Maternity Insurance in 2022

During the cold dark winter months many couples and families start thinking about, and making plans for, the year ahead. This could include a decision to have a child; not an easy decision to make, for any family. Choosing to have a baby will mean that you want to give the child the very best things in life. From education to travel, we all want our kids to have the finest things life can offer.

This decision to give our children the very best will mean that many families opt to deliver their baby at one of Hong Kong’s private hospitals. The Matilda, Adventist, and Sanatorium all offer world class facilities, services, and doctors, but also have a world class price tag attached to the care they offer. The costs associated with a routine vaginal delivery at a hospital like the Matilda normally come in at between HK$100,00 - $150,000. If there are any complications of the pregnancy, and a caesarian section is required, then those costs could far exceed HK$200,000.

These costs mean that, for many people, it is simply too expensive for many people to consider utilizing the services of a private hospital when it comes to giving birth.

Fortunately, insurance is here to help.

Maternity Insurance Coverage in Hong Kong

There are a number of different maternity insurance options for you in Hong Kong, both comprehensive and slightly more streamlined. With many different insurers to work with, you have a choice between local Hong Kong products or maternity protection under a true international health insurance policy.

This means there are a lot of maternity products out there and they will all provide slightly different terms and conditions, as well as coverage benefits. Generally, the Hong Kong and International Maternity Insurance options offered by CCW Global will provide coverage for the following:

• Costs of a Routine Vaginal Delivery
• Costs of a Medically Necessary C-Section
• Costs of delivery following complications
• Costs of pre- and post-natal treatment
• Costs of home delivery
• Costs of Hospital delivery

This represents a standard level of coverage, although the actual levels of protection afforded under the plan will vary based on the policy’s overall maximum limit and the insurer you have chosen to work with. In some cases, depending on the insurer and policy you have selected, it may even be possible to expand maternity protection under the plan to include coverage for:

• IVF and Infertility Treatment
• Newborn Child and Infant Insurance Coverage
• Congenital Birth Defect Treatment

It is important to note that policies which include these more comprehensive benefits will normally be far more expensive than a policy offering only the standard level of cover. Additionally, restrictions will apply to benefits like IVF and Infertility treatment, which may limit the number of treatments you receive in your life, or cap the financial value of the benefit under the policy.

Major Maternity Insurance Considerations

Maternity insurance, more than any other product aside from Life Protection, requires advance planning. Without proper planning, a maternity insurance policy is going to be unable to offer you the coverage you need. This is for one simple reason.

Maternity insurance is always attached to a waiting period.

Waiting periods are complicated but in essence; waiting periods require you to have held an insurance policy for a specific length of time before you are covered for a certain benefit.

Under all Hong Kong and International Medical Insurance policies the waiting period associated with a maternity benefit can be as short as a year (12 months), or as long as two years (24 months) from the moment the policy was activated. This means that you will have to have been enrolled on you Maternity Medical Insurance plan for a significant length of time before receiving covered maternity treatment under the policy.

This, obviously, is a critical concern as a normal pregnancy last 9 months. As such, with the waiting period of maternity insurance policies, it is not possible for a pregnant mother to join a plan and receive covered treatment for the existing pregnancy. It may be possible, in some cases to obtain a maternity insurance policy which does not include a waiting period in relation to Emergency maternity treatment, or complications of pregnancy, but this will be determined largely by the insurer and plan which you choose to purchase.

As waiting periods will fundamentally influence the effectiveness of your maternity insurance policy, it is important that any family considering having a child born under an insurance plan make suitable plans. Consulting your existing insurance policy for maternity cover, or your benefits is a great place to start. Looking into the type of facility you wish to use, the OBGYN you will be consulting with, and even your future living plans are all great starting points for determining whether your maternity policy is going to be able to provide the support and coverage you need.

Protecting Your Baby

While maternity insurance is always attached to a waiting period, it is possible to insure your newborn baby from the moment of their birth (no matter what the state of their health) without having to deal with waiting periods on your policy.

Many Maternity Insurance policies will offer New Born Child coverage benefits. These will vary by insurer and policy, but will generally have the same theme; protecting your child against the costs associated with medical treatments after birth. Some policies will provide this through a financially limited “free benefit,” while other plans will require that you enroll the child (and pay the corresponding premium) in your policy shortly after birth. Whether your infant receives a free benefit, or is born into your existing plan, utilizing a Newborn Child Coverage benefit offered by a maternity insurance policy ensures that even if you are unable to utilize your maternity coverage, that your child will have the best possible medical protection from the moment of their birth.

For more information please click Newborn Child Health Insurance.

Maternity Insurance Advice in Hong Kong

There are many maternity insurance options available to residents of Hong Kong, and the sheer variety of choice can mean it is difficult to chose the right plan for you. From Coverage Areas, to deductibles, and even the Newborn Child Benefit being provided, there are many variables which will impact both your coverage and the amount that you are going to pay as a premium.

Fortunately, CCW Global is here to help. The expert international insurance brokers at CCW Global are able to assist you in comparing the market and will provide you with free, no-risk, no-obligation quotations on the products which best meet the unique needs of you and your family.

For more information about the Maternity Insurance solutions, we are able to provide, or to receive a free comparison of quotes, please Contact Us today.