How Kiwi parents view health insurance
A recent survey by health insurance provider nib found that over half of New Zealand parents do not have health insurance. In this financial climate, it’s no surprise to learn that cost is a barrier for many, but there are also other factors at play here. Here’s what the survey tells us…
Of the 54% of parents who don’t have health insurance in place, 77% stated that it was too expensive. This number has grown from 71% in 2022, which likely aligns with the rising cost of living and ‘other priorities’ being focused on.
For some other respondents (12%), health insurance was not top of mind, while 11% saw it as unnecessary and 8% had simply not gotten around to it.
However, many respondents also reported barriers around their knowledge and understanding of health insurance, with 16% stating they needed to learn more about it, and 4% finding it intimidating. These numbers were higher for Māori and Pasifika parents, 29% of whom said they needed to learn more, while 11% of Māori found intimidation a barrier.
Of those who did have health insurance, Asian parents led the pack, with 62% having cover. A third of all insured parents had this cover provided through their work, and 64% had already made a claim on their insurance. Around half of these parents stated that their reasons for taking out insurance were about having peace of mind, while 48% saw quicker access to services as the main driver.
This is both about reducing wait times and having better access to quality care and medications that may not be covered by the public health system. This is no joke, as there have been reports of patients dying in busy hospitals or while on public health wait lists, or not being able to access lifesaving medicine.
In less extreme cases, the simple reduction in suffering through access to quicker care can have a huge impact. This can be on both on a patient’s wellbeing and, as patients on wait lists are often not able to work, on a family’s income too.
With all these factors at play, it is important that kiwi parents are educated about the benefits of health insurance and supported with expert guidance to make a decision that is right for them.
While the current rising cost of living has resulted in some people presuming it’s too expensive there are still medical insurance covers in the market that are highly affordable for many if they choose one of many multiple excess options. This makes medical insurance cover affordable now and, through excess adjustments over time with lifestyle and financial situation changes, in the future also.
If you think such advice might help you or someone you know, be sure to get in touch.
We can take you through a simple explanation of what particular medical insurances cover, and do so in a way that’s easy to understand. This no-obligation consultation has helped many of our customers clarify exactly what’s affordable – and the value this cover provides today, tomorrow, and for the many tomorrows to come.
