Health insurance plays a significant role in financial planning by offering essential coverage for medical expenses to individuals and families. However, amidst the array of health insurance options available, many people question whether maternity benefits are included.
Pregnancy and childbirth involve significant costs, so it's important to know if health insurance offers adequate coverage for maternity-related expenses. This article explores what is maternity cover in health insurance plans, discussing its importance, the extent of coverage, and reasons for considering it.
What is Maternity Cover in Health Insurance?
Maternity benefits in health insurance ensure that expectant mothers can focus on their health and babies without shouldering the financial burden. Here's what it typically covers —
- Delivery Costs: Healthcare plans providing maternity benefits cover C-sections and natural deliveries, including hospital stays, room rent charges, and surgical expenses.
- Prenatal and Postnatal Care: It includes coverage for prenatal check-ups, diagnostic tests, prescribed medications, and postpartum care for both mother and baby.
- Newborn Care Coverage: This includes coverage for newborns aged up to 90 days and vaccinations for babies aged up to one year.
- Pre- and Post-hospitalisation: Healthcare plans with maternity benefits cover pregnancy-related expenses for 30 days prior to hospitalisation and 60 days after discharge, including costs for consultations before delivery, diagnostic tests, and care after childbirth.
Is Maternity Benefit Covered in Health Insurance Policies?
Yes, many health insurance policies cover maternity benefits. However, pregnancy is considered a pre-existing condition in health insurance, and hence, the terms and conditions of such plans vary between insurers.
- The waiting period for availing of maternity coverage of a health insurance plan typically ranges between 9 months and 6 years. During this period, individuals are not eligible for coverage related to pregnancy. As the waiting period varies between insurers, check before purchasing the plan.
- Some insurers also offer benefits, such as coverage for newborns. However, up to two children can be covered.
Reasons to Opt for Maternity Coverage
- Pregnancy and childbirth involve huge costs, including consultations, diagnostic tests, hospital stays, and care after childbirth. Having maternity insurance offers a sense of security by taking care of the expenses and easing the burden of out-of-pocket costs.
- You can avail of quality healthcare throughout the pregnancy journey, from check-ups to medical intervention during childbirth, without losing sleep over the associated costs.
- According to Section 80D of the Income Tax Act, policyholders can avail of tax deductions on premiums paid for health insurance plans offering maternity coverage. This tax benefit helps individuals reduce their tax liabilities, making maternity coverage a financially prudent decision.
- Expectant mothers find peace of mind in knowing they are financially prepared to handle any emergencies that may arise during pregnancy and childbirth.
Conclusion
Choosing a healthcare plan with maternity benefits ensures comprehensive coverage for prenatal, delivery, and postnatal care. Considering the perks, like tax advantages and a sense of security, opting for maternity insurance is a move to protect both your health and financial stability as you navigate the path to becoming a parent. Pick a plan with an adequate sum insured, minimum waiting period, and optimal scope of coverage.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It may contain outdated data and information regarding the Insurance industry and products. It is advised to verify the currency and relevance of the data and information before taking any major steps. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.