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Legal and regulatory update for the life and health insurance sector

nib's new non-PHARMAC new Plus add-on, and more daily news

nib has announced that members will be able to add the non-PHARMAC new Plus add-on when buying nib Hospital cover. This means members will have access to Medsafe-approved drugs not funded by PHARMAC. The add-on will also cover the cost of administering the drugs.

"Do you know the true cost of non-PHARMAC drugs?

Drugs are expensive. There’s nearly 1,000 of them that get funded by the government in New Zealand, which is great. But the reality is we have the worst access to funded modern drugs out of 20 OECD countries. 

This is because PHARMAC, the government agency who decide what drugs are funded, can only approve a selection of new treatment options each year. That means some effective drugs for some really serious conditions just don’t make the list.

For people with a range of diseases, from bowel cancer to Crohn’s disease, there are effective treatment options available that they can’t access. Because when they’re not subsidised, they can be simply too expensive for some people.

 

Introducing our non-PHARMAC Plus add-on

To ease the burden, we’ve launched our new non-PHARMAC Plus add-on option which you can add when you buy nib Hospital cover.

non-PHARMAC Plus gives you access to many Medsafe-approved drugs not funded by PHARMAC. It also covers the costs of administering the drugs. That makes treatment for cancer and other serious conditions more accessible, in either a private hospital or at home.

Add non-PHARMAC cover from $1.24 per week

Our Hospital plans start from $11.07 (3) weekly and are designed to help cover the big health costs like surgery or cancer treatment, giving you fast access to private healthcare. You can add non-PHARMAC Plus to our Hospital plans from just $1.24 per week (2).

You can choose the level of cover that’s right for you. The cover level is the maximum amount we’ll pay towards your eligible claims each policy year for each member covered."

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