AA Health Insurance has launched non-PHARMAC Plus, an add-on to its private hospitalisation insurance policies that can help cover the cost of some drugs that are Medsafe-approved and prescribed under the Medsafe guidelines but aren’t funded by PHARMAC.
Annual benefit limits range from $50,000 to $300,000 per customer, allowing customers to choose the level of cover that best suits their health needs and budget, AA Health Insurance said.
Mark Savage, AA Health Insurance general manager, said the non-PHARMAC Plus option is being offered to support customers’ growing needs for wider choices, affordability and flexibility when it comes to modern medicines.
“If they are not funded, the cost of these medicines can run into the hundreds of thousands of dollars, Savage said. “Having to pay these out-of-pocket would, as you can imagine, place an incredible amount of further strain on the situation, where the patient is already under considerable stress from the diagnosis. By introducing this add-on, we are offering further protection to our customer’s health as the treatments, which can sometimes be life-saving, now become easier to access and pay for.”
Tafinlar, a medicine that is used to treat melanoma which can cost over $100,000 per year, has been Medsafe-approved since 2013, but is not funded by PHARMAC.
“It is also important to note that with non-PHARMAC Plus, it has the ability for customers to ‘future-proof’ their cover,” Savage said. “Put simply, when new unfunded medicines are available to treat critical illnesses, this add-on can provide cover for these.”
