Southern Cross Health Society
Number one in health insurance
Southern Cross Health Society is New Zealand's leading health insurer. Today more than 843,000 New Zealanders are protected by our policies.
In the year ending 30 June 2009, we paid for more than half a billion dollars in healthcare services for New Zealanders, funding 150,000 elective surgical procedures in the process, and paying more claims than any other health insurer.
Not-for-profit competitive advantage
Southern Cross is a not-for-profit organisation, run entirely for the benefit of our members (policyholders). Any surpluses are reinvested to ensure the affordability of future premiums and to develop product and services for our members.
We have no shareholders or overseas owners, which gives us a competitive advantage and point of difference in the market.
Range of plans
Southern Cross Health Society has a range of plans to suit different life stages and budgets. From major medical cover to comprehensive plans, members choose a level that suits their needs.
Highest claims-to-premium ratio
Southern Cross Health Society pays out more claims than any other health insurer, which proves that we are delivering exceptional service and value to our members. On average, for every $1 we’ve received in premiums, we’ve paid 88 cents back in claims over the last five years (ended 30 June 2009).
In tune with the healthcare environment
We regularly review our health insurance plans to ensure benefits are relevant to the healthcare needs of New Zealanders. Needs change over time, so our plans evolve as necessary. For example, a private radiotherapy benefit (also known as radiation therapy) was recently introduced to applicable Southern Cross Health Society policies to address a growing need.
Financially strong
We are in a strong financial position, with an A+ (Strong) financial strength rating given by Standard & Poor’s (Australia) Pty Limited on 21 February 2010. This rating indicates an organisation’s ability to pay out claims.
The rating scale is:
| AAA (Extremely Strong) |
BBB (Good) |
CCC (Very Weak) |
| AA (Very Strong) |
BB (Marginal) |
CC (Extremely Weak) |
| A (Strong) |
B (Weak) |
R (Regulatory Action) |
Plus (+) or minus (–) signs following ratings from ‘AA’ to ‘CCC’ show relative standing within the major categories. Full details of the rating scale are available for inspection at our offices. Standard & Poor’s (Australia) Pty Limited is an approved agency under the Insurance Companies (Ratings and Inspections) Act 1994.
Affiliated Provider network
Southern Cross is the only health insurer in New Zealand with an Affiliated Provider network. The 250+ medical professionals and health facilities within this extensive network provide Southern Cross members with services at agreed prices.
Our Affiliated Providers also make life easier for members by organising prior approval and submitting invoices directly to Southern Cross.
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