Things to consider when buying health insurance

If you've decided, you can afford health insurance there are a few things you need to think about when choosing a provider:

• The reputation of the insurer. Is it trusted and respected? If you have not heard of the insurer ask a financial adviser about the insurer and their reputation.
• Its range of plans. Does it have what you need?
• Its financial stability. Will it be there when you need it?
• Its customer service especially claims service.
• Sustainability of the insurer. Remember if the deal looks too good to be true it probably is.

There is no one best health insurance policy, but the best one for you will depend on the type of health insurance you need and your budget so shop around and remember it’s about YOU and not your neighbours or friend’s experience.

Choosing the right plan and how much cover depends on your stage in life and general state of health. You need to think about whether you want cover for major medical costs, like surgery and hospital treatment, or also want to claim for day-to-day things like visiting your doctor and dentist.

But here are things to consider when looking around:

1. Your Pre-existing conditions and how the health insurer will deal with them
2. What can you afford – ie size of premium vs size of the excess and this is not only today, but what about in 10 years’ time when you may really need the cover?
3. The level of Cancer Cover: Surgical and Medical Cancer Treatment
4. Non-PHARMAC Drugs covered or not
5. Guaranteed benefits and future upgrades
6. Are you eligible for any “special deals” via your Union or other organisations that you or your partner is a member of?

These questions will help you to work out what kind of health insurances are most important to you when you’d be badly affected by a loss – even one that is not very likely to happen.

In addition to doing that, we have compiled a handy checklist and glossary of terms that can be found in our Health Insurance Guide that will help you make better decisions and have better conversations about Insurance.

Finally, If it is challenging for you to work out the best option for you and your family and you’d prefer to work with a financial adviser, we have access to a nationwide team of Monument financial advisers who can provide you with personalised advice on Health Insurance. Monument has been our appointed business partner since the early 1990’s to provide financial advice to our members on life and health insurance products (HealthCarePlus is not legally able to provide financial advice).

They are the experts and can talk specifically about your individual health needs and can give you an honest view as to whether Health Insurance is right for you. Plus they have access to all the main New Zealand Health Insurance Providers so can explain which of their many health plans are best suited to your needs.

So to speak directly to your local Monument adviser, please click the button below to book a free, no obligation chat with them.

If you are not ready to talk to an adviser and want to find out how much it would cost you for the medical cover, then you can get a quote for Hospital Select below. Please note this plan is only available to eligible union members within the education and public services sectors, and is underwritten by UniMed - our health insurance partner.