A committee representing the health insurance industry has been formed by the FSC following last November’s decision by the Health Funds Association to join the industry body.
Co-chairs of the FSC’s Health Committee are Len Elikhis, AIA’s Chief Officer Product and Vitality, and Lance Walker, Chief Executive Officer at Accuro Health Insurance. Southern Cross Health Society’s CEO Nick Astwick is also be a member.
FSC’s CEO Richard Klipin says the committee will add “…significant capability to the (FSC’s) membership and will enable it to drive more innovation, change and education for the benefit of New Zealand”.
The full list of committee members is yet to be released by the FSC, with Klipin saying appointments are a work in progress. However, members are due to meet this week for the first time to establish their terms of reference and will hold monthly meetings thereafter. Meetings are open to all FSC members.
The private health insurance sector services more than 1.4 million New Zealanders and paid more than $1.3 billion in claims in 2020.
Elikhis says 25% of health claims come from customers aged under 45 and that claims for new cancer drugs are being made at an “unprecedent rate”.
Walker says medical innovation is developing rapidly and that premiums paid by customers enable it to continue funding access to these innovations.