Don't get caught out
With the New Zealand taxpayer’s limited budget, unfortunately, our funding body Pharmac cannot cover all the life-saving medicines available. But, we have good news, there are affordable insurance solutions available, via specific add-on’s or medical policies that cover non-Pharmac drugs and treatments.
Not all medical policies are made equal. In our opinion, it is critical that your medical policy provides non-Pharmac coverage. Most policies do not provide this cover, and some provide inadequate levels of cover. We are passionate about checking this detail for you. Through our constant research, we are well-placed to advise on the best providers and policies and understand how they work at claim time.
We have many discussions with clients about what to insure and what to self-insure based on their budget. Some things to consider:
Are you paying for specialists and tests - which is a smaller financial risk to you - but don't have any cover in your policy for non-Pharmac medications that can cost hundreds of thousands per year?
Or is your premium best put toward cover for access to private specialists & tests that could range from $250 to $3,000, or insuring for a life-saving drug that may cost over $200,000 per year?
Many Doctors across the country are reaching out to get this cover sorted, showing us the ever-growing need.
Not sure if your cover includes non-Pharmac medicines? Get in touch with our friendly team today:
nib 2021
Source - Pharmac saving money
Further reading - 18 medicines funded in Australia and not in New Zealand
