A family sitting on their couch, hugging and laughing
A family sitting on their couch, hugging and laughing

Policy renewal


Policy renewal is an important moment each year and the best time to review details of your policy. On this page you will find information about:



Renewal is a great time to check your plan

Your policy renews each year on your policy anniversary date (also known as a renewal date which is specified in the Member Certificate) and your premium usually changes at this time. Your policy renewal date will be the anniversary of the start date of your policy, but if your policy is provided through a work scheme or association scheme this will be the anniversary of the commencement date of the scheme.

Before your policy renews, you’ll get a renewal pack with important information about your policy renewal, such as:

  • Your claims summary for the last year
  • Who’s covered by the policy
  • Policy premiums you’ll pay for the coming year (this will show $0 if someone else pays your premiums)

If you’re registered for My Southern Cross, we'll let you know when your renewal pack can be viewed online in My Southern Cross or via the app.

Log into My Southern Cross

Use Manage My Cover to explore your options

Manage My Cover is an online tool in the website version of MySouthernCross for KiwiCare, RegularCare, Wellbeing and UltraCare plans.

Using Manage My Cover you can:

  • View your current health insurance plan.
  • Compare your existing plan to other Southern Cross plans.
  • See how cover and premiums change with different excesses, adding and removing modules and changing plans.
  • Get personalised quotes which can be saved for up to 14 days.
Manage my cover

If Manage My Cover is not available when you log into MySouthernCross, then contact us with your details on this form. A member of our team will get back to you.

Value of health insurance

Our members tell us that the things they most value about their health insurance is the peace of mind that they, and their families can get access to private treatment when they need it most1. Having private health insurance with Southern Cross will complement the public services you are already entitled to, there is more information here. 

In 2022 we also introduced new annual member benefits, including unlimited free CareHQ online GP appointments, one MedPro annual health check and up to three Raise mental wellbeing counselling sessions every policy year. These benefits are subject to change. Terms and conditions apply. More information can be found here.

Southern Cross is a Friendly Society that paid 882cents in claims for eligible healthcare services for every dollar of premiums paid by members. Over 72% of the value of all health insurance claims paid in NZ in 2021 were paid by Southern Cross Health Society3, more than any other NZ health insurer.

You can find out more about New Zealand’s most trusted health insurance provider4 chosen by over 940,000 people here.

Why premiums change

We believe it is important to provide some background about why premiums change each year. Many factors affect Southern Cross Health Insurance premiums, including:


Age

The cost of cover increases each year as you get older. This is because as people get older their healthcare needs generally increase, meaning they are more likely to make larger claims under their policy. This increased risk is reflected in the premiums for our plans.

Increasing cost of healthcare services

Over time increases are driven by the rising costs of healthcare products and services as well as the advances in medical technology. The Society contracts with healthcare providers through our Affiliated Provider program, and we aim to minimise the impact of rising healthcare costs on members’ premiums, so they can continue to access private healthcare.

Claims growth

Advances in medical science, new treatments and greater awareness of these treatments and what insurance can cover leads to more frequent claims by members.

Regulatory changes

The amount of money (capital reserve funds) that Southern Cross needs to hold in reserve for potential claims has substantially increased. As a friendly society without shareholders, we will have to build up more capital reserve funds through premiums to meet these regulatory requirements set by the Reserve Bank of New Zealand.

For members in a work scheme or association scheme these arrangements can also influence premiums.

Ways to manage premiums

  • Check for ways to save on your premium here.
  • Consider which plan best meets your needs. Our range of plans are available here.
  • Review any optional modules you may currently have.
  • Review who is covered by your policy.
  • Adding or increasing an excess is a way to reduce premiums for Wellbeing, KiwiCare and RegularCare plans. This is not available for members in a work scheme or association scheme whose plans are fully subsidised.

An excess can reduce premiums

Having an excess is one way to manage affordability if you are on Wellbeing One, WellbeingTwo, KiwiCare or RegularCare plans. This is not available for members in a work scheme or association scheme whose plans are fully subsidised.

An excess is the amount you will need to pay for eligible healthcare services before we reimburse you or pay your health services provider for the eligible healthcare service you have received. You will be responsible for paying the excess amount directly to your health services provider.

- Information about excess options, which benefits they are apply to and how they are applied on Wellbeing One and Wellbeing Two plans can be found here.

- Information about excess options, which benefits they apply to and how they are applied on KiwiCare and RegularCare plans can be found here.

Manage My Cover in MySouthernCross can help you explore excess options on your plan.

FAQs

  • Do I need to do anything for my policy to renew?

    • You should read your renewal pack to check your policy and details.
    • Your policy will renew automatically unless we hear from you.
    • If you pay manually, you need to make sure that your premiums are paid on time for your policy to continue.

  • Why do premiums increase?

    Premium increases are driven by several factors, including growth in the number of claims each year, the increasing cost of healthcare services, the higher risk as you age that you will make larger claims under your policy, and other factors such as regulatory changes.

  • Why do premiums increase at renewal due to age?

    As people get older their healthcare needs generally increase, meaning they are more likely to make larger claims under their policy. This increased risk is reflected in the premiums for our plans.

  • Why have I lost my low claims discount?

    The low claims discount is for members who have very low claims. More information about eligibility and how the low claims discount works can be found here.

Contact us about your policy renewal

If you need some more help to understand your renewal or options to manage premiums then contact us with your details on this form.

A member of our team will get back to you.

1 SC Indispensability Survey Mar 2023, n=1,114

2 In the year 1 July 2022 to 30 June 2023 over 88 cents of every dollar paid in premiums, was returned to members in claims.

3 Based on data provided by The Financial Services Council.

4 Reader's Digest Most Trusted Health Insurance Brand, 2017-2023.