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18 Aug 2022

How to ensure your health cover is appropriate for you

Many people take out health insurance for the peace of mind that comes with knowing that, should they need private health treatment in future, there will be help available to pay for it. But as your needs change, it’s worth spending a bit of time thinking about whether the health cover you have is appropriate for your circumstances. Time to give your health insurance a check-up? Here are a few things to think about.

How does it fit in with your financial life now?

For many people, one of the big factors to think about is how much they can afford. How much you pay in insurance premiums will depend on how wide-ranging your cover is. In many cases, you can reduce the amount you pay in weekly or monthly premiums by increasing the excess you pay on any claims. We can help you work through how this could work for you and what the best strategy is to keep your insurance affordable while also providing adequate protection. 

How might that change in future?

As you get older, you may find that your health insurance premiums increase. But this is also a time when it may be more likely that you’ll need to claim. We can help you understand how your cost of cover may increase over time and what you can do now to help prepare for that.

What cover is right for you?

There are a lot of different options when it comes to health cover. You can get “everyday” policies that are designed to help reduce the cost of going to the GP, surgical policies that pay out when you need to have a procedure in a private health facility, and those that cover everything from the dentist to specialist care. It’s worth thinking about the options available and how they might work with the way you manage your money.

Are you most interested in having cover only for the most expensive health procedures, or would you like to know there’s help available with every aspect along the way? We can help you weigh up the pros and cons of different types of cover.

Would you be able to foot a private healthcare bill yourself?

Some people are happy to “self-insure” and save up some money to pay for the costs of some private healthcare themselves. It’s worth taking the time to understand what this could mean, however. 

Southern Cross reports regularly on the claims it pays, and said in the year to June 2021, four of its most expensive claims were for back surgeries that cost more than $200,000 each. The largest number of claims were for cryotherapy of skin lesions.

What about non-Pharmac treatments?

Are you interested in cover for treatments that are not funded by the Government’s drug buying agency, Pharmac?

Every so often, you hear of someone who is trying to raise money for a treatment that isn’t funded – maybe be a cancer medication that costs thousands of dollars a month. Sometimes, people turn to crowdfunding for help, which can be a tough experience. 

Another option is having health insurance that includes non-Pharmac cover. Many health insurers offer a non-Pharmac option, designed to pay for treatments that are Medsafe-approved but haven’t been publicly funded yet. Like to know more? We can help you understand what is on offer and how it might work if you were to claim.

We’re in your corner

We are here to assist you in understanding what health cover options are available, what might be a good fit for you and whether your current level of protection is appropriate. Give us a call today for a thorough health insurance check-up.



Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

Link Financial Group Ltd trading as Mortgage Link and Insurance Link FSP 696731 holds a licence issued by the Financial Markets Authority to provide financial advice. Insurance Link (NZ) FSP 446867 is authorised by that licence to provide financial advice. Please visit for more information and Disclosure information.