Just 37% of Kiwis Have Health Insurance


The latest perception gap report from the FSC looks at health insurance, and why nearly all New Zealanders insure their property and cars, but not their health and wellbeing.

Its data shows that the health insurance industry supports around 1.45m New Zealanders and in the last year paid out $1.8 billion in claims, many relating to elective treatments, such as orthopaedic and gynaecological services. Around a quarter of all claims are by customers aged under 45.

Since 2020 the industry has continued to grow with more New Zealanders opting to obtain and retain their health cover, a similar trend to those found internationally, says the FSC. Despite this growth, the latest research shows that just 37% of Kiwis invest in health insurance.

Of those who do have cover, the top health concerns are mental health and wellbeing (34%), which is significantly higher for younger generations than older, says the FSC. Overall, respondents also worry about cancer (14%), heart disease (12%) and muscoskeletal conditions (9%).

Data from 2020 also shows that average claim levels for those with health insurance start from newborn and steadily grow to a peak around the age of 60-64.

Data and graphic / FSC.
Data and graphic / FSC.

This article is based on the FSC’s Money & You – The Perception Gap which is available here.