Maternity Insurance: What You Need to Know
What to look out for when getting you and your baby covered
Planning on having a baby? As any parent can attest, this is one of the most exciting experiences in life and brings a joy unlike any other. But it also takes a lot of preparation to ensure that it is relatively stress-free and not financially burdensome.
Hong Kong boasts one of the best medical care facilities in the world, both in their public and private healthcare sectors. Giving birth in a public hospital comes with minimal charges and great quality of service. However, if you are a non-resident and do not hold a Hong Kong ID card, the cost of giving birth rapidly increases and starts at $39,000. A similar obstetric package at a private hospital can range from $17,000 to more than $100,000. Learn more about obstetric packages here.
Preparing for the arrival of a baby is stressful enough without having to worry about endless medical fees. So one of the easiest ways to ensure that you and your baby are adequately prepared and guaranteed the best medical care possible, both during and after the pregnancy, is to make sure that you are covered with a comprehensive health insurance plan that includes maternity insurance benefits.
Selecting a Maternity Insurance Plan
What many future parents don’t realize is that not every comprehensive medical insurance plan automatically includes maternity benefits. This is because in many cases, these are elective coverage options that can be added or deleted at the insured individual’s discretion, typically as a way to reduce the coverage premium.
If you are planning to get pregnant, it is smart to make sure that your maternity coverage is activated even before conception. Waiting periods are commonplace in insurance policies, and maternity benefits are no different.
Most insurers impose a waiting period of six months to 12 months for maternity coverage to begin. Getting pregnant during the waiting period could cause a portion of the pregnancy to be excluded from coverage. Understanding how the waiting period works is critical to ensuring that your entire pregnancy, from the very first doctor’s visit all the way through labor and delivery, recovery, nursery care, and follow-up check-ups, will be completely covered by your health insurance.
Thus, if a baby is in your future, it is worth taking the time to contact your current insurer to find out what coverage you already have or what could potentially be activated for you. If you discover that maternity coverage is not available, purchasing a standalone maternity insurance policy is your best bet to get these needed benefits.
Here are a few of the key coverage elements that parents-to-be should look for when choosing a maternity insurance plan, and some things to be aware of.
What Should It Cover?
It is easy to assume that “maternity coverage” means any and all care associated with having a baby is included. This is the case with some insurers, but with others there can be exclusions or limits that may severely restrict what is covered.
Most notably, make certain that it not only covers the basics such as doctor visits, ultrasounds, labor and delivery, but that it also takes into account the possibility of unexpected complications. No parent wants to consider the thought of something going wrong during the pregnancy or birth, but the reality is that it does sometimes happen.
Should problems arise, such as an emergency delivery or a birth defect, having adequate coverage can alleviate huge amounts of stress by automatically opening the doors to the very best medical centers and picking up the bill. All that the parents have to do is focus on the health of their baby and the well being of the mother.
Important benefits to look for should include coverage for delivery via caesarean section, delivery with complications, delivery requiring emergency surgery, congenital defect coverage, all pre-natal consultations, post-natal check-ups, and hospitalization if needed.
When discussing your potential maternity coverage with an insurance advisor you should hear the phrase, “everything is covered,” and be provided with documentation to back that statement. No parent wants to be surprised with a huge medical bill because there was a misunderstanding over what could or could not be covered by the insurance company.
Newborn Child Coverage
Beyond just delivering the baby, it is crucial to consider the period of time immediately after the baby arrives, even if he or she is perfectly healthy. Life is about to get much busier for Mom and Dad, so selecting a plan that covers your baby for a predetermined length of time under the mother’s coverage can make life much easier.
In many cases, newborns receive extended complimentary coverage for several weeks to a few months, but then will need to be added as a regular family member to continue coverage. In othercases, some family health insurance plans allow the baby to be born intofull coverage. Understanding your insurance policy will eliminate the possibility of letting your baby’s coverage lapse.
Maternity Insurance from Pacific Prime
Pacific Prime offers comprehensive health insurance policies for individuals and families featuring all the valuable maternity benefits needed to guarantee that you and your baby are safe and protected. Contact them today for more information or if you have any questions.