Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Health Insurance: Savings Are Possible

7 May 2002
Stone & Associates

New Zealanders concerned about rising health insurance premiums should make a full and immediate review of their existing policies, according to independent insurance brokers Stone & Associates.

The leading risk management company says plans by Southern Cross Healthcare to introduce higher premiums for older customers have highlighted the rising cost of health insurance. Southern Cross is New Zealand's largest health insurer.

Stone & Associates Managing Director Todd Jones says his company has witnessed a new surge in customer inquiries, following weekend reports about Southern Cross Healthcare's new pricing plan.

"New Zealanders are increasingly concerned about the rising cost of private healthcare," he says. "Unfortunately, with New Zealand's aging population, the problem is only going to get worse."

Mr Jones says his company's advice to anyone confused or concerned about their cover is to treat health insurance the same way they regard vehicle insurance.

"Most of us have car insurance for serious events like a bad accident. We don't rely on it to cover routine maintenance like a flat tyre or oil change. One reason many people find health insurance increasingly unaffordable is because they choose comprehensive cover, instead of paying some of the smaller bills themselves.

"Our advice to people is simple: cover yourself for the big events like the cost of specialists and major surgery."

Mr Jones believes a new wave of Southern Cross Healthcare customers are considering quitting the company.

"Judging from the feedback we have had from callers this week, the planned increases by Southern Cross are certainly not popular. But the medical insurance market is a tough one. Medical insurers have to plan long term if the are to survive."

Stone & Associates is urging consumers to shop around. Mr Jones says it is still possible for most people to find policies and cover for the more expensive medical charges and procedures.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>


Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>


9.2 Percent: Gender Pay Gap Second-Smallest On Record

This is the second-smallest gap since the series began 20 years ago. In comparison, the gender pay gap was 9.1 percent in 2012 (the lowest on record) and 9.4 percent last year. More>>


Forest & Bird: Report Find Council Failures On Effluent

The report exposes significant inconsistencies and gaps in how regional councils are enforcing the rules around dairy effluent management. More>>


Mana In Mahi: Helping Young New Zealanders Into Work

Thousands of young people will be given the chance to gain valuable qualifications and meaningful work under the Mana in Mahi – Strength in Work scheme launched by Prime Minister Jacinda Ardern today. More>>


Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and into 2020, longer than we projected in our May Statement. The direction of our next OCR move could be up or down. ... More>>