When discussing private healthcare solutions with your financial adviser it is important to grasp fully the need to have private health insurance and how to choose a product that is best suited to your needs.
For instance, while we are lucky enough to enjoy a great public health system here in NZ, if you rely on the public system might mean a longer wait for treatment and the inability to choose a preferred specialist. In addition, if your condition is not the result of an accident, you won’t be able to rely on the ACC (Accident Compensation Corporation) to pay for treatment.
Health insurance, on the other hand, can help you access treatment faster, allow you to choose your own specialist and is a great way to cover costs of private procedures and treatment. nib is one of New Zealand’s leading health insurers, committed to providing innovative and accessible health solutions to its customers and pays over $500,000 in claims every working day to New Zealanders. In the six months to December 2017, nib paid out almost $65m in benefits including cover for cancer treatments, GP consultations and preventative health measures like visits to dentists and the purchase of new glasses.
If many of these customers did not have health cover through nib they would have had to face the financial burden of these costs on their own which can add additional stress during what is already a difficult period. With the stress of the financial side of things taken care of, nib customers can concentrate on getting better. While health insurance does take care of those really big claims, the value also lies the multitude of smaller claims that that may come your way if you face a medical event.
Keeping all this in mind, it can be said that private health insurance is an investment, not a cost. It provides security for you and your family for those unexpected and unwelcome times.