Step 1 :The height of the baseball in meters $t$ seconds after it is hit is given by the quadratic function $h(t)=-4.9 t^{2}+9.8 t+1$.
Step 2 :The maximum height of a parabolic function like this one is reached at its vertex. The $t$ value of the vertex of a parabola given in the form $f(t) = at^2 + bt + c$ is given by the formula $-\frac{b}{2a}$.
Step 3 :In this case, $a = -4.9$ and $b = 9.8$, so we can substitute these values into the formula to find the time at which the baseball reaches its maximum height.
Step 4 :After finding the time, we can substitute it back into the function to find the maximum height.
Step 5 :Substituting the values, we get $t_{max\_height} = 1.0$ and $max\_height = 5.9$.
Step 6 :Final Answer: The baseball reaches its maximum height after \(\boxed{1.0}\) second. The maximum height obtained by the baseball is \(\boxed{5.9}\) meters.