Stories of long wait times, delayed diagnoses, and insufficient drug funding are becoming all too common, prompting a surge in interest in health insurance. Read on to explore what’s happening and how health insurance might help ease some of your concerns.
Avoiding long wait times
One of the primary benefits of health insurance is the ability to bypass the public system’s lengthy waiting lists. Health NZ’s latest report revealed that nearly 77,755 patients had to wait longer than four months just to get their first specialist appointment. With over 44% of patients now waiting more than four months for treatment, with some waiting over a year.
These delays can lead to serious consequences, with conditions potentially worsening while patients wait for care. With health insurance, you can see specialists and undergo medical procedures much more quickly, reducing the risk of your condition deteriorating while you wait.
Access to advanced treatments and medications
Health insurance also provides access to treatments and medications that aren’t covered by the public system. For instance, some advanced cancer treatments and non-PHARMAC medications, which are not publicly funded in New Zealand, can be very expensive out of pocket. Health insurance can bridge this gap, covering the costs of these critical treatments and potentially saving lives.
Recent reports from RNZ show that private insurers like AIA have seen a substantial increase in claims for cancer treatments, with the company paying out $244.1 million in 2023 alone. This reflects the growing reliance on private healthcare to access life saving treatments that the public system cannot always provide.
Access to subsidised overseas treatment
Medical tourism is on the rise in New Zealand, with Otago research showing that increasing numbers of people seeking treatment overseas due to long wait times, lack of available treatments, and dissatisfaction with the healthcare system. For example, RNZ reported on a patient who had to travel abroad for critical care due to complications with PHARMAC funding. This can be extremely expensive, but many health insurance providers cover some or all of the costs associated with overseas medical treatment.
What should you do if you’re concerned?
If you’re concerned about relying solely on public healthcare, speaking to a Haven Adviser can help you determine whether health insurance is the right choice for you and your family. We offer a range of options at different price points, ensuring you can find cover that suits both your needs and budget. One of the most valuable benefits of health insurance is the peace of mind it provides. Knowing that you can access the right treatment without worrying about long delays or high costs allows you to focus on what matters.
Contact us today to book an advice meeting and explore your options.
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