Maternity Coverage Waiting Periods
Get a Quote »Our agency receives several inquiries regarding health insurance including maternity coverage with a short waiting period. Our clients usually want their coverage to begin quickly and need to know which insurance company offers the shortest waiting period for pregnancy.
The two nationwide companies that are most competitive in this niche are Assurant Life and Anthem Blue Cross and Blue Shield.
UPDATE JULY 21, 2010: ASSURANT HEALTH AND UNITED HEALTHCARE NO LONG OFFER MATERNITY BENEFITS.
In our experience, that company is Assurant Life. They offer a three month waiting period in many states. This means the insured must have the policy in force for three months before conception takes places. Additionally, the child must be born at least nine months after the three month window has been met. Thus, if the three month time period was satisfied, but the child was born prematurely, then the insured may not have coverage. Most of our clients wait a little longer than three months to be on the safe side.
Assurant Life offers maternity coverage as an additional rider on several of their plans. Our clients like that the deductible for pregnancy is separate from the traditional health deductible. Deductible choices for pregnancy range from $1,000 to $10,000. Consumers can keep plans affordable by choosing a low deductible for maternity and high deductible for the health insurance accompanying the plan.
Anthem Blue Cross and Blue Shield
Anthem Blue Cross Blue Shield also offers attractive maternity plans, however the waiting period is nine to twelve months depending on where the insured resides. Ohio has a nine month waiting period, while most others are twelve months. Their most popular plans are those coupled with health savings accounts. Deductibles can be as low as $1,500 for the overall coverage as well as the pregnancy. Once the deductible is met, then the birth is covered. Additionally, health savings accounts offer tax advantages that traditional individual coverage does not. Consumers can fund their HSA and spend this money tax free to meet the deductible.
United Healthcare (Golden Rule) offers maternity coverage with no waiting period. Like all companies, the insured cannot apply after they have become pregnant. This plan is not as popular as some others because the benefit, while affordable, is somewhat limited. In the first two years UHC benefits are limited to $2,000, years 3-4 pay a maximum of $4,000, and after fiver years the benefit maximum is $6,000.
In summary, there are several carriers offering medical insurance including maternity coverage. Most policies will have a waiting period – usually ranging from three months to one year. It is important to work with a knowledgeable agent who can explain the differences between the various coverages. The independent agents of Hyers and Associates, Inc. can help you find the coverage you desire. Contact us for personal service today!