Personal health care insurance policies that cover maternity expenses including your midwife or OB and the high cost for the hospital’s maternity ward tend to cost much more than similar policies that do not provide coverage for pregnancy-associated expenses. Some of our clients pay as much as five hundred dollars more every month for a policy that covers maternity expenses.
Maternity Insurance: When should you add or drop coverage?
Ideally, you should be able to buy medical insurance policy that covers the high cost of maternity the day before you conceive your child and eliminate the coverage it right after your last visit with your OB. However the issue of preexisting conditions and unplanned pregnancy can make the timing of this difficult.
Pregnancy Insurance Coverage & Preexisting Health Conditions
Coverage for pregnancy cannot necessarily be added or dropped at any time. If you want to save money by dropping maternity coverage and purchasing a medical plan that does not cover the cost of pregnancy, you may have a tough time if you have a medical condition. Should you want to move to plan that covers maternity, the same is true. Bear in mind that pregnancy is a pre-existing condition. Because of this, if you are pregnant when you apply or on your insurance policy’s effective date, your application will be denied by most private medical insurance companies.
A Strategy for Maternity Insurance
We’ve found that many of our clients fare better when they buy separate health insurance policies. Frequently the plans that cover pregnancy will have other coverage which my clients won’t want or need. We will often help the wife purchase a policy that covers maternity and help the rest of the family get a completely different health insurance policy.
Larger families will often do better if they purchase one health care policy. There are other factors that might make a difference. A good personal health insurance broker should be able to help you decide which option is best for you.
Do You Need Maternity Insurance Now?
Unfortunately, we do not know when or if you will have a pregnancy that is not planned; we don’t know when or if you will develop a pre-existing health issue which makes it impossible to buy an underwritten health care insurance plan. This makes that a hard question. Hopefully the information in this article will make it easier for you to make an informed decision.