Take Care, Take Cover
Your health is possibly the biggest asset that you’ll have, and one that is possibly the easiest to look after. Without your health, your lifestyle will be impacted – if you can't work it becomes hard to look after those you love - your family.
Medical cover can include hospitalisation and surgical costs, though also has additional options available for enhanced cover.
Your family’s health is also important. As a parent, your child’s health can take not only an emotional toll on you, but a financial toll too. Your sick leave or annual leave might be spent looking after a sick child while on a waiting list to see a surgeon.
New Zealand’s lucky to have a national health system that we can rely on in times of immediate need. But with budget cuts and funding restraints, when suffering from an illness we can also experiencing long delays for diagnosis, treatment or surgery for conditions that may be non-urgent.
Though life sometimes tries to stop us in our tracks, not many people can stop working. The waiting list for elective surgery in New Zealand varies depending on where you live – meanwhile your injury or condition may be reducing your quality of life. Having private health insurance can mean that you’re able to see your GP, be referred to a Specialist and be treated for your condition without waiting for a slot to become available on the public waiting list.
The Cost Of Care
Getting treatment for specialist consultations and diagnostic procedures that do not require hospitalisation can also be incredibly expensive. Optometrists, dentists, hearing specialists or physiotherapists can take a toll on not only your health, but also on your wallet. Many health insurance policies offer you the option to get pre-approval for your treatment, or reimbursement of what you’ve already paid for procedures.
You’ll be able to cut down on the time spent waiting for treatment, so that you can get back on your feet and get on with life.
The average cost for an adult to visit their GP has risen from $30.18 in 2009 to $37.14 in 2014. (Statistics NZ, 2015).
Health benefits can play a critical role in retaining existing staff and attracting new talent to your organisation. Lifetime financial adviser Carmen Lapthorne warns business owners and HR managers against making these common mistakes.
From relying on only Pharmac-subsidised drugs to thinking you’re fully covered by your work health insurance, Lifetime adviser Lisa Davis warns of the common mistakes we make when selecting health insurance and how best to avoid them.
Moving from the default ACC Cover Plus to ACC Cover Plus Extra might sound like an expensive exercise, but when topped up with appropriate personal cover, it can cost you less per year for more comprehensive cover that pays out in circumstances of illness as well as injury.