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

 


Southern Cross expands into new territory

New Zealand’s largest health insurer, Southern Cross Health Society, is expanding into new territory and launching a new day to day ‘HealthEssentials’ consumer product with the affordable price point of $1 a day.

HealthEssentials is targeted at the 20’s and 30’s age groups, a demographic that has traditionally eschewed health insurance.

Southern Cross research carried out by TNS shows that 72% of the 20 - 39 market don’t have health insurance and, of that, 37% say they won’t consider getting it.

Despite this, they are users of day to day health services.

• In the last year 69% of the 20 - 39 age group went to a GP, 31% have been to a dentist or hygienist for a check-up, 19% purchased glasses or contact lenses and 17% went to an optometrist for an eye exam.

They are also users of technology.

Peter Tynan - Southern Cross Health Society Chief Executive says, “With the aim of keeping things easy, members can get a quote, apply and manage their policy online.

“There has also been a mobile app released today. This is a first for New Zealand health insurers and enables members with HealthEssentials to claim and check their benefits.

“We first looked at day-to-day health services in 2012 and realised we needed to offer an entry level product with what would not be seen as traditional health insurance benefits.

“Research with the ‘under 40’ market told us that 45% worry about paying for day-to-day living costs and 37% their personal health.

“Whereas traditional health insurance covers you for unexpected health events and typically covers high costs like surgery, diagnostics and specialist consultations, HealthEssentials covers up to 75% of the cost of GP consultations, dental and optical costs, physiotherapy, acupuncture, dietician, chiropractor, osteopathy and remedial massage costs up to the policy limits.

Tynan says the product is designed for New Zealanders who want to take more responsibility for their health but struggle to relate to the need for full health insurance.

“Day-to-day cover products are well-established and popular overseas. Southern Cross’ own research shows that the top two benefits of these products are:
• it covers the essentials without blowing the budget 46%

• it minimises any financial surprises 45%.”


Of Southern Cross’ existing members those in the 20-39 age band claimed for 110,952 GP consultations, 29,335 physiotherapy consultations and 9,828 chiropractor consultations in 2013.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news