How to Get Maximum Benefits From Maternity
For a mother-to-be, the nine months of her pregnancy is a time when she requires maximum care and support from her family. Going for medical check-ups, having healthy meals and staying active becomes extremely essential for her overall well-being and growth of the unborn baby.
The costs of maternity care in India are staggeringly high. Therefore, it is also essential to be financially ready with a maternity insurance cover. Opting for health insurance plans with maternity coverage helps in many ways. Firstly, such plans cover a host of medical expenses related to hospitalization, pre and post hospitalization medical expenses, etc. Secondly, they cover maternity-related expenses with benefits including the newborn baby cover.
Customized products designed to cover maternity costs prove to be highly beneficial. ‘Joy’ by Care Health Insurance (Formerly Religare Health Insurance) is a maternity health policy that comes with numerous benefits.
To get maximum benefits from your maternity health cover, it is essential you have the right understanding of the policy.
Here’s a guide.
Go for Cashless Hospitalisation
Just like other health policies, opting for maternity insurance cover gives you the advantage of cashless treatment facility. Whether it is an emergency situation or planned hospitalization, you can stay relaxed about paying the hospital bills. The insurer would directly settle the hospital expenses on your behalf, subject to policy terms and conditions. To avail this facility, you must choose a network hospital only.
In case you opt for a non-network hospital, make sure to submit all the supporting documents in order to get your expenses reimbursed.
Consider the Waiting Period
The waiting period is a certain time period that a policyholder should wait before he or she can get a claim on the specified medical condition. Many health policies offering cover for maternity expenses also come with a waiting period, ranging from a minimum of 9 months to a longer period of 3 years or more.
Buying a policy when a woman is already in her pregnancy stage is not possible as it may be considered as a pre-existing condition. A person can add his wife as a new member in an existing health policy during renewal and opt for maternity benefits. However, in such a situation too, a waiting period will be applicable. Thus, buying a maternity health insurance policy at an early stage is advisable so that one becomes eligible for the coverage when it is actually required.
Opting for a policy with a lower waiting period is beneficial. Policyholders should thoroughly read the policy documents and understand the terms and conditions.
Read the Inclusions and Exclusions
Maternity insurance offers coverage for both normal as well as cesarean delivery. The policy includes cover for in-patient care, daycare treatment, pre and postnatal expenditures and new-born baby cover.
However, there are exclusions that every policyholder should check at the time of buying the insurance policy. It is necessary in order to financially prepare for those out-of-pocket expenses. Common exclusions include congenital disease; treatment for infertility and in-vitro fertilization, etc.
In India, maternity care at private hospitals is expensive and the costs range between Rs 50,000 to Rs 5 Lakh. Buying maternity health insurance covers major expenses including doctor’s fees, hospital room rent charges, examinations, lab tests, medication, follow-up visits, etc. In addition, opting for health policy with maternity cover makes one eligible for tax benefits under Section 80D of the Income Tax Act.