What is pregnancy insurance? How does it compare to health insurance? You probably have lots of questions if you are expecting a child or planning to conceive. Read on to find most of your questions answered so that you can take care of the financial matters and enjoy a happy pregnancy.
Pregnancy insurance or maternity insurance comes as extra coverage available with health insurance plans. It may or may not be automatically included in the main policy. For this reason, you should check the existing plan that you have and check whether prenatal visits to the doctor and delivery are covered and how much the insurer will pay. Many companies offer the purchase of maternity coverage at an extra cost at any time. It is up to you to evaluate the coverage offered to see if it will work for you.
If you do not have any health insurance or want to switch plans while you are pregnant, you have to take action as soon as possible. You would not want to end up paying for prenatal visits and exams and especially for delivery out of your pocket. Hospital delivery without any complications can cost between $6,000 and $8,000. It will really hurt the pocket of new parents.
You need health insurance with pregnancy insurance coverage. Finding the right package is the tricky part that comes next. There are federal laws that require underwriters to not to consider pregnancy as pre-existing medical condition. However, these are applicable only to group plans, which are usually available through employers. If you want or have to get an individual plan, your pregnancy may be considered a pre-existing condition. Similarly, even it is not considered as such, the insurance company may use various loopholes in the law to postpone the issuing of the policy after delivery or to charge you extra for maternity coverage.
What you need to do is to act as swiftly as possible. If you cannot afford or cannot get a standard plan for some reason, you may want to focus on alternatives such as Medicaid, membership in various maternity and parental organizations that provide some healthcare benefits and discounted health insurance available from some companies. You should not hesitate to get help from the local department of social services, from your current health care provider and possibly from an insurance broker.
Before getting pregnancy insurance coverage, you have to check the medical services covered and the amount of the coverage, the premium and the deductible. Read carefully all terms and conditions.↑ Back to Top