Health insurer nib is extending its member support packages, first introduced in April, until the end of the year.
In a statement to financial advisers the company says that given the ongoing Covid-19 situation it is extending the following elements of its support package until 31 December 2020:
- The ability for eligible existing members who are experiencing financial hardship to suspend their health insurance policy and premium payment for up to six months*
- Cover for GP or specialist consultations that need to be conducted via video or tele-consultation due to Covid-19*
- Ability for existing members to increase their excess (payable upon hospital admission) to the maximum allowable level under their policy without needing to be re-underwritten if they choose to reduce their excess as their financial situation improves^
The company says it has other (unspecified) financial hardship options available that can considered on a case-by-case basis by the firm, and that members experiencing financial hardship should contact nib.
Free cover
Nib is also offering two-months’ free cover for new clients signing up for Ultimate Health Max, Ultimate Health or Easy Health using nibAPPLY by 31 January 2021. While clients will pay the first month’s premium, the following two months are free. The free period will not affect adviser commissions, says the company.
*nib support package will be available for existing nib members (as at 31 March 2020) until 31 December 2020. Policy terms and conditions still apply. Members must have GP or specialist cover under their policy to apply for the relevant tele or video conference benefits.
^Members must apply for the excess reduction by 30 June 2021.
nib’s top 5 claims for August:
- Spine surgery: $98,810
- Coronary bypass surgery: $78,780
- Spine surgery: $77,530
- Aotic valve replacement: $72,860
- Coronary bypass surgery: $72,850