About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, September 3rd, 7:55AM
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

Tip from the top

Fidelity Income Protection
Changes to the wording make it easier to issue policies, but advisers should be careful about proof of income.

News Bites
Latest Comments
  • 800 AML returns sent to FMA
    “Maybe those 50 entities have concluded it is an absolute nonsense. ...”
    5 hours ago by Stan walker
  • 800 AML returns sent to FMA
    “I'm now curious as to how all of the submitted information will be used by the FMA. My review of the questionnaire was...”
    6 hours ago by Pragmatic
  • What’s the point of independent advisers?
    “I agree with John’s view that independent financial advisers have a key role to play in the market. At ANZ we fully support...”
    21 hours ago by John Body
  • Bank advice 'an area of concern'
    “A few weeks ago, I provided advice to a new client in a comprehensive financial plan. There were numerous recommendations,...”
    21 hours ago by AFA Muggins
  • New course for mortgage advisers
    “I would like to join the course, I have recently registered my self as a RFA ...”
    21 hours ago by Dilkhush Surani
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