Private Medical Cover Premium Changes – Partners Life

Partners Life has announced changes to its Private Medical Cover premiums taking effect from April 22, 2026.

In an Adviser Update the insurer says it regularly reviews its Private Medical Cover premiums “…to ensure we maintain the quality and sustainability of our benefits for clients.”

It says that following its most recent review, the changes below will apply to new and existing business from 22 April 2026:

• Partners Life Journey Plan – Private Medical Cover (including any options): Underlying premium rates will increase by 2.0%
• Partners Protection Plan – Private Medical Cover (including the Specialists and Tests Option): Underlying premium rates will increase by 16.6%
• Medical policy fee (both products): The Private Medical Cover policy fee will increase by 3.0%, from $64.13 to $66.05 per annum.

… the medical insurance industry is operating in a challenging environment…

In a FAQs document for advisers Partners Life outlines the reason for these changes, stating that across the world and in New Zealand, the medical insurance industry is operating in a challenging environment.

“Among the key contributing factors are rising medical costs, including pharmaceuticals, specialist services and technology, an increased volume of claims, and a struggling public health system that is leading to more people taking out private healthcare cover.”

It says it is “…responding to these challenges by reviewing our pricing more frequently so that we can continue to effectively service your clients’ needs.”

The company notes that it has also recently introduced its Partners Life Journey Plan product suite, “…that allows clients to remove options from their Private Medical Cover they do not require. Clients on Partners Protection Plan Private Medical Cover can choose to transfer to Partners Life Journey Plan Private Medical Cover if it better suits their needs.”

As to why it’s increasing medical rates on Partners Life Journey Plan, Partners Life says it intends to regularly review all medical pricing to ensure it remains sustainable and reflects its expectations of future claims.

“While Partners Life Journey Plan has only been available since late 2025, our expectations of claims will be formed based on the overall medical portfolio, which includes both Partners Life Journey Plan and Partners Protection Plan covers.”

It says that medical claims costs can change quickly.

“By making adjustments more frequently, this approach helps us to more quickly reflect actual experience to date and expected future trends, and keep pricing aligned with market conditions and competitor relativity.

“Frequent reviews and timely adjustments support our commitment to managing medical products responsibly and ensuring they remain viable for the future,” the company says.