Across all of New Zealand, consumers face some tough decisions with choices about health insurance companies. Despite the fact, that New Zealand has a semi public health system, many Kiwi’s prefer to supplement the public health system with a private insurance policy. For some consumers, the choice of buying additional cover is fairly easy as many companies offer health insurance as a benefit to employees. For consumers who happen to represent the percentage of medically under insured, the choice of Choosing health insurance is a bit harder. In the following paragraphs, we will discuss the largest obstacle that consumers face when they shop for health insurance.
Shop the market, and then shop the market some more. There are many companies that offer health insurance to the public. Each of those companies has a different set of profit margins. The fact that the Kiwi insurance market is very competitive means that consumers must pay attention to two things:
There is a lesson in value that consumers seem unwilling to grasp. That lesson is that a cheaper product does not always represent the best value. Consider this: You compare a chair from company X for $100 and the same chair from company B priced at $150. The two chairs are identical. If you buy the chair from Company X, you save $50. That is an easy comparison because the two products are identical. The problem occurs when products or services are not identical. This is much the case with Insurance policies. Even though, consumers are comparing one health insurance policy to another, the two policies will offer different deductions, cover limits, and coverage or services. The cheaper policy may not be the best value.
To overcome these differences, consumers must examine their own health requirements. The best value will be a policy that matches the consumers health requirements as well as the consumers financial needs.
The online quote is a powerful tool. This is a tool that consumers and their family can use to thin down their list of health insurance policies, as well as health insurance providers. Consumers can use the online quote to see cost structures of health insurance policies. They can also use the quote to match up policy components. This allows the consumer to apply both the cost of the product and compare that the cost to the list of products that are offered under each policy. In short, a great way to compare apples to apples.
So two tools that that consumers can use when shopping for insurance is to shop the market, and investigate policy options using an online quotes. So why does all of this matter? It matters because the consumer matters. The public health program provides health services on the governments terms, not on the terms of the consumer. This means healthcare and treatment will likely go the cheapest route possible. Private healthcare, on the other hand, may provide access to special procedures, specialty practitioners, and other services not covered by public health.
The benefit is to the consumer because, with health insurance cover, they are now able to determine their own level of health care based on their own evaluation of their own health care needs. In addition to this many people take out cover for employees through business policies.
The health insurance industry is a multimillion dollar industry, yet it serves a vital purpose. That purpose is to afford consumers access to care they deem necessary to promote the consumers quality of life. The tools that we have outlined above are designed to allow consumers to choose a health insurance policy based on their own health care needs and the cost of policies. Remember that as these tools are used that it is always important to think of value rather than just cost. Sometimes cheaper is better, and sometimes cheaper costs more than a higher prices product.