Artificial Reproductive Techniques (ART) are increasingly popular as more couples turn to ART to conceive a child. Among ART, a procedure called in vitro fertilization (IVF) consists of a sequence of procedures designed to help conceive a child or prevent genetic disorders.
An IVF procedure involves collecting mature eggs from the ovary and fertilizing them with sperm in a laboratory. Embryos (eggs) that have been fertilized are then transferred into the uterus. It usually takes about 3 weeks to complete one cycle of IVF. Sometimes, these steps are split into several parts, making the process time-consuming. It is also an emotional journey for the couple as they go through the steps while awaiting to know whether the final outcome of the procedure is resulting in pregnancy.
Is IVF Covered in Health Insurance?
Despite the fact that IVF has no life risks associated with it, the availability of health insurance benefits can help ease the process and make the procedure more convenient. Health insurance bonuses can help in the case of IVF procedures, such as newborn care, pre-hospitalization, post-hospitalization cost coverage, maternity cover, and emergency coverage.
1. One Health by Magma HDI
An insurance company that provides general health coverage is Magma HDI. There are four plans offered by the company – support, support plus, shield, and premium. In some of their plans, you can purchase additional coverage, while others are already included. Pre-and post-hospitalization expenses, IVF treatment, free annual health checkups, and more are all included in their infertility treatment insurance coverage in India. If you’re unhappy with their plans, you can cancel them within 15 days for a complete refund. Basic coverage for their support plan starts at Rs 2 lakhs, and additional coverage may cost up to Rs 5 lakhs when added to the same plan. There is a co-pay option of 10% to 20% of the amount as well on their covers where the tenure lasts between 1 to 3 years. The initial waiting period for the treatment is up to 30 days applicable to patients.
2. IVF Suraksha by Craft Hospital and Research Centre
In terms of technology, IVF Suraksha Scheme is one of the best IVF policies available to women due to its use of state-of-the-art procedures. In the unlikely event that the treatment does not produce a positive result, the policy claims to refund the full amount. You pay an insured sum of Rs 2.75 lakhs and it will cover two IVF-ICSI, up to 5 embryo’s transfer, blastocyst transfer, and assisted hatching and freezing of any additional embryos involved. The success rate for their treatments is high, around 75%, but couples have to undergo a physical fitness test prior to availing their schemes. What the membership does not cover are the costs involved in the event of a miscarriage, hormone injections, medication payments, tubal pregnancy, and the fees required for the registration, consultations, and lab results.
A Bhartiya Mahila bank account is required to qualify for this coverage. Women don’t have to worry about being financially burdened for infertility treatments, hospitalization costs related to morbid obesity, and maternity care. Females who are 22 years old and above can insure between Rs 1 lakh and Rs 5 lakh, with premiums starting at Rs 1,745 for a sum insured of Rs 1 lakh.
The policy also covers maternity expenses starting in the third year and a claim-free gynaecological check from the 4th year. One of its best features is that it covers miscarriages, unlike other IVF plans.
The above are some examples of health insurance plans that cover IVF. We hope this blog helped give you a brief about each of the policies and aids you in making a suitable decision