In the year to March 2015 health insurance claims payments across the industry topped $1,000,000,000 for the first time. The annual dollar value of claims has effectively doubled over the last decade.
Sure, the person with insurance gets a nicer room to stay in, and avoids treatment delays. But every time someone claims on a policy, they take themselves off a waiting list, which means someone else who hasn’t paid for health insurance gets the bed.
Government superannuation is already costing about $12,000,000,000 a year and growing – it was ‘only’ $8,000,000,000 in 2010. Health spending is about $15,000,000,000, and also growing.
Tax breaks for health premiums have been and will continue to be on the agenda for some time. 29% of New Zealanders have health insurance, and what is clear is they, and their claims, are making a significant and increasing contribution to overall funding of healthcare in New Zealand.
Our population is ageing, and superannuation and healthcare are going to become two major topics of debate over the coming decade (watch this space prior to the next election). Without the significant net migration over recent years, our workforce (people who pay tax) would already be shrinking, as the baby boomers retire.
Full details have just been published here:
http://www.healthfunds.org.nz/pdf/March%202015%20stats.pdf
Regan Thomas