What is Maternity Insurance and How Does It Work?

What is Maternity Insurance and How Does It Work

Maternity insurance is mainly health insurance that provides maternity coverage. If you do not get maternity benefits with your health insurance then you must buy maternity insurance. The insurance companies provide coverage for normal and cesarean delivery of babies. In fact, employers provide their employees with maternity insurance as an add-on benefit. These days maternity period costs a lot to the families so they look for insurance policies.



Why is it important to get maternity insurance?

Maternity insurance is the best way to reduce the financial burden that comes to you. With maternity comes tons of things that you need to pay for. Right from parental care to delivery to postnatal care, we need money. If we go by calculation then it is around $10,000. In case of emergency cases like C-section, it will increase by 50%. However, due to complications, the cost may increase dramatically.

Do you have enough money to handle these costs? If the bills pile up, won’t it be a stressful situation? In stressful situations, your whole family suffers, and it’s not good for the baby either. Thus, it is important to prepare for the baby without adding more financial pressure on the whole family. You must definitely go for maternity insurance to live a stress-free life.

Also read: 7 Reasons Why Health Insurance is Necessary

The insurance companies are a blessing for all of us. If you own maternity insurance, you can save money. Use these savings in taking care of your baby after the insurance benefits end. Give your child a better life without burning your pocket.



How Do I Get Maternity Insurance And How Does It Work?

If we talk about the Affordable care act then there are plenty of changes in the health insurance category. According to it, qualified health plans need to provide their maternity insurance as part of it. Before the affordable care act, there were many following the same. Some insurance companies provide maternity insurance only after request. There have been instances where women tried applying for maternity coverage. They had to face the problem of either non-availability or high cost of maternity insurance.

We are blessed that pregnancy coverage is now easily accessible. The first place to get it is through Medicaid, employer, or even CHIP. Here, CHIP is a health insurance program for children. Another option is to get it through the marketplace.



Is your insurance grandfathered?

In case, you already own health insurance, it’s time to check whether it is grandfathered or not. By grandfathered we mean, the place begins before 23rd march 2010. These plans need significant changes to affect consumer benefits. Also, personal grandfathered plans do not qualify for maternity and childbirth benefits. You need to consult your insurance company to know about the updates. You may or may not get coverage so it is better to confirm.



What’s the eligibility?

The eligibility for maternity insurance varies based on state and income. The criteria in the case of Medicaid and CHIP also vary. Currently, several states have changed the income requirements to a broader state. In the past, if you didn’t qualify for maternity insurance then now you might be eligible.

Also read: 9 Ways to Save Money on Health Insurance!

Once you apply for insurance in a company, you get benefits based on where you live. So the standards are not national. They vary according to your resident state. In most cases, they do provide 80% coverage. You have to pay for something called coinsurance. If you choose hospitals that are part of your insurance companies’ network you get more benefits. You can even negotiate the price. You must check their network providers for the same.



Are there tests before approval?

Also, before approval, they will ask you extensive medical questions. You need to prepare yourself for a questionnaire session. Do a complete research and keep the answers ready. Also, they will ask for a check-up at a primary physician. They will demand your medical records. You may even have to sign a waiver giving them access to your records. After acceptance, the advantages are plenty.

You can enroll for maternity insurance or alter it during the open enrolment period. It starts on the 15th of November every year. You must keep in mind that becoming pregnant doesn’t make you qualify as a life event. As life events make you eligible for enrolment or alteration in health plans at any time. However, the birth of your baby does qualify you for life events. It gives you a special enrolment period of 60 days. So during this period, you can make changes to your health plans.

Also read: Children Health Insurance Program and How it works

In case, you don’t want to go for maternity insurance then opt for the midwife. You can even give birth to your baby in the birth center. They are way cheaper than hospitals. Of course, the benefits will vary. The coverage will vary according to the insurer and your needs. Majorly maternity insurance covers outpatient services. In some policies, newborn baby care, inpatient services, and lactation counseling are also there.



Final Words

Once women enter maternity state they undergo several changes in their life. Babies need more nutrition so they have to eat plenty of healthy food. Also, regular check-up is important. People have even switched to prenatal yoga for reducing complications. Everything needs investment so invest some from your pocket and rest through insurance. Also, the future is unpredictable. Just in time of delivery or during maternity phase you may need money for other purposes. So instead of using up money that is meant for maternity, you can choose maternity insurance. That’s the best thing you can do for a peaceful maternity journey. And some good maternity insurance programs are run by the government and private companies like eHealth Insurance, etc.

There is a child health insurance program too. Do check that program to know about the benefits you can avail of for your child. In this way, you can manage both maternity and childhood period. Don’t forget to compare the prices of companies before finalizing anything. The companies vary in policy costs and benefits. We hope this article covers all your doubts related to maternity insurance. In case, you have any queries then feel free to comment below. Our team of experts will try to answer your queries as soon as possible.