Health insurance for Your Newborn Child

With the birth of a newborn, there is a total change in the whole family environment as compared to earlier. Without a doubt, babies bring lots of joy with them but they also add additional responsibilities to the parents and other members of the family. Therefore, health insurance plans are important to deal with the complexities that can arise due to childbirth. The insurance plan not just offers coverage for treatment and other healthcare expenses but also helps the policy buyer in leading a stress free life ahead. Although, there are only a few health insurance plans that are designed specifically keeping in mind the newborn babies, but you can avail benefit from maternity insurance coverage or a family floater plan so as to get your newborn baby covered.

Factors to Consider before Buying a Health Insurance Plan for your Newborn

There is a huge difference between selecting a health insurance plan for newborn babies as compared to selecting health cover for adults. There are various factors that need to be considered prior to opting for a health plan for your baby. Some of the key factors are as follows:

• Coverage Offered

Generally, coverage offered by insurance companies to newborn babies is once they are at least 90 days old. You need to make sure that your respective insurance company should offer cover for your newborn baby as early as possible. It will prove to be beneficial if at the time of birth, your newborn baby is diagnosed with a health condition. While, on the other hand, the total coverage offered will differ from insurance company to insurance company.

• Premium

The medical records of your newborn needs to be submitted to the insurance company, in order to check whether the newborn is suffering from any pre-existing illness or genetic predisposition. After the analysis and verification of all the documents, the insurance company will let you know regarding the payable premium amount against the health insurance plan for your newborn baby. Some of the insurance companies offer cover for newborn as an extension family floater health insurance plan, without charging any extra cost. However, some insurance companies may include an additional cost for newborn coverage in your existing plan.

• Waiting Period

In case, you wish to protect your newborn child from any unfortunate incidence in the future, insuring them under your existing health insurance plan will prove to be beneficial as it will offer coverage for primary immunization expenses. Most of the insurance providers, generally wait for a specific time also referred to as the waiting period before offering any coverage. After the completion of the waiting period, the newborn child will be qualified to receive coverage.

• Terms and Condition of Policy

It is highly important to read the terms and conditions of your health insurance policy prior to buying one as each of the insurance companies will have different conditions and coverage options that you will be required to follow.

• Customisation

It is highly recommended to opt for an insurance company that let’s the policyholder customize their health insurance plan according to their requirements and budget, if the policy buyer is planning upon adding multiple family members for the insurance cover.

Benefits of Health insurance Cover for a Newborn

The benefits of health insurance plans for a newborn are as follows:

• Reduced Healthcare Expenses

In case an individual is planning to buy a health insurance cover for their newborn baby, then it proves to be beneficial for the policyholder in the form of reduced healthcare expenses.

• Protects Health of the Baby

The health of a newborn baby is a matter of concern as due to a weak immune system, they are quite vulnerable to health ailments. Therefore, it becomes a worrisome thing for all the new parents. However, a health insurance plan acts as a safety network and secures the health and well being of the newborn.

• Premiums

Although for a parent, the primary thing of concern is the well-being and health of their newborn, yet at the same time the premium should be considerable as well. Therefore, when a parent purchases a health plan for their baby, it even benefits the parents with an affordable premium alongside maximum benefits.

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.