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

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news