How Important is Maternity Coverage? 5 Key Benefits You Can’t Ignore!

Pregnancy is a one-of-a-kind milestone celebrated for months with joy and anticipation. Along with regular bursts of excitement, this phase also highlights the need for expectant parents to plan their finances well. From ultrasounds to postnatal care, maternity care has more than just a few price tags. A maternity insurance policy ensures these expenses do not become a financial burden. Read to find out what a maternity plan is and why it is one of the most essential investments a couple can make as parents-to-be.

What is maternity coverage?

Maternity coverage is a type of health insurance plan that provides a financial cushion to manage pregnancy-related medical expenses. The coverage primarily compensates for costs incurred by childbirth, post-delivery care, and critical conditions. It also includes services such as doctor consultations, delivery costs, prenatal checkups, and postnatal care for the mother and the newborn.

Some health insurance policies also offer add-on services like extended hospitalization in case of complications and newborn vaccinations. The main point of maternity coverage is alleviating the financial burden on parents-to-be during such an important milestone.

Importance of maternity coverage: Key benefits

Let’s explore the reasons why maternity coverage should be one of the top priorities on your baby planning checklist:

Full-fledged coverage

One of the best things about investing in maternity coverage is that it takes care of all the medical expenses related to the pregnancy. The plan is not limited to just delivery room expenses. It covers lab tests, prenatal consultations, hospitalisation, and postnatal care. Some policies offer extended coverage to help you cover your newborn’s expenses for a specific timeframe.

Financial aid

Pregnancy-related expenses are not just about delivery. Many costs add up to the overall bill, from ultrasounds and monthly checkups to blood tests and pediatric consultations. While regular deliveries in private hospitals can cost about ₹80,000, C-sections can surpass ₹2.5 lakhs depending on the hospital tier and the city. With maternity coverage, expectant parents can save considerable money when navigating treatments.

Variety of coverage options

Maternity benefits can be added to a health insurance policy as a rider or can come bundled into family floater plans. Some plans are tailored for couples, while others allow broader family inclusion. Choosing the right type depends on your health, financial planning, and when you’re planning to conceive.

Care for newborn

Some maternity insurance plans cover the newborn for 30 to 90 days after delivery. This includes vaccinations, pediatric consultations, and, in some cases, NICU charges in case of complications. This kind of support is crucial during the delicate initial phase.

Planning for emergencies

Pregnancies can be unpredictable. Complications, early labor, or emergency surgeries can lead to unplanned medical costs. Maternity insurance cushions you during emergencies, ensuring you receive the best care without financial panic.

Types of health plans that cover maternity

Maternity coverage is often provided in different health insurance plans, offering different benefits and support for expectant mothers. Here are the different types of health insurance policies providing maternity plans:

Individual health insurance plans

Individual health insurance plans usually offer maternity coverage. They may cover prenatal visits, postnatal care, and delivery expenses. But here’s the catch: these health plans have a waiting period (typically 9 months to several years) before allowing you to avail benefits.

Family floater plans

Family floater plans cover the entire family under one health insurance policy. Maternity coverage is often offered in these plans. However, the range of benefits can vary. These plans are cost-effective and ensure that both the mother and the newborn are covered.

Group health insurance plans

Employers offer group health insurance plans to their employees. These plans may provide maternity benefits as part of the overall coverage. Due to their collective nature, group health insurance policies are the most affordable of all plans. These benefits may also be extended to the employee’s spouse.

Top-up plans

Top-up health insurance plans offer additional coverage over and above an existing health policy. If maternity benefits are included in the primary policy, these plans can help increase the coverage limits for pregnancy-related expenses, offering extra financial protection during pregnancy and childbirth.

Tips for choosing the right maternity coverage

When considering spending on a maternity insurance plan, considering certain factors to ensure you get the best deal. Here’s a quick roundup of the things to keep in mind when exploring your options:

• Sum insured: One of the most critical factors, the total sum insured amount can vary depending on the type of health insurance plan you opt for. It may range from ₹15,000 to ₹1,50,000, depending on your requirements and insurance providers. Check how much coverage is reserved for maternity expenses.

• Waiting period: Maternity plans often come with a waiting period, which can range between 9 months and 38 months, depending on the insurance provider and the type of policy. Since you cannot avail maternity-related benefits during this period, opting for a plan with a minimum waiting window is advisable.

• Cashless hospitalisation: This is a benefit in a health plan that provides cashless treatment, so you don’t have to pay the bills upfront. Check if your plan has a vast network of hospitals, as it will ensure all your medical expenses are handled as you deal with hospital runs. 

• Room rent: Does the plan you are considering cover room rent? How much is the coverage worth? Check whether you are restricted to a specific type of room and if it is as comfortable and in budget as you would like.

• Newborn coverage: Not all maternity plans cover newborn expenses, which include vaccinations, medical treatments, and postnatal care. Consider a coverage offering this benefit, with newborn coverage ranging from 30 to 90 days. 

Conclusion

To plan a baby in itself is a fulfilling experience. How you approach the financial side of the planning plays as important a role as ensuring physical and emotional well-being. And with medical inflation soaring, investing in a maternity insurance policy becomes non-negotiable. The only catch is exploring different types of health insurance and finding the most fitting coverage for your unique needs.