Health insurance market remains steady

August 4, 2009
MEDIA RELEASE – FOR IMMEDIATE USE

Health insurance market remains steady

The health insurance sector has continued to weather the economic recession well, with the latest quarter showing a small increase in the number of people with health policies, the Health Funds Association of New Zealand (HFANZ) said today.

In the quarter ending June 30, 2009, the health insurance market grew by 700, or 0.1 percent. The total number of people with health insurance now stands at 1.394 million, or 32.3 percent of New Zealanders, up 4500 (0.4 percent) on June 2008.

HFANZ executive director Roger Styles said the figures showed New Zealanders recognised the need for health cover to access expensive elective surgery.

“Health insurance traditionally weathers a recession well. It helps people deal with concerns about the impacts health events can have on a family or individual in uncertain times.”

Mr Styles said the total number of people with health insurance eased slightly in the March quarter – although that was largely anticipated.

“To bounce back into positive territory in the June quarter, albeit by a small margin, is encouraging for the sector.”

ENDS

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