Younger People See Value of Health Insurance


An increasing number of young people are taking out health insurance and $400 million in claims were paid in the three months to 30 June, says the FSC – an increase of almost $60 million on the three months to 31 March.

“Although the current lockdown has impacted the availability of private health services, with most elective surgeries being postponed, we expect to see services restored as New Zealand moves down alert levels,” says FSC CEO Richard Klipin.

Klipin says more than 1.4 million Kiwis have health cover and $1.5 billion has been paid in claims in the 12 months to 30 June. Premiums paid during the same period totalled $1.88 billion.

Co-chair of the FSC’s Health Committee Lance Walker, says: “Data further reveals that more younger Kiwis view health cover as an important part of their financial and overall wellbeing, around one in three customers with health cover are under the age of 30.

“In the last year orthopaedic surgery, cancer, and gynaecological treatments were the top three areas of support funded by health insurers.”

Graphic: FSC