Having a kid without complications should not cost $50K. It should be a few grand at the most. If the kid now needs NICU, then yes, that's what insurance is for.
The one's that companies offer are quite good, actually.
I'd have depleted my life savings, and gone bankrupt several times around COVID years with my parents health, if I didn't have company health insurance.
Good for me, because I knew people in hospital sitting in the waiting lobby literally crying because they were done financially. Like finished for life.
Having said, this in India the market for this things is still building up, and given how big India is it will take years before it reaches the US stage of profit seeking.
In EU countries the spirit of health insurance is socializing the cost / solidarity which we explicitly do not consider in the thread - please read the parents of that was not clear.