About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   tmmonline.nz  |   landlords.co.nz
Last Article Uploaded: Friday, December 6th, 6:43PM
Latest Headlines

Little medical cover for mental health

Many medical insurance policies offer little cover for mental health, a new report has found.

Monday, July 10th 2017, 6:00AM

Gabrielle Jenkin and Samantha Ernst, of Otago University, looked at 36 policies from five insurers in New Zealand.

They found 55 per cent provided some cover for psychiatric consultations, 11 per cent for clinical psychologist consultations and 36 per cent for psychiatric consultations.

"We recognise that insurance underwriting is complex and that companies are balancing risk of claims against income. However, it is notable that the available cover is negligible compared to that available for many other common health problems," they said.

Insurers said the absence of cover was partly because of the nature of mental health conditions – there is not a clear treatment path in most cases, in the same way there is for a cancer diagnosis.Partners Life managing director Naomi Ballantyne said most mental health patients had their conditions managed rather than cured.

Partners was not in the business of “dollar swapping”, she said. If people wanted chronic conditions covered by medical policies, premiums would have to rise.

Adviser Tim Fairbrother questioned whether insurance cover was the right path.

“Some maybe critical of the extent of mental illness cover in medical insurance, but what are the options for treatment? Most medical insurance has limited benefits for surgical procedures as the options aren’t there, but there is extensive cover in the specialist and test option for counselling ...  This has become an epidemic within our youth and rural communities, but is this a medical treatment issue or a society prevention issue?’”

Tags: health insurance Naomi Ballantyne Partners Life

« Kiwi company attracts $200 million global investmentPartners restarts shadow share scheme »

Special Offers

Comments from our readers

No comments yet

Sign In to add your comment



Printable version  


Email to a friend
Insurance Briefs

Fidelity scores top award for third consecutive year
Fidelity Life has been named 2019 Life Insurance Company of the Year by ANZIIF for the third consecutive year.

Suncorp invests in wellbeing
Suncorp New Zealand has now invested a total of $20 million into wellbeing bonds as part of its focus on identifying sustainable investment opportunities that can deliver positive community outcomes.

AIA adds mental health support
AIA is boosting Vitality members’ donations to the Mental Health Foundation.

Major milestone for Cigna
Cigna, which acquired OnePath Life last year, is on the verge of reaching "a huge milestone".

News Bites
Latest Comments
Subscribe Now

Cover Notes - Specific news aimed at risk advisers

Previous 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