You may think that health insurance is unnecessary in a country like New Zealand, where we have a public health system. We get specialist and hospital care free right? This is true, however it is more complex than you might think.
If you have an accidental injury you will have access to New Zealand’s public accident insurance scheme (ACC). This system looks after those with injuries well, offering prompt and comprehensive treatment.
If you have a non accident related medical issue, you will have access to New Zealand’s public health service. The key problem with the public health system is the time it takes to receive treatment.
New Zealand’s public health system provides immediate care for acute conditions. If you have a serious condition, but it is not deemed acute, you may have to go onto a waitlist for months or years before you receive treatment. This can mean living for months in pain, it could prevent you from being able to work and can also affect your mental health.
New Zealand’s private health system has little or no wait times for specialist appointments or treatments. The downside is that this prompt service comes at a cost that most people cannot afford. This is where health insurance comes in. A health insurance policy can give you peace of mind knowing that you can access healthcare when you need it.
Some of the questions you should ask yourself when considering taking out a health insurance policy are:
- Am I prepared to go onto a long waiting list for a serious medical condition?
- Could I afford to pay for private healthcare treatment if I needed it?
- Can I afford time off if I am unable to work due to waiting for treatment?
If your answer to the above questions is no, then a health insurance policy could be useful for you.
How does health insurance work?
When applying for health insurance your provider will ask a range of questions and will use the information obtained to work out your premiums. You can usually choose to pay this in full; or split the payments into quarterly, monthly, fortnightly or weekly payments. There are no discounts if paying your premium annually or any other frequency.
Your insurance policy can either cover you in full for all treatments or you may choose to lower your premium by having your insurance policy part pay for your treatments – leaving an excess amount to be paid by you (you can choose your excess amount when setting up your policy).
What are the benefits of health insurance?
A health insurance policy offers you the peace of mind knowing that you can access treatment quicker than having to go through the public system. You can help to prevent financial stress, as you will likely reduce the amount of time you may need off of work by not having to wait for treatment. You also get more choice over who you see for your treatment.
The key benefits of taking out a health insurance policy with Lifestyle Solutions are:
- Unlimited cover towards surgery (depending on the policy).
- Up to $300,000 for cancer care.
- Your choice of medical provider.
- Specialist consultations.
- Choice of excess options that can help you keep your premiums affordable.
Lifestyle Solutions health insurance covers the cost of private medical treatments, that includes surgery, cancer treatment, non-pharmac cover, specialist consultations and more. We understand that health insurance needs to be tailored and be in accordance with your lifestyle, history and possibly your family’s history. Get covered with confidence with a personal policy designed to meet your needs and circumstances. If you’d like to discuss options for health insurance to suit the needs of you and your family, or review your current policy please contact us for quality, customised lifestyle solutions.
