Parenthood is one of the most significant life experiences for a couple. But given the rising medical cost, this time can also be a cause of worry due to a substantial financial burden. Worry not, a comprehensive maternity insurance policy comes as a saviour and helps expecting mothers get quality healthcare facilities without financial burden.
What is maternity health insurance?
When you opt for a maternity health insurance policy the costs for C-sections and normal deliveries (up to the sum insured) are covered by the insurance provider. Those willing to opt for this insurance coverage must keep in mind that it can be added as an add-on or rider cover along with a standard health insurance policy. Further, several maternity insurance companies provide coverage for up two pregnancies. This add-on coverage also provides financial assistance for the newborn’s vaccination and other medical costs that may arise. Post - and pre-hospitalisation coverage is also provided for up to thirty days before and sixty days after hospitalisation.
Features and benefits of maternity health insurance
A maternity health insurance policy comes with several features and benefits. Some of these are as follows:
Comprehensive coverage
Get complete coverage for expenses associated with delivery, hospitalisation, medicines and more.
Newborn care
The policy provides coverage to the newly born child if he/she is diagnosed with any form of critical illness at birth.
Ambulance charges
Ambulance charges are also covered in case an emergency does arise.
Cashless facility
Hospitalisation at an insurer’s network hospital allows you to get the advantage of cashless treatment wherein the bills are directly settled between the hospital and your insurer. In this case, you need not make any out-of-pocket payments. Being associated with a network hospital from early pregnancy will work to your advantage at this time.
Hospitalisation coverage
Any pregnancy-related expenses incurred 30 days prior and 60 days post-hospitalisation are covered under the plan.
Factors to consider while buying a maternity health insurance policy
Focus on the policy premium
Choose a maternity health cover with a premium as per your financial capabilities but one that offers you comprehensive coverage.
Check the policy waiting period
It is always a wise decision to choose a maternity health insurance policy that comes with a limited waiting period.
Know the network hospitals
Knowing the network of hospitals when you choose the plan will allow you to get cashless treatment in times of emergencies. Most insurers have tie-up with some of the leading hospitals in the city.
Eligibility criteria for maternity health insurance
Maternity health insurance policy can be purchased by anyone between the age of 18 & 45 years. However, one should note that the eligibility criteria tend to vary for different insurers.
Inclusions of maternity health insurance
Here are the pointers covered under a maternal health insurance policy:
Ambulance expenses
Inpatient care treatments
Medication
Follow-up visits
Pre-natal expenses
Daycare treatments
Room rent charges
Newborn baby cover
Normal/Caesarean delivery
Exclusions of maternity health insurance
Cosmetic surgery
Pre-existing conditions
Expenses related to pregnancy before completing the policy waiting period
Medical expenses for vision, hearing and dental
Documents required to raise a claim for maternity insurance
In order to raise a claim, a policyholder will have to keep the following documents handy:
Duly filled insurance claim form
Discharge summary
Policy documents
Consultation bill
KYC documents
Passport-size photos
Original hospital bills
Raise a cashless claim for maternity health insurance
Step 1: You have to submit a properly filled form provided by the hospital during the time of hospitalisation.
Step 2: Following this, the hospital will send a claim form to the insurance provider with the doctor’s report.
Step 3: You or the hospital must reply to the representative from the insurance provider when they raise a query.
Once your insurer approves the insurance claim, the company will pay the expenses to the hospital as per the sum insured.
Raise a reimbursement claim for maternity health insurance
Step 1: Submit a properly filled claim form to your insurer after discharge, with all the documents, such as bills and receipts of reports and treatments, etc.
Step 2: A representative from the insurance provider might get in touch with you in case of a query. You will have to submit all the necessary documents and additional information to address the query.
Step 3: Once the insurer approves the claim request, you will receive the reimbursement as per the sum insured.