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The number of New Zealanders with health insurance rose by 25,900 to 1.383 million in 2017. This is the strongest annual growth in coverage since 2001, according to the latest report from the Health Funds Association of New Zealand (HFANZ).
In 2017, lives covered increased by 1.9%, particularly in the working age group, HFANZ chief executive Roger Styles said.
Nearly 19,000 of the additional lives covered were in the 20-64 age group, with 12,900 of them aged 25-39. Much of this could be attributed to a combination of general employment growth and an increase in the availability of employer-subsidised health insurance, Styles said.
“It is pleasing to see an increasing number of employers providing health insurance plans for their staff,” he noted. “They recognise that wellness in the workplace is important, not only for employee health but also as part of their new workplace health and safety responsibilities.”
According to HFANZ, health insurance paid out $309 million in claims for the December 2017 quarter, up 4%, and $1.185 billion for the December 2017 year, up 5% – or $57 million – on the 12 months to December 31, 2016.
“Annual claims have effectively doubled over the past decade, as people have accessed both a greater volume and a wider range of services and treatments through health insurance,” Styles added.
HFANZ said with most health insurers being not-for-profits, premium income also increased broadly in line with claims paid. Premium income for the December 2017 quarter was up $11 million to $369 million. Annual premium income for the reporting period was up $74 million to $1.431 billion.
