Mumbai, India (CU)_ According to research from employee health insurance platform Plum, employer-provided maternity insurances have been found to be insufficient in comparison to the expenses of maternity care in India’s metro cities.
According to the article, “Is maternity under-insured in India?”, the average cost of delivery (vaginal deliveries) in private hospitals in Tier One cities and metros in India is between INR 45,000 ($591) and INR 55,000. Further, the C-sections cost between INR 70,000 and INR 200,000 in private hospitals, depending on the difficulties.
While 66% of Plum’s customers have maternity insurance, the majority cover charges up to INR 50,000 for up to two children. Only 15% of Plum’s clients, which are new-age businesses, have taken maternity coverage of between INR 100,000 and INR 125,000. As of January 2022, 722 of the 1,094 firms assessed by Plum offered maternity coverage.
Individual maternity policies are absent in India. Further, there exists a waiting period of 90 days following the baby’s birth for the newborn to be eligible for medical insurance. In contrast, group health insurance schemes cover female employees and female spouses for maternity care, infertility, and any prenatal issues, as well as provide coverage beginning on the first day of pregnancy.
Mr Abhishek Poddar, CEO and co-founder of Plum, expressed optimism over the new comprehensive maternity cover. He said, “The inclusion of a comprehensive maternity cover in group health insurance comes with multiple advantages. Besides the shorter waiting period and baby cover from Day One, it goes a long way in making the workplace more equitable for women and providing them with a sense of financial security.”
