When you are starting a family you may consider it to be both a scary and exciting time. There is so much to think about to prepare for your new arrival, from the nursery to all the supplies that you need. The cost can be very high when you are expecting a baby and on top of this there could be medical bills. These can be very high too, which is why it is a good idea to have maternity insurance in place. It can help to keep your expenditure down so that you can concentrate your finances where they need to be and it can also help to reduce some of the stress associated with this important time in your life.
It is estimated that a quarter of people who purchase a health insurance policy want to start a family within a year or two. This means that the right maternity coverage should be one of the main points to consider when it comes to healthcare. Having the right policy in place can offer real peace of mind when you are starting a family. The good news is that the majority of pregnancies and births are problem-free but on the rare occasion that there are complications, it is a good idea to have a comprehensive policy in place to cover you for any eventuality, covering both the mother and the newborn.
China Expat Health Insurance currently works with more than 60 health insurance companies so we can offer you a wide range of services and products that will suit your needs.
Standard Maternity Coverage
Opting for maternity insurance means that the cost of your pregnancy, birth and some care for the newborn will be covered. Having International Maternity Insurance in place means that you will have access to the best quality healthcare in China, from the best doctors to the best facilities. There are also policies that will allow you to have your baby in another country, so you could be covered if you want to give birth in places like Dubai, Singapore or Hong Kong. However, the policies do vary according to the insurer providing the policy and the type of plan that you choose. It should be noted though that there are some common benefits connected to the majority of maternity insurance policies including:
- Pre-natal treatment and examinations
- Post-natal treatment and examinations
- Complications during the delivery
- Caesarian Sections deemed to be medically important
- Giving birth following any fertility treatment
- Home birth
It may be that you need cover that is not standard. You may want to expand the cover on any of the above points. If this is the case then we are in a strong position to help you to get a plan that will work for you and your family. Extra features or add-ons could include things like fertility treatment or an emergency evacuation.
Understanding Maternity Insurance
We can help you to fully understand every detail of your maternity insurance. We can show you the various categories that apply to this type of insurance and it is very important that you consider each category before you make any decision on your policy. Make sure that you ask one of our advisors if you are unsure or confused about any aspect of your policy.
The categories on your policy include: maternity coverage in CNY, the cost of maternity per pregnancy or per policy year, the maternity waiting period, the waiting period that applies to conception or delivery, the complications in pregnancy, the complications connected with delivery, both pre and post natal treatments, coverage for home deliveries, coverage for fertility treatments, the waiting period for fertility treatment cover, pregnancies that require medical assistance, elective caesarian sections, caesarian sections that are required for medical reasons, coverage for the newborn, any congenital abnormalities newborn underwriting, caesarian sections for a second child and multiple births that are the result of fertility treatment.
Maternity Insurance Waiting Periods
A waiting period is something that you need to be very aware of when you are putting a maternity insurance policy into place. For most insurers the waiting period will be a minimum of 10 months, with most opting for a 12 month waiting period. This means that you have to plan ahead when you are planning to have or add to your family. There are two ways in which a waiting period can be applied and you need to understand these before you progress. The first is where the waiting period applies from the beginning of the plan and the other that is a waiting period that lasts until the conception.
If the waiting period runs from the start of the plan this means that you will be given a specific amount of time that you have to wait before you are able to claim on the benefits of the policy. So if the waiting period is 10 months then you have 10 months from the start of the policy before you can claim. Any maternity related medical expenses incurred during that time will have to be covered from your own funds. After the waiting period you can claim back all the costs incurred after the 10 month period has passed.
The ‘Last Until Conception’ plans mean that you have to have had the policy in place for at least the waiting period before you should conceive. So if the plan has a waiting period of 10 months then you can only claim if you conceive after the 10 month period has passed. If you do conceive before the 10 months is up then none of your pregnancy-related health expenses are covered by your policy. Understanding the type of waiting period that you have is essential because it could be very expensive if you are unsure.
The typical cost of a pregnancy is around 15% on pre-natal care, 75% will go on the actual delivery and 10% is allocated to post-natal care. Knowing this can help you to work out how much coverage you actually want and need. You need to be aware that pre-natal care can be extremely expensive, costing thousands of dollars, so waiting for the full waiting period can be the best option.
China Maternity Costs
The cost of maternity healthcare has increased throughout the world and this includes in China. More people need maternity health provision and it is also now more common for people to have children when they are older, increasing the risk of a problem.
If your pregnancy is being cared for at a private hospital then it can easily cost around CNY 200,000 and this is for a pregnancy that has no problems or complications. Any issues can see the bill increase dramatically and the costs can soon be beyond your means. For this reason you need to have maternity insurance in place so that you can make sure that you have the best quality care while having to pay out as little as possible yourself.
Coverage for Your Newborn
Most plans designed to cover maternity healthcare will ensure that there is at least some coverage for the newborn baby, if only for a short period of time. This length of time will be different for every policy as it depends upon the insurer and the plan, so you need to be aware of the limitations on this. There are some policies that offer full coverage, but these will bring with them high premiums. There are policies that have financial caps on the benefits for newborns. There may also be time limits for post natal care. You do need to be prepared in case your newborn needs some medical care after the birth. Expenses such as vaccinations are standard but you should also be prepared in case there are unexpected complications, which can incur very high bills.
There are many maternity insurance policies that offer cover with stipulations for assisted pregnancies, including those that have occurred as a result of IVF treatment. There may also be considerations for second and third pregnancies, particularly if the first child was delivered by C-Section. If any of these apply to you then you need to be aware that the cost of your pregnancy healthcare can rise dramatically. Make sure you make us aware of all the relevant details so that a member of our team can advise you accordingly.
How to Get Started
When you are considering maternity insurance you need to plan as early as possible. Most insurers will put a waiting period into place on a maternity policy so that you will only be able to claim on them after you have had the policy in place for a minimum of 12 months, so planning ahead will be to your advantage.
There are some things that you need to consider when planning your maternity insurance. You need to consider which insurer you want to take out a policy with and the range of cover that you need. You need to consider the time it takes to choose the plan that you want, the time it will take to have the policy underwritten and then get the policy into place. If a pregnancy begins before everything is finalized then the insurer may not pay out on some of the benefits. If you need anything clarifying on this point, please do not hesitate to contact a member of our team.