Why do insurers have limits?Most surgical limits offered by New Zealand health insurance companies are very high. This so that any surgical procedures, or other costs you may have are easily covered. Insurers will set their limits high enough so that you can have confidence in your ability to claim if you needed to.
Some insurers will vary in their maximum claim limit for health cover, an example of the variations in costs might be the surgical limit insurers offer on their health insurance plan. One insurer may offer cover up to $300,000, while another may offer only $100,000.
Why have a higher claim limit?Firstly, medical treatment costs can change rapidly and without a whole lot of warning. A health insurance policy with a high limit is important to be able to cover the rising medical costs year on year. Some insurers regularly review costs and increase limits when needed. This may be the case, however it's safer to choose a policy with an already high limit, rather than trusting that the insurer will increase their limits to match the actual rising cost of health care.
Secondly, some health insurance procedures come with a hefty price tag. If you require treatment that involves expensive medication not funded by PHARMAC, the costs can be very high relative to the usual costs of surgery and medication.
For your peace of mind, it is important to consider limits and match them against possible worst case scenarios (this is why you have private health insurance after all).
If you'd like to know more, or want to compare claim limits with New Zealand's leading insurers, start a quote and compare policies online with LifeDirect. If you'd like to talk to someone, you can give us a call on 0800 800 400 and have a chat.