AIA offers bolt-on cancer drug cover
AIA is offering its cancer treatment cover as an add-on benefit to customers of other health insurance providers.
Tuesday, March 28th 2017, 7:47PM 
4 Comments
Its Cancer Treatment Benefit provides non-surgical cover up to $500,000 per year for specialist consultations and tests for the diagnosis of cancer.
Should cancer be diagnosed, it provides access to Pharmac and non-Pharmac treatments and the latest Medsafe-approved cancer immunotherapy medicines.
These drugs can cost hundreds of thousands of dollars per year.
AIA acting chief executive Graeme Edwards said switching health insurers could be difficult if people had pre-existing conditions.
But those who took AIA’s product alongside their existing cover with another provider could be satisfied they were getting more protection.
“Identifying cancer early and having access to the latest generation of immunotherapy medicines could vastly improve someone’s odds of surviving cancer. The Cancer Treatment Benefit ensures immediate access to specialists, diagnostic tools and a full range of medicines without being reliant on public funding of expensive cancer medicines,” he said.
“New Zealanders ought to have access to cancer immunotherapy medicines if they want and need them, and AIA’s bolt-on Cancer Treatment Benefit gives them this choice,” he says. “It offers cover for cancer care from diagnosis and treatment, through to recovery and potential cure.”
Insurers had a growing role to play to help support public health, he said.
“We have one of the best public health systems in the world but people do worry about getting the right diagnosis and treatment for cancer in a timely manner given the lengthy waiting times for treatment,” Edwards said.
"Kiwis already have access to a lesser range of innovative medicines and treatments compared to Australians, and funding constraints means national drug-buying agency Pharmac will struggle to afford the new range of anti-cancer drugs. The insurance industry has an important role to play in providing access to non-Pharmac drugs, such as cancer immunotherapy medicines.”
The cover is underwritten and not available to people with a history of cancer.
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But I do agree that Trauma cover requirement could be much lower limit say $20,000 minimum and not kept at $100,000 as it does increase cost unnecessarily for client.
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It is only available with Trauma Cover of at least $100,000 and does not cover the surgery. I wonder whether the need to wait for surgery in the public system will delay chemotherapy treatments. If you can afford $100,000 trauma cover, better to take good medical cover, so that all treatment costs can be funded privately.