About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, April 1st, 1:24PM
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
  • AMP partners with Paul Henry
    “Wow! Is anyone going to lay odds on how long it is before Paul Henry embarrasses AMP by saying something childish, or just...”
    5 hours ago by Giles Thorman
  • Register under review
    “This issue was identified and raised in submissions when the legislation was being drafted - and ignored. The register should...”
    8 hours ago by btw
  • What is the value of CPD?
    “What all this discussion says to me is that there seems to be a lot of emphasis on doing CPD to meet the requirements of...”
    1 day ago by Brent Sheather
  • What is the value of CPD?
    “David - so in your words " Where does a Risk Specialist AFA go for relevant CPD material? Company product launches don't...”
    2 days ago by gavin austin adviser business compliance
  • Clients complain about adviser fees
    “It is interesting to note that in the article, FSCL state they receive 2 or 3 similar complaints a month. Nothing wrong with...”
    2 days ago by Another AFA
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 PHP Developer and eyelovedesign.com