About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, May 29th, 5:56PM
rss
Latest Headlines

More health premium rises

Sovereign looks set to become the next insurer to unveil increases in its health insurance premiums.

Wednesday, September 26th 2001, 11:48PM

It will announce details of the rises and changes to its health plan policy at roadshows in the middle of next month, Sovereign marketing manager risk, Michael Hewes says.

Rates for disability income will also rise.

Hewes says the health premium rises were partly due to a sharp increase in the number of people holding health insurance.

"Since last year there’s been more than 48,000 new insured people. Now nearly 35% of Kiwis have health insurance."

However, the additional premiums paid haven’t made up for the rise in treatment costs, he says.

Higher drug prices were another reason for the increase.

Sovereign’s last premium rise was more than two years ago.

"This one isn’t dramatic, it’s in line with the extra costs of new treatments, and drug costs going up," Hewes says.

The roadshows will include presentations by General Cologne Re's Australian general manager Michael Molesworth, on background issues that led to the rises.

Tower Health has already said it will raise health insurance premiums by up to 20% in October.

Tower’s increase will affect about 60,000 people, or half its health insurance clients.

Tower blamed the rises on higher claims, which it said had leapt 25% in the last year.

Southern Cross and Aetna have also raised their health insurance premiums.

« AMP plays catch upGIO's credit rating goes up »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Strategy Thoughts
News Bites
Latest Comments
  • FMA starts major investigation into churn
    “Does anyone know if the Banks are included in this fishing exercise? And how will the FMA be able to differentiate between...”
    5 hours ago by I was wondering
  • Getting to know...Peter Leitch
    “And a thoroughly nice guy to boot. "Good on yer, Peter! We need more advisers of your ilk" (Wonder how many will scurry...”
    6 hours ago by Robert Oddy
  • Did issues paper miss opportunities?
    “This response is an attempt to get some debate going here. Angus is reported as making 3 major points here. I would grade...”
    6 hours ago by Murray Weatherston
  • Getting to know...Peter Leitch
    “Never met the Mad Butcher, I am sure he is a nice chap. I have met this Peter Leitch and he is definitely a nice chap; and...”
    6 hours ago by Giles Thorman
  • New Zealand advisers won't dodge bullet: Rickerby
    “The reality is and any decent broker knows it, Life Insurance is more of a commodity these days with guarantees of upgrade...”
    11 hours ago by Mark Ogden
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com