Fertility costs are an important factor hampering citizens' desire to have children, and their role becomes increasingly more apparent after the enactment of three-child policy. The current study holds that, as an important measure of reducing fertility cost, China's current maternity insurance system is deficient in terms of fairness, legalization, level of treatment and responsibility sharing mechanism, etc. To promote the fulfi llment of the goal of the national population policy, it is necessary to carry out inclusively preferential reforms on the current maternity insurance system. Meanwhile, this path of reform is fully feasible due to its solid material, legal and policy foundations. The study suggests that the maternity insurance system, guided by the three principles of "social co-responsibility, universality, and incentive", should be moderately improved in terms of subjects, contributions, and treatment standards.