News Video | Policy | GPs | Hospitals | Medical | Mental Health | Welfare | Search

 


Health insurance boost first since 2009

February 3, 2014

Health insurance boost first since 2009

Health insurance numbers are showing signs of growth after more than four years of decline, in a reflection of New Zealand’s improved economic outlook, according to the Health Funds Association (HFANZ).

HFANZ chief executive Roger Styles said when releasing the figures today that the number of New Zealanders with health insurance had improved by 800 in the December 2013 quarter, on the back of growing employment and economic confidence.

“It is a good sign that we’ve seen a return to positive growth in the number of policyholders largely on the back of an improving economy. As things gain momentum over the next year or two, we will likely see further growth in the number of lives covered.”

Mr Styles said there was some anecdotal evidence that the role for employer-subsidised health insurance might get a boost as the labour market tightens and firms looked at wider benefits in an attempt to attract and retain staff.

“This is all a reflection of our rock star economy,” Mr Styles said, using the phrase coined by global bank HSBC to describe New Zealand’s strong predicted growth this year.

Total lives covered by health insurance as at December 31, 2013 stood at 1.336 million, an increase of 800, or 0.1 percent, over the past quarter and the first quarterly increase recorded since June 2009.

On an annual basis, lives covered declined by 11,300, or 0.8 percent. For the past five years, the number of lives covered has been trending downward, with a reduction of 60,000 lives covered – or around 4.4 percent – since December 2008. Mr Styles said the declining trend had flattened out over 2012 and 2013.

Claims paid for the December 2013 quarter totalled $242 million, up 5.2 percent on claims paid in the December 2012 quarter. Claims paid for the 12 months ending December 31, 2013 were $943 million, up 7.7 percent on December 2012 year claims.

Mr Styles said the claims paid in the December quarter were the third-highest recorded for a quarter, with the highest having been the $256 million paid out in the previous September 2013 quarter.

“Total health insurance claims paid are on track to reach a billion dollars this year, underpinning the valuable contribution health insurance makes to total health spending,” he said.

Premium income for the December 2013 quarter totalled $293 million, up $6.5 million or 2.3 percent on the September 2013 quarter. Annual premium income for the year to the end of December was $1.140 billion, up 4.3 percent on the December 2012 year.

Click here to read the full statistical analysis.

ENDS

© Scoop Media

 
 
 
 
 
Culture Headlines | Health Headlines | Education Headlines

 

Architecture:
Ian Athfield Dies In Wellington

New Zealand Institute of Architects: It is with great sadness that we inform Members that Sir Ian Athfield, one of New Zealand's finest architects, has passed away in Wellington. More>>

ALSO:

Wellington Production: New-Look Tracy Brothers Are F.A.B.

ITV and New Zealand’s Pukeko Pictures today released an exclusive preview of the new-look Tracy brothers from this year’s hotly anticipated new series, Thunderbirds Are Go. More>>

ALSO:

Cardinal Numbers:
Pope Francis Names Archbishop From NZ Among New Cardinals

Announcing a list of bishops to be made Cardinals in February Pope Francis named Archbishop John Dew, Archbishop of Wellington, overnight from Rome. On hearing the news of the announcement, Archbishop John Dew said "This news is recognition of the Catholic Church in Aotearoa New Zealand, and the contribution it makes to the global Catholic family." More>>

ALSO:

Nomenclature: Charlotte And Oliver Top Baby Names For 2014

Charlotte and Oliver were the most popular names for newborn girls and boys in 2014... The top 100 girls’ and boys’ names make up a small proportion of the more than 12,000 unique first names registered for children born this year, says Jeff Montgomery, Registrar-General of Births, Deaths and Marriage. More>>

Werewolf: Katniss Joins The News Team

From the outset, the Hunger Games series has dwelt obsessively on the ways that media images infiltrate our public and personal lives... From that grim starting point, Mockingjay Part One takes the process a few stages further. There is very little of the film that does not involve the characters (a) being on screens (b) making propaganda footage to be screened and (c) reacting to what other characters have been doing on screens. More>>

ALSO:

Scoop Review Of Books: Ko Witi Te Kaituhituhi

Witi Ihimaera, the distinguished Māori author and the first Māori to publish a book of short stories and a novel, has adopted a new genre with his latest book. But despite its subtitle, this book is a great deal more than a memoir of childhood. More>>

Werewolf: Rescuing Paul Robeson

Would it be any harder these days, for the US government to destroy the career of a famous American entertainer and disappear them from history – purely because of their political beliefs? You would hope so. In 1940, Paul Robeson – a gifted black athlete, singer, film star, Shakespearean actor and orator – was one of the most beloved entertainers on the planet. More>>

ALSO:

"Not A Competition... A Quest": Chapman Tripp Theatre Award Winners

Big winners on the night were Equivocation (Promising Newcomer, Best Costume, Best Director and Production of the Year), Kiss the Fish (Best Music Composition, Outstanding New NZ Play and Best Supporting Actress), and Watch (Best Set, Best Sound Design and Outstanding Performance). More>>

ALSO:

Get More From Scoop

 
 

LATEST HEADLINES

 
 
 
 
Health
Search Scoop  
 
 
Powered by Vodafone
NZ independent news