Health Insurance With Maternity Coverage
Many people erroneously think that maternity coverage is a separate insurance type, but it is actually connected with most common healthcare insurances. Depending on your provider and their terms, you may have some or all of the expenses covered. This is going to show you exactly what maternity coverage is, and how good an idea it is to have if you are expecting.
Problems Faced Without Maternity Coverage
Having a baby is very expensive, even before you get the baby home. You have to pay hospital fees, doctors, care and other expenses. Without this coverage, you can expect poor prenatal care, and you may have collection agencies barking down your throat if you cannot pay the fees out of pocket.
What is Covered?
This coverage is great for expecting mothers, because it typically absorbs some or all of the costs for having a child. This normally includes both prenatal and postnatal, but some insurance companies may just cover prenatal. Most also cover inpatient and outpatient charges, but again, inpatient is more common. So be sure to read the terms properly to make sure you are getting the right level of coverage.
Are There Any Costs?
Some healthcare insurance automatically tacks this coverage on, but if it doesn’t, then there will be an initial cost to make the coverage active. After that, it depends on your copayment. Make sure to read the insurance terms or talk with a consultant, just to make sure you know your copayment and what you are responsible for paying. You may also have to split the inpatient and outpatient invoices for the insurance.
Are There Restrictions?
A major restriction to this coverage is that, if you are already expecting, most health insurance firms will deny your request. The reason for this is rather sound; pregnancy is considered a pre-existing medical condition. The insurance company wants its money, so get this before someone gets pregnant. It may be best to talk with your spouse about this before anyone attempts to get pregnant, otherwise you may be ineligible.
Another consideration is that this coverage typically takes several years to manifest any benefits. The common waiting period is one to three years. This means, if you get the coverage and then get pregnant a few months later, the coverage will cover very little, if anything.
Weight the Benefits
Consider how much the coverage premium is, if it is an additional cost, against the cost of pregnancy. The average birth will be around $6,000 to $10,000, and the average premium is around $100 to $300, if not already included. In most cases, it will cost less for the coverage, but you never want to lose money, so always make this consideration.