More young adults taking out health insurance: HFANZ

More young adults taking out health insurance: HFANZ

More New Zealanders aged 25-35 are taking out health insurance policies, according to statistics released today by the Health Funds Association of New Zealand (HFANZ).

The number of lives covered by health insurance rose 1800 in the June quarter, bringing the total to 1.334 million New Zealanders, or about 29 percent of the population. In the 12 months to the end of June, there was an increase of more than 3300 people aged 25-35 who took out policies, which HFANZ acting chief executive Chris Pentecost said was possibly attributable to the popularity of new, low-cost health insurance products aimed at this age group.

The ageing population has again seen an increase in lives covered in the over-65 age group, which was up around 3600 to just over 150,000 New Zealanders at the end of June.

Mr Pentecost said total numbers had held reasonably steady over the year to the end of June, and he welcomed the growth in the most recent quarter.

“It’s pleasing to see so many people value the importance of their wellness by having health insurance. Our research has shown that people with health insurance can be seen and treated without delay, while the average waiting time from GP referral to surgery in the public system can be upward of seven months,” he said.

“New Zealanders with health insurance can return to work quicker, which is a good thing for workplace productivity and avoids placing greater stress and workload on colleagues and those family members who may have to stay at home to look after their sick loved one.”

Total claims paid amounted to $1.013 billion for the year ending June 30, 2015 – up 4.8 percent on the previous June year. Claims paid for the June quarter were $266 million, up 5.5 percent on the June 2014 quarter. Mr Pentecost said this underpinned the valuable contribution health insurance made to funding healthcare in New Zealand, with total claims paid having virtually doubled in the past decade.

ends

© Scoop Media