Cover levels
Qualifying age: Individuals can generally apply for a new health cover plan between the ages 16 – 65.
Children can generally be added to a parent’s policy at age 3 months.
Typical excess options: Nil, $250, $500, $1,000 or $2,000 +
Typical cover limits: $300,000 for surgical treatments
$300,000 for non-surgical treatments
For other benefits, please talk to us or see the individual company’s policy document
Pharmac/non Pharmac (Medsafe): All insurers cover the subsidised medication provided through Pharmac (which can be restricting). There are some providers however that cover the entire Medsafe range (not just restricted to Pharmac subsidised range) of medication. This can be a valuable benefit to anyone whereby the specialist may prefer to prescribe a more expensive treatment plan; of which the insurer may meet the costs of. Knowing the difference between Pharmac and Medsafe is a vital conversation to have when looking at the options provided by Health Insurance companies.
About premiums: Health insurance premiums are set using a risk rating system based on age and sometimes other factors such as gender, whether you are a smoker or non-smoker, or have a healthy and active lifestyle. People of a similar age, gender and risk are often grouped together and pay the same premiums. This system accurately reflects the true health costs of each group. It also means premiums increase as you age, because older people tend to claim more, which in turn costs the insurer more to pay their claims.
Keeping your plan up to date: Many health insurance providers’ policies are not guaranteed!
The insurance company has the right to make unilateral changes to existing clients’ policies – they can change or simply take away benefits.
How would you feel if, after paying premiums loyally for many years, you discovered that just when you needed to claim, a treatment cost previously covered was now excluded?
We recommend policies that have guaranteed wordings, so while the insurer can and will make your product better, they can never take benefits away!
Please refer to the relevant policy document for full details of the insurance contract and the terms, conditions, limitations and exclusions that may apply.
