A Hamilton-based insurance broker is working to bring health insurance to small businesses in the region, giving them access to previously out-of-reach coverage accessible to only larger firms.
Vahry Insurance recently partnered with the Hamilton Central Business Association (HCBA) for a scheme that targets firms with from five to 15 staff. These businesses usually cannot access extensive coverage because of their low employee numbers.
By pooling many small firms together, the scheme will allow its members to get better insurance terms. The scheme is thought to be the only one of its kind being offered in Waikato, a report by Stuff said.
Vahry Insurance and HCBA will hold an open day for businesses in March, which will allow them to learn more about the scheme’s benefits and financial implications.
“Vahry has brokered a deal whereby smaller firms can access what normally wouldn’t be available to them due to size,” HCBA general manager Vanessa Williams said.
According to the report, the scheme is backed by “New Zealand’s second-largest medical insurer”, but it has yet to be named publicly.
Julia Vahry, managing director of Vahry Insurance, said the scheme’s benefits include automatic acceptance of applications, coverage for all pre-existing conditions and fees competitive with the market.
“Pricing for these businesses is based on the average age and size of each firm,” she said, adding that the scheme can provide people with more health care options, especially with the public health system being under a lot of pressure recently.
“Since COVID, businesses are seeing the value more in this sort of thing,” Vahry said.
