Maternity Health Insurance: Coverage, Features, Add-ons and Benefits

What is Maternity Health Insurance?

Maternity health insurance is a policy that covers all the medical expenses occurring during pregnancy and childbirth, as mentioned under the policy.

The policy usually covers prenatal and postnatal financial expenses incurred due to pregnancy. Further, the policy also bears the expenses of the newborn baby such as vaccination, etc. Policyholders can add maternity-related expenses to their family health insurance policy or can go with a standalone and comprehensive maternity health insurance policy.
 

Like any regular health insurance, policyholders can also take advantage of cashless facilities for pregnancy expenses in any network hospitals listed by the insurance provider.

Need for Insurance for Pregnant Women

Pregnancy is a significant step in any woman's life. With hustling and bustling lifestyles, most couples like to prepare themselves for this significant step. Not only will women shift into the life transitioning phase of their lives, but being a mother will also add new responsibilities.
 

Further, couples want their pregnancy experience  to be smooth sailing without any complications. And if there is any, the maternity health insurance will cover all the unforeseen medical expenses. It gives couples peace of mind that their financial assets are protected against any risk and gives them time to focus on their unborn child's well-being.

Benefits of Having Maternity Health Insurance Coverage

Some of the essential benefits of maternity health insurance coverage are:
 

• Financial Coverage - The first benefit of maternity insurance coverage is financial coverage. Dealing with pregnancy is an extensive affair in India.
  
  

  The average delivery cost in urban areas of India can be up to  ₹50,000 to  ₹80,000. Furthermore, if C-section delivers the baby, it can cost around  ₹1 lakh to  ₹2 lakh in many parts of India.
  
  

  But with maternity health insurance coverage, policyholders can rely on getting top-notch medical care without worrying about expenses.
   

• Extensive Medical Coverage - Pregnant women have to go through multiple phases throughout pregnancy, which require multiple doctor visits, tests and medical care depending on the mother's conditions.
  
  

  The medical coverage of pregnancy is broad, which includes hospitalisation, consultations, regular checkups, OT charges and more. Further, postnatal care is also essential for women after pregnancy.
  
  

  Considering all this, a maternity health insurance plan is curated, factoring in all the needs of pregnant women.
   

• Quality Health Care - Pregnancy can become complicated in no time if you don't have guidance from an expert medical professional.
  
  

  Still, due to budget constraints, individuals sometimes withhold themselves from reaching out to the best medical professionals.
  
  

  With a health insurance plan with maternity coverage, you will get access to an expert gynaecologist in the market without worrying about their fees.
  
  

• Tax Benefits - Another benefit of buying maternity health insurance coverage is that policyholders can save their tax implication on the premium paid. Sometimes, tax liabilities can add a financial burden on individuals.
  
  

  But if you have a health insurance plan with maternity coverage, then under Section 80D of the Income Tax Act, policyholders can avail of tax-saving benefits.

Who Should Opt For Best Health Insurance for Pregnancy?

Maternity health insurance is best to protect your financial assets during pregnancy. However, people often think about when they should buy a pregnancy insurance policy.

• Suppose you recently married and are considering planning a family in the next two or three years. In that case, looking for maternity insurance coverage with no waiting or less waiting period is best.
• Individuals who are just engaged but getting married soon and thinking about conceiving in the next two or three years should go for health insurance for pregnancy.
• Further, couples already blessed with one child but thinking of expanding their family should look for health insurance for pregnancy.

Inclusions and Exclusions of Maternity Health Insurance

While buying maternity health insurance, there are specific inclusions and exclusions that individuals need to be aware of. Some of the standard inclusions of maternity health insurance are:
 

• Most health insurance policies with maternity coverage cover regular and c-section delivery expenses.
• Further, a comprehensive maternity health insurance plan also covers needed newborn vaccinations.
• Lastly, a plan will cover expenses that lead to termination of pregnancy due to life-threatening situations.
   

Various exclusions are not covered under health insurance for pregnant women.

• The insurance provider generally doesn't cover the expenses incurred due to ectopic pregnancy.
• Further, the IVF treatment cost is not covered under maternity health insurance.
• Moreover, the cost of Surrogacy pregnancy is not covered by insurance companies.
• Lastly, regular checkups or doctor visits are not covered under health insurance for pregnant women.

Things to Consider While Buying Maternity Health Insurance Plans

To help you choose the best coverage, some considerations need to be followed while buying maternity health insurance, such as:
 

• Coverage - The first thing to look for is the medical coverage the policyholder will get under the maternity health insurance plan. It will help you prepare for the unforeseen circumstances during the pregnancy. Choosing an insurance provider that provides extensive coverage, such as cashless claims and more, is best.
  
  
• Waiting Period - The next thing to check for the waiting period for maternity health insurance. This is the clause of the insurance provider that supports the benefits of insurance after the completion of mentioned duration as per the policy. It is best to go with maternity insurance coverage with no waiting period or less waiting period.
  
  
• Claim Process - Another thing to check for before buying maternity health insurance is their claim procedure. Choose the insurance provider whose process of getting a medical claim is easy with minimal paperwork.

Conclusion

Pregnancy is an expensive affair since the cost of treatment and medical procedures are vast. Getting maternity health insurance keeps couples relaxed, knowing that their budgeting won't be derailed due to pregnancy.

Also, it will help mothers-to-be get quality healthcare from the experienced professional. However, before buying any maternity health insurance policies, it is best to understand the complexities of maternity coverage in terms of the waiting period, coverage limits, and expenses covered.