Kiwis: ‘Cheaper Health Insurance Please!’

After a year during which Covid roiled the world, Kiwis say value for money remains their top priority when it comes to health insurance. The insight, revealed in a Canstar survey to find NZ’s favourite health insurer, shows how policy cost remains a major tension for customers seeking cover.

The survey showed AA Health Insurance is the winner of this year’s Canstar Most Satisfied Customers Award. AA, winning the health insurance award for the first time, scooped 5-stars for its cost and value-for-money proposition, alongside other key drivers of satisfaction, such as customer service, communication, and comprehensiveness of cover.

Jose George, Canstar NZ General Manager, said the past year has meant healthcare is now, more than ever, front of mind for many Kiwis. “Health concerns are paramount at present, and New Zealanders are understandably concerned about cover and if they can afford it. AA’s sweep of 5-star ratings in key satisfaction drivers such as cost and value shows they are meeting these customer needs. AA is clearly ahead of the market in this regard, and they should be very proud of this award.”

Mark Savage, General Manager of Channel Strategy and Delivery, AA Health Insurance, said AA was delighted to receive the recognition from customers. “In what can only be described as a challenging year, it’s great to see our customer-centric strategy resonating so positively.”

Mr Savage added: “Building trust and offering the right support for our customers is our top priority and receiving this award is the cherry on the top.”

Health insurers’ response to COVID was also noted by customers in the survey. AA Insurance, for example, offered eligible customers a COVID-19 support package, which included the option to suspend their health insurance policy and premium payments for up to six months.

Such moves may have contributed to the rise in Kiwis who are comfortable with the overall cost of healthcare, from 45% last year to 52% now.

However, a quarter of Kiwis say they can only afford a surgery and specialist policy, as broader cover is too expensive. Further, the ‘peace of mind’ felt by Kiwis who hold insurance has dropped, suggesting continued fears as the pandemic continues to ravage the world.

The survey also revealed that the average monthly spending on health insurance was just under $200 per individual. In Auckland, the cost rises to $213, while those aged over 70 are spending a hefty $362 on average each month.

For further details please visit the Canstar NZ site, here.

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