nib campaign offers free cover for kids

nib New Zealand has launched a new campaign - Kids Cover Free - aimed at parents looking for health insurance that covers both them and their children.

Monday, August 2nd 2021, 1:30PM

by Matthew Martin

Rob Hennin.

The offer is open until October 31 and is available through nib's adviser partner network on the nibAPPLY platform and provides free base cover for one child for 12 months with every adult insured under a new policy.

nib NZ chief executive Rob Hennin says the special offer reflects nib’s mission to support the better health of Kiwi families and aims to provide members with greater peace of mind, knowing their child’s health is cared for.

“As a parent, taking care of the health and wellbeing of your children is one of your greatest priorities and biggest concerns.

"We know from our own 2020 State of the Nation Parenting Survey that at least three-quarters of Kiwi parents are more mindful of their family’s physical health because of Covid-19,” Hennin says.

“Investing in private health insurance for your children is one way parents can significantly reduce these sorts of stresses, giving them the peace of mind that their child’s regular check-ups or unexpected healthcare needs are likely to be covered and that they’ll have access to timely and efficient care."

In 2018, research from the BNZ estimated the average cost of raising a child in New Zealand was just under $16,000 annually or around $285,000 up until the age of 18.

nib’s claim statistics also show the number of healthcare claims for children has increased by 5% in the past 12 months, costing more than $10 million.

The most common claims for children in the last 12 months were:

- Specialist services (consultations including seeing a dermatologist about skin issues such as eczema, dermatitis or an ENT specialist due to tonsils or ears issues) – 3,500 claims, totalling $915,000
- Treatment by GP – 1,300 claims, totalling $45,000
- General diagnostic –700 claims, totalling $205,000

Individual claims for children can also be quite large. nib’s three largest claims for members under the age of 21 in the last 12 months were:

- Fusion to treat scoliosis - $90,000
- Jaw surgery - $69,000
- Electrophysiology and ablation to treat racing heart and restore normal heart rate - $58,000

“We know raising a child doesn’t come cheap, even more so if you’re faced with the need to pay for unexpected healthcare costs out of pocket," says Hennin.

Common conditions such as grommets can often set parents back between $2,200-$3,500 and wisdom teeth extraction can cost on average $3,500 - $5,200.

“Making sure your children are insured early means that many of these conditions may be covered, as they have a policy in place before they become pre-existing conditions - which are excluded from most health insurance policies."

The offer which applies to base cover only is applicable for new members who apply for nib’s Easy Health, Ultimate Health or Ultimate Health Max policies through nibAPPLY.

Tags: health insurance nib Rob Hennin