http://www.yulane.org/counsel/Documents/LloydsGUARANTEEDFIXEDPREMIUMPLAN.pdf
Surrogate Maternity Medical Plan Summery of Benefits
Comparison of benefit packages offered through New Life Agency. The policies are underwritten by Lloyds of London, the only insurance company offering policies specifically for Intended Parents to cover the cost of surrogacy. I will outline two plans, the Platinum plan and the Comprehensive Platinum plan, and give my reasons for the one I am recommending. I feel it is beneficial to view them both so have a better understanding of the value added with the Comprehensive Platinum Plan.
Prices are for surrogates under the age of 35 yrs. As long as doctors and hospitals within their network are used the coverage is 100%. If doctors or hospitals outside their network are used, coverage will be 70%. I can provide complete lists of the providers upon request via web link.
The policies cover all expenses associated with maternity care and delivery, including complications up to $500,000 and $50,000 of hospital bed rest if prescribed. No coverage is provided on either policy for PGD or IVF costs. Policies pay for up to 4 ultra sounds. Additional ultra sounds are only covered if determined to be medically necessary by the doctor.
A refund of any unused deductible will be refunded 6 months after the delivery. Account ledgers are available for viewing to see actual charges. Once the deductible is used up, the insurance will start to pay the claims. Deductibles need to be funded by the 6 week ultrasound.
Policies remain in effect up to 18 months after the 6 week ultra sound. The above information applies to both policy types illustrated below. These policies cover no pre-existing conditions.
Platinum Plan Comprehensive Platinum Plan
Enrollment Fee $ 1,050 No enrollment Fee
Premium $10,900 $16,750
Deductible $15,000 – single/$30K twins $15,000 - singleton/ $30K – twins
Total Cost $26,950 / $41,950 for twins $31,750 / $46,750 for twins
Platinum Plan
Situation A: After satisfying the above premium requirement; if a pregnancy is never confirmed the IP will receive a 100% refund of the premium paid less a $750 broker fee.
Situation B: If loss of pregnancy occurs prior to the surrogate being transferred to the OB doctor, a 90% credit can be applied to a new policy. The IP just needs to pay 10% back, replenishing the policy in the amount o f $1,090.
Situation C: If loss of pregnancy occurs after the surrogate has been transferred to the OB, the policy is considered fully funded and the IP will not get any refund on the Premium.
Platinum Comprehensive Plan
This plan has a guaranteed fixed premium until you reach a successful pregnancy up to 26 weeks including multiple cycles.
Situation A: After satisfying the above premium requirement; if a pregnancy is never confirmed the IP can use the same surrogate again with no additional fee. The same policy continues, or a refund of 100% of the premium can be issued less the $750 broker fee.
Situation B: If loss of pregnancy occurs prior to the surrogate being transferred to the OB doctor, the IP’s can use the same surrogate again with no additional fee. If the IP wants to change to a different surrogate, a new application will be completed tying the IP to a new surrogate. The new surrogate will need to go through the same underwriting process as the first one, no additional fee.
Situation C: If loss of pregnancy occurs after the surrogate has been transferred to the OB before 26 weeks, the process can begin again.
Surrogate Accidental Death: Can be purchased for $595, combined limit of $350,000. Benefit pays $250,000 to the surrogates beneficiaries and $100,000 to the IP’s as beneficiaries. The IP’s are considered beneficiaries in order to cover any out of pocket expenses they have incurred in the surrogacy process.
Although the initial cost is greater for the Platinum Comprehensive plan, the risk free guarantee can save hundreds of thousands of dollars in costs for repeated cycles and complications. I believe this is the better choice for all parties involved.
Additional plans are available for back up insurance and newborn medical insurance. Backup insurance is if the surrogate already has insurance that will pay for the pregnancy but then her insurance company backs out and denies the claims (this is typical) the backup policy will take effect immediately. If it is never needed there is a refund. The newborn policy covers the newborn immediately after the delivery up to $100,000. More information on this can be cover at a later date.