There is nothing that compares to the joy of bringing a newborn into the family. However, there are many responsibilities for new or soon-to-be parents, from making the home baby-proof to those minor adjustments to everyday routines like sleep schedules and food habits.
Moreover, considering the hefty costs of high-quality maternity care in India, being financially prepared for parenting is essential. It is essential to purchasing a family health insurance plan with maternity coverage. This guarantees you quality medical treatment for a healthy and safe pregnancy.
Preparing financially for pregnancy involves more than just handling the costs related to hospitalisation. It is advisable that you be prepared to handle any costs that arise before or after delivery. You can experience these important life stages worry-free with maternity health insurance in place.
However, one needs to evaluate the household expenses when it comes to raising a child and plan accordingly. Budgeting for maternity leave is quite beneficial. Here is how we explain how you can accomplish budgeting on your own during your maternity phase-
Avail Employee Benefits
If your employer provides Mediclaim coverage, get in touch with them to learn how you can file a claim for maternity expenses. Group mediclaim policies cover your hospitalisation costs, as compared to other health insurance plans with maternity coverage that come with waiting period.
Also, be informed about the maternity leave policies at your workplace and make the best use of the financial advantages that come with them. Thus , be fully informed about what your employer has to offer for your maternity period.
Note: According to Maternity Benefit Amendment Act, 2017, a woman with less than two children is eligible for maternity leave of 26 weeks.
Start Saving Early
Pregnancy insurance covers significant maternity costs, and women also benefit from paid maternity leave. However, one should consider saving as much as they can before the conception. Set up a separate budget plan with your partner so that you don’t have to face last moment trouble at the hospital during the delivery or for any other maternity related expenses. It will help give you a backup where you can take care of miscellaneous expenses followed by the delivery of a child.
Buy a Maternity Insurance Policy
In India, getting quality maternity care at a private hospital comes at a cost. The medical inflation has taken such a long leap that one has to be really mindful before having a baby as it may cost a fortune to many. The cost for a normal delivery ranges between 30K-50K in India whereas C-section costs even more. This could lead to major debt or loss of savings if you haven’t secured yourself with a maternity health insurane beforehand.
Maternity insurance plans provide coverage for hospitalization charges for delivery and everything encompassing newborn baby cover, doctor’s fees, room charges, etc. Not only this, such plans cover pre-and-post hospitalization expenses involving an examination, tests, medication, follow-up visits, etc.
There are health insurance plans that cover pregnancy but with a waiting period. Make sure to check for such clauses when you purchase a health policy to save yourself from end moment claim rejection.
Care Health Insurance offers two maternity cover health insurance plans– ‘Joy Today’ with a waiting period of 9 months and ‘Joy Tomorrow.’ It ensure seamless services while you bring a new life into this world. Make sure you go through the plan’s terms and conditions before making a purchase.