Directly purchased healthcare assurance policies that will pay for pregnancy related medical care including prenatal visits and the hospital medical care can cost much more than similar plans which do not provide coverage for maternity-connected medical expenses. You may invest big money for these additional benefits. You and your family might indeed invest this money elsewhere if you don't want to have a child in the near future.
It is a waste of money to have this coverage and not need it. It is expensive to need pregnancy coverage and not have maternity insurance coverage. An uncovered maternity can cost you well over ten thousand. Therefore, it is critical that you pick a good option. Making an error one way or the other might have a great financial impact.
Pregnancy insurance coverage: When is best to add or drop maternity insurance coverage?
In a perfect world, you would be able to include maternity insurance benefits immediately prior to when you conceive a child and drop it immediately after your final visit with your midwife. Unfortunately, the issue of pre existing conditions and unplanned pregnancy might make the timing of changing to another medical insurance plan harder.
Be sure that you are aware of the waiting periods in the policy of any plan you are considering. With some plans, you simply have to conceive after the effective date. This means that you may conceive right after your effective date. With other plans, you will need to wait a period of several months to conceive to have your pregnancy covered.
Pregnancy Plans and Pre-existing Conditions
A pre-existing medical condition can keep you from changing your policy. This means that if you have a condition at the time you decide to change to a policy which covers maternity, you may not be allowed to do so. It also means that if you are pregnant at that time, you may not be allowed to do so. If a family member is suffering with a sickness, you may not be able to change your policy.
Even something as innocuous as a broken bone can prevent you from changing your insurance plans until you have healed. Most private health insurers will want to wait until you have been released from care before they will offer you medical insurance.
This means that your plans to include or eliminate maternity benefits may be thwarted by fate.
Strategy for Pregnancy Insurance
Most families do better when they purchase when they buy separate insurance policies. Often plans that will cover maternity-related services have other insurance benefits that they will find unnecessary. Often the wife should get separate dental and health insurance plan than other family members. Two insurance contracts will often be cheaper than one policy.
Larger families will often save when they purchase one dental and health care policy. Family size and the ages of the parents affect whether you will do better with one policy or two. A good personal dental and health insurance broker should be able to help you decide which insurance choice is best for you and your family.
There many families who have maternity coverage on their insurance contracts after they have taken steps to make sure that they cannot conceive. Be sure to drop this costly coverage when you no longer need it. Money that you invest on pregnancy coverage after you have had your tubes tied is obviously wasted money.
Should you get Maternity Insurance Now?
Unfortunately, not knowing when or if you will conceive that is not planned and when or if you will develop a pre-existing condition which makes it difficult to purchase an underwritten healthcare insurance policy makes that a tricky question. Being better informed should make it easier to make a better decision. Without the ability to know what's going to happen, making the choice with absolute certainty is not possible.
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