A new child can change your family’s world completely, bringing tremendous happiness and responsibility at the same time. Often, the first thing you need to deal with is securing your child’s future. And a large part of this is making sure their health needs are covered.
Does Your Baby Really Need Medical Insurance?
The most common complications in newborns include congenital anomalies (especially congenital heart ailments), neonatal hepatitis, complications due to premature deliveries, birth asphyxia and injuries, etc. If your baby is suffering from any of these, it can greatly add to your final hospital bill. And that’s why, getting medical coverage for the little one is vital.
What Are Your Options?
Insurance plans that offer full coverage right from the day of birth are rare. But once your child is three months old, they qualify for medical coverage. A quick way to get them covered is to add them to your existing family floater policy, if you have one.
Alternatively, some individual and group health plans will cover the baby right from birth, as a part of the listed maternity benefits. If you plan on having a child, talk to your insurance provider and see if your existing policy offers these perks.
What Affects Your Choice Of Baby Policy?
As we mentioned earlier, it’s hard to get babies medically insured from the very beginning since this places a great deal of risk on the insurance provider. Yet, to cover them, one can add them to their parent’s policy which can cover basic immunizations and a considerable amount of post-natal care. After the culmination of 90 days, the infant is qualified for protection.
The insurance agency must be made aware of the newborn within first seven days of birth. At that point, the insurance company will tell you the extent of the coverage. The policy will usually cover the baby for 90 days from birth and you can add more coverage options when the time comes to renew the plan. Be aware though, that your policy application may be rejected if your newborn is suffering from complications during birth.
While renewing the policy, you’ll need to present documentation that includes the baby’s medical reports, the discharge certificate and the birth certificate.
Once the baby’s documentation has been analyzed and processed, the insurance provider will inform you of the added premium to be paid. Once you’ve got the payments rolling, your baby will have the privilege of a medico-financial safety net.