Health Insurance Premiums on the Rise – Here’s What You Need to Know
Over the past year, the health insurance sector has gone through some major changes. One of the biggest shifts has been the sharp increase in private medical claims. Across the industry, claim numbers are up by around 20–36% compared with last year, and the trend isn’t slowing down.
To give some perspective:
One major insurer recently recorded its busiest-ever month for claims, with a dramatic jump in cancer treatment costs.
Another provider reported a significant financial loss last year and is forecasting even larger losses ahead.
Across the board, insurers are facing higher claim costs than ever before.
Because of this, most health insurers are lifting premiums, with some increases reaching up to 40%.
What this means for you
When premiums go up, it’s natural to start questioning whether health insurance is still affordable. But before cancelling a policy, it’s worth looking at smarter ways to manage the cost. Options like adjusting the excess or reviewing the level of cover can help reduce premiums while still keeping valuable protection in place.
Why staying covered matters
Health insurance is no longer just a “bonus” – it plays a key role in protecting you and your family financially. With the public health system under pressure and treatment costs climbing, having cover in place can make all the difference when unexpected medical needs arise.
We’re here to help
At Boost, we have a dedicated Insurance Adviser, Bill Cribb, who can guide you through these changes. If you’re worried about rising costs or wondering whether your policy is still the right fit, Bill is here to help you review your options and make sure you’re getting the best balance of cover and affordability.
Email Bill:bill@boostbrokers.co.nz
Call Bill: 027 858 3111