About Careers Internship MedBlog Contact us
Medindia LOGIN REGISTER
Advertisement

Private Health Insurance Policy Holders on the Rise

by Medindia Content Team on August 7, 2006 at 9:38 AM
Font : A-A+

Private Health Insurance Policy Holders on the Rise

There has been a remarkable increase in the membership of health insurance companies. The public hospital waiting list cuts is one of the major reasons for it.

Southern Cross Healthcare, a major health insurance company in New Zealand, has enrolled around 7,500 new members to make a total of 808,000.

Advertisement

According to Claire Austin, Executive director of Umbrella group Health Funds Association, there has been a 1% increase in membership of health insurance companies in the last quarter. She says, "People are increasingly concerned about a lack of ability to access elective surgery from a health system significantly under pressure."

But, with the advent of a fringe benefit tax and rising premiums, the % of policyholders had fallen from 50 to 35. 1,00,000 members quit the Southern Cross Insurance policy in 2003, due to hike in the charges. Some of the members who retained their policy got a double premium especially the aged ones. Southern Cross announced a further hike due to an increase in the cost of surgery and the number of claim per member. Chief executive, Ian McPherson, reports that 29% of the members are above 65 years in age and undergo surgery every year.
Advertisement

Southern Cross Healthcare is a major health insurance company with 60% of the policyholders, Tower has 2,20,000 policyholders, Sovereign has 100,000 and UniMed with around 65,000.

Robin Booth, Canterbury District Health Board member, realized the difficulty of getting elective surgery and took out a private medical insurance of about $12 a week. He wanted the board to encourage people to take private policies, whoever could afford it.

Rising premium had made Joy Pipe, 72, quit her Insurance policy. Unfortunately, later. she was even cut off from public hospital waiting list. Two years back, she was able to move around freely, but since last year she is struggling to even walk about at home due to severe spinal deterioration and pain. This condition, spinal stenosis, is not treated in Canterbury's public hospitals. Ultimately, she had to remortgage her house to meet the surgery expenses.

Advertisement

Advertisement
News A-Z
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
What's New on Medindia
Alarming Cesarean Section Trends in India - Convenience or Compulsion of Corporate Healthcare
Quiz on Low-Calorie Diet for Diabetes
World Heart Day in 2022- Use Heart for Every Heart
View all
Recommended Reading
News Archive
Date
Category
Advertisement
News Category

Medindia Newsletters Subscribe to our Free Newsletters!
Terms & Conditions and Privacy Policy.

More News on:
Health Insurance Plan Third Party Administrators for Health Insurance Star Health and Allied Insurance Health Insurance Policies offered by Bajaj Allianz Insurance ICICI Lombard General Insurance Company Limited Health Insurance Health Insurance - Ombudsman Health Insurance - Basics New India Assurance Policies Cholamandalam Health Insurance Policies 

Most Popular on Medindia

Diaphragmatic Hernia Selfie Addiction Calculator Nutam (400mg) (Piracetam) Accident and Trauma Care Pregnancy Confirmation Calculator Drug Interaction Checker Turmeric Powder - Health Benefits, Uses & Side Effects Drug Side Effects Calculator Blood Pressure Calculator A-Z Drug Brands in India
This site uses cookies to deliver our services. By using our site, you acknowledge that you have read and understand our Cookie Policy, Privacy Policy, and our Terms of Use
×

Private Health Insurance Policy Holders on the Rise Personalised Printable Document (PDF)

Please complete this form and we'll send you a personalised information that is requested

You may use this for your own reference or forward it to your friends.

Please use the information prudently. If you are not a medical doctor please remember to consult your healthcare provider as this information is not a substitute for professional advice.

Name *

Email Address *

Country *

Areas of Interests