Medical Insurance Update – What’s Changing in NZ
Wed Apr 22 2026
Medical Insurance Update – What’s Changing in NZ
Health insurance continues to be a key area of focus in New Zealand, with rising costs and increasing demand shaping the market.
Premiums have increased across most insurers over the past 12–18 months, largely driven by higher claim volumes, increased use of private healthcare, and rising medical costs. In some cases, clients have seen premium increases of 15–30% or more, reflecting how heavily policies are now being used.
At the same time, healthcare costs in New Zealand are projected to rise by around 18% in 2026, well above global averages. This is being driven by factors such as an ageing population, more chronic health conditions, and greater access to advanced (and expensive) treatments.
The positive side of this is that policies are being used more than ever. For example, one major insurer paid out over $1.7 billion in claims in a single year, returning around 94% of premiums back to members. This highlights the real value many clients are receiving when they need treatment quickly.
What this means in practice is that reviewing your cover has never been more important. There may be opportunities to adjust excess levels, refine benefits, or ensure your policy still aligns with your needs — without compromising long-term protection.
If you'd like to discuss anything mentioned in this newsletter - or would simply like advice on:
- Personal Insurance
- Business Insurance
- KiwiSaver
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