With a positive pregnancy test in hand, an exciting but also challenging period begins for parents-to-be. As great as the happiness for the baby’s arrival is, many questions remain to be clarified. For example, is there any health insurance plan that can cover maternity costs?
Of course, there is a perfect solution at your disposal – medical insurance with maternity cover. However, before you pick the best pregnancy insurance it is essential to first compare health insurance with maternity cover offered by different providers.
What is Maternity Insurance and Its Eligibility
Maternity coverage, often offered as an add-on to standard health insurance policies, is intended to cover the expenses associated with childbirth. Although the extent of coverage may differ between insurers, this type of insurance policy generally includes a broad range of pregnancy-related expenses.
To enjoy financial protection during and after pregnancy, you must know the options available. If you are interested in getting the combined benefits of health insurance, maternity insurance, and some additional services, the most suitable choice for you is to choose health insurance with maternity coverage.
Eligibility For Availing Maternity Coverage:
- Offered as an add-on benefit and only to women
- Most insurers offer this plan to individuals who are between 18 and 45 years old
- Women who suffer from congenital disorders or diseases that affect their ability to conceive are typically not eligible
- Waiting period of at least 9 months (varies from one insurer to another) for the insured to be eligible to claim benefits.
Benefits of Maternity Insurance
Maternity health insurance, sometimes referred to as pregnancy health insurance, is an essential financial tool for expecting parents. It offers various benefits to reduce the financial burden associated with childbirth and related medical expenses.
- It offers coverage for delivery expenses and hospitalisation costs.
- It covers pre and post-natal care, including routine check-ups, diagnostic tests, consultations, post-delivery care, etc.
- It also covers complications arising during pregnancy.
- Also, provides coverage to newborn babies.
- Maternity coverage offers cashless hospitalisation facilities, allowing hassle-free processes.
- Premiums paid for maternity health insurance are eligible for tax deductions under Section 80D of the Income Tax Act.
Waiting Period for Maternity Insurance
Maternity insurance waiting period refers to the period that must be passed for insurance coverage to be activated. The waiting period for maternity insurance typically ranges from 9 months to 48 months depending on the insurer.
Unlike basic insurance, insurance with maternity coverage imposes specific waiting periods to raise a claim. So, if you are planning to get maternity insurance, it is essential that you consider the waiting period before you buy health insurance.
However, this period may vary based on the insurance provider and policy specifications. Hence, it is essential to be aware of the waiting period and other policy terms and conditions to ensure that policy coverage aligns with your family planning.
How to Claim Maternity Insurance?
Many expectant mothers who have bought maternity insurance often face problems while raising a claim. This issue is mainly faced as many are not aware about how to claim pregnancy insurance. Below are the two ways through which a maternity claim can be processed.
Process for Making a Reimbursement Maternity Claim
- First of all, you will have to ask for a reimbursement claim form from the hospital where you plan to deliver the baby.
- When getting discharged, pay bills yourself, and don’t forget to gather all the receipts.
- Fill out the reimbursement claim form and submit it to your insurer along with all the bills, receipts and other important documents like policy papers, etc..
- The insurer will perform the next step. The insurance company will review your claim and check the documents. Once your claim is approved, you will receive reimbursement for eligible expenses as per the policy terms and conditions.
- The reimbursement amount typically depends on the coverage limits, any deductibles and copayments as per the policy.
Process for Making a Cashless Maternity Claim
- At the time of getting hospitalised for the delivery, the very first step is to ask the hospital or your insurer for a pre-authorisation form.
- Fill out the claim form correctly by entering your insurance details, policy number, etc., and submit it to the hospital authorities along with your cashless card, ID proof, and other medical records.
- The hospital shall verify the coverage along with other details with the insurance company and seek approval from the insurer for the estimated expenses.
- The insurance company performs the last step. The insurer will review the documents submitted by the hospital (medical records, bills, discharge summary) and settle the claim directly.
Conclusion
Medical insurance with maternity cover has become essential for expectant mothers as it offers complete financial protection, customisable insurance policies, and postpartum care. Maternity insurance policies come with certain exclusions that you should be aware of both when purchasing the plan and when filing a claim with your health insurance provider. Hence, it is important to learn about the policy’s inclusions and exclusions, terms and conditions to avoid claim rejection.
