Are Newborns Covered in the Parent's Family Health Insurance Plan?

Parenthood is one of the most special feelings in the world. With joys and tears, the arrival of a newborn also brings a great sense of responsibility. Due to the rising medical costs and uncertainties of life, buying health insurance for your loved ones is crucial.

With the right health insurance plan in place, you can avoid draining your savings during a medical emergency. Thus, health insurance should be a part of your contingency plan, whether you are single or married. Also, you must include your newborn under a family floater health insurance to provide the baby with quality medical care without worrying about finances.

What is a Family Floater Plan?

Unlike individual health insurance, a family floater plan covers an entire family under a single health insurance policy. It allows all family members to avail of compensation for health-related expenses with one sum insured. You must also note that the number of children covered under a family floater plan may vary from insurer to insurer.

Benefits of Family Floater Plan

• A family floater health insurance covers all family members under a single policy with a single premium. Thus, it is more cost-effective than buying individual health policies for every family member.
• Many family health plans cover maternity expenses, while some offer maternity cover as an add-on benefit. Maternity cover also includes newborns for the initial 90 days of birth.
• You can also include your dependent parents, in-laws or siblings by paying extra premiums.
• Family floater plans offer tax deductions on premiums paid under Section 80D of the Income Tax Act,1961.
• Some insurance companies offer the facility of health check-ups for all family members once a year.
• You can also avail of a No Claim Bonus for claim-free years.

Health Insurance for NewBorn

You cannot buy an individual health plan for a newborn, so buying a mediclaim policy for the family before the baby arrives is essential. A family floater plan allows you to protect your baby for the first 90 days after birth. This is because newborns are more prone to catching infections and other diseases in the initial days after their birth.

As the baby is at greater health-related risks, an adequate health insurance cover is crucial to ensure quality treatment without financial worries. Thus, buying the best Mediclaim policy for your family allows you to enjoy your life’s new phase without worrying about the baby’s health or related costs.

Things to Remember While Buying a Family Floater Plan with Newborn Cover

You should keep the following things in mind before purchasing a family floater health insurance:

• You must ensure that the plan allows policy upgradation once the newborn turns three months old. This would lead to the seamless inclusion of the new child under the plan for the entire policy duration.
• Before buying a family floater plan, you should check whether it covers pre-natal and post-natal medical costs, routine checkups, vaccinations, and other medical needs of the baby.
• Usually, insurance providers offer maternity insurance with a waiting period that may vary from plan to plan. So, you should consider buying a policy that has the least waiting period.
• Some insurance providers cover the newborn under the maternity benefit of the family plan with no added costs. But some insurers may charge an extra premium to cover the newborn. Thus, you should factor in the cost of the plan and make the most cost-effective decision.

Conclusion

There are many suitable health plans that ensure cashless and quality treatment during medical emergencies. Choosing between an individual or family floater plan depends on you but protecting yourself and your loved ones with an adequate health cover is crucial. So, buy a health insurance plan today.  To know more, please read the relevant articles at our website www.pnbmetlife.com.

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