The arrival of a newborn is the most precious and special moment for any parent in their life.  With the birth of a baby comes a new bond, new memories, happiness, and a responsibility towards the baby.

One of the important responsibilities is to safeguard the health of the newborn child. Now you might wonder why we need health insurance, that too for a newborn? It’s important to note that newborns require extra attention and extra care to ensure good health, especially in the initial postnatal months. This can be ensured by taking the infant for regular health checkups, timely vaccination, and medical treatments, among other things.

Importance of Health Insurance for Newborns

A health insurance policy helps in taking care of the medical expenses and costs in care for newborn babies – as these expenses are always increasing with inflation. By securing the finances for this, the policy can help new parents be at peace if/when any emergency arises. By having a health insurance policy for your baby, you can carry out cashless payment transactions and be stress-free while the insurance company will directly take the responsibility of making the payment to the hospital.

However, keep in mind that the hospital is included in the insurer’s list of network hospitals to avail of the cashless claim and benefits. Newborn health insurance includes pre and post-hospitalization expenses, ambulance charges, modern daycare procedures, etc.

Only 90 days after the birth date, is the infant eligible for a separate health insurance plan. Thus, the newborn baby can be included in the existing Family Floater Health Insurance Plan and also can be covered if you have opted for the Maternity Health Insurance Plan.

Things to consider before purchasing Newborn Health Insurance:

• Coverage of respective plans: Health insurance plans for the newborn have different coverage features in each plan. Therefore, choose an insurance company and the policy that provides the maximum coverage features. Keep in mind that not all insurance companies cover vaccination, prenatal and postnatal expenses.

• Check the premium: Before purchasing any policy to cover newborn health insurance, it is very crucial to know one’s budget so that the premium you pay to the insurance company falls under your budget. Some health insurance plans require an extra premium to cover the newborn baby. Ensure to check thoroughly before buying any policy for the newborn.

• Upgrade plan option: In India, most insurance companies provide an option of upgrading the plan after the completion of 90 days of the newborn.

• Co-Payment Clause: Many health insurance plans are paired with a co-payment clause where at the time of the claim, the parents pay some amount from their pocket. Health insurance plans have a co-payment clause that comes with comparatively less premium amounts. Therefore, it is always best to check the plan and its features before buying them.

• Inclusions & Exclusions: Keep in mind your needs and requirements before you purchase any plan, so as to make a sound judgment by reading all the inclusions and exclusions separately.

Documents required for Newborn Health Insurance:

1. Birth Certificate
2. Health reports of the newborn with the medical condition of the newborn
3. Maternity discharge card
4. Other specific documents as instructed by the insurance provider

Key Takeaway

1. Experts advise that a health insurance plan for newborns is very important and a smart choice for financial safety.
2. Only after the child completes 90 days he/she is eligible for health insurance, until then choosing a family health insurance plan will work in your favor.