How medical insurance can bridge the gap between public and private healthcare

We’re fortunate to live in a country with a public health system where Kiwis can get the medical help they need for free. However, given the pressures facing the public health system, including limited resources and understaffing, many people are opting for private medical insurance. Here’s why.

1. More treatment options and specialists

Not all specialist treatment is funded within the public health system and you might face long wait times. You also don’t have much control over your specialist or where or when your treatment takes place. This can impact your overall quality of life and delay your recovery.

Luckily, private health insurance allows you access to a wider range of specialists and treatment options, offering more choice and control over your health. You’re able to easily get the treatment you need, when you need it.

2. Reduced wait times

If you require expensive or complicated treatment or surgery, this usually means going on a long wait list under the public health system.

In fact, the number of people waiting more than four months for a specialist appointment in the public health system has doubled, and the number of people waiting longer than four months for treatment increased from just over 8,000 in February 2020 to nearly 27,000 in March 2022.

If you need treatment fast, private medical insurance can help bridge the gap with reduced wait times. This can mean less time away from work and family life, and a quicker recovery.

3. More available medicines

There are many medicines in New Zealand that are funded by the Government, which significantly reduces their cost. Medsafe approves drugs for use, and then PHARMAC decides which of those drugs can be funded in the public system.

Unfortunately, because PHARMAC has limited resources and has to operate within a tight budget, not all Medsafe-approved medicines can get government funding. This makes it extremely expensive to access them; for many Kiwis, effective or even lifesaving treatment can be unaffordable and out of reach.

Medical insurance can offer you access to Medsafe-approved drugs that are not funded by PHARMAC, giving you a wider range of treatment options without the costly price tag.

Want to know more?

If you’d like to learn more about the differences in New Zealand’s public vs private health system and what options may be available to you with medical insurance, get in touch with us to book your free review meeting now.

Plus, if you’re a current NZNO member, you’ll receive 5% off your Accuro health cover premiums if you book in with us!