Online Health Insurance Provides Affordable Premium Options

5 October 2011

Online Health Insurance Firm Provides Affordable Premium Options

Consumers seeking peace of mind when it comes to their future health care now have a more affordable option with the launch of a new online website health insurance provider.

Online website insurer DiscountedMedicalinsurance.co.nz provides comprehensive medical cover at discounted prices and provides options to keep health insurance affordable.

Director Des Morgan says the demand for elective surgery will increase significantly over the next 20 years as the number of New Zealanders over the age of 65 grows to one million.

“The notion that the government of the day will be able to pick up the tab and keep the present levels of public health care for the next 20 years is fanciful. The message is clear that consumers are going to have to pay more for their own health costs in the future” Morgan said.

To make health insurance premiums more affordable Morgan is an advocate of utiliising voluntary excesses available on health insurance policies. “If you nominated a $1,000 excess in the event of an operation that was going to cost $26,000 you would pay the first $1,000 and the insurer would pick up the rest of the bill” Morgan said.

Morgan said a couple - male aged 45 non smoker and his partner a female aged 42 non smoker would pay in the vicinity of $65,000 for their medical premiums over the next 20 years for a comprehensive medical product from a top rated insurer with their standard no excess policy.

By nominating a $1,000 excess and being prepared to pay the first $1,000 in the event of an operation total premiums paid after 20 years would be in the vicinity of $44,000. A premium savings of $21,000.

Morgan said the DiscountedMedicalInsurance.co.nz website is designed for those DIY New Zealanders who do not want individual advice, wish to purchase their medical insurance online with no adviser contact and as a trade off obtain discounted premiums for the life of the policy.

“As no individual advice is given customers receive a discount of 8% off the premiums for the life of the contract which as you can see from the above illustration amounts to a substantial savings in premiums” Morgan said.

Morgan uses One Path a company of ANZ as the first port of call for medical insurance, simply because they provide Cover for non-funded drugs. “We believe all of us should have access to the best possible treatment when we are sick. For this reason we promote One Path Major Medical Cover. Unlike most others, One Path Major Medical Cover does not limit drugs and treatments to those funded by the Government (PHARMAC).”

ENDS

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