According to Stats NZ data 1.45 million New Zealanders are paying almost $2 billion a year for private heath insurance. The country’s population sits at 5.2 million.
According to data released by the FSC, around three quarter of the annual income received by health insurers is paid in claims and the highest claims by dollar value – in the three months to December 2021 – was paid to treat those aged between 50 and 64.
In the last quarter of 2021 more than $386 million was paid out by health insurers, with women aged under 64 having higher value claims than men. From age 65 men claimed more than women during the same period.
Data also reveals a rise in the amount paid by consumers for major medical cover – rising from an estimated $450 million in the last quarter of 2020 to $500 million in the last quarter of 2021. Premiums earned for comprehensive cover rose slightly to an estimated $140 million in the last quarter of 2021.
