Group Frequently Asked Questions
We're making changes to our health insurance products that are designed to provide greater cover, value and benefits.
To see what's changed in the policy for your organisation, please refer to the Change Summary and the new Policy Document.
The new Product Refresh terms and benefits will come into effect on the renewal date of your group health plan.
There will be no impact to your group premiums at this renewal as a result of the Product Refresh changes.
Premiums in future years will continue to be based on the age, gender, and for some, smoking status. Premiums are also affected by medical inflation which is impacted by the rising cost and number of medical and surgical procedures. As age and medical inflation are both variables that change over time, policy premiums change as well.
Employees/group members will receive renewal confirmation at least 30 days before their policy renews. This includes a Change Summary, Policy Document, Renewal Certificate and Renewal Letter with a link to the Member FAQ’s - www.nib.co.nz/policyupdate.
Employees/group members can contact their group adviser or us on mynib if they are seeking more information.
The new terms and benefits will apply to their cover from the date they join the group.
The new terms and benefits will apply to their cover from the date they join the group.
You are not required to send any communications to employees/group members.
Employees/group members will receive a renewal pack which will include the information, and access to online resources.
The changes are designed to provide greater value for members and make health insurance simpler and easier to understand. This includes changes such as higher benefit limits and expanded cover for many of our members.
Updates to the Policy Document are designed to make it easier to understand what members are covered for, and how to get the most value from their health insurance.
We have not removed any benefits from members policies.
In some cases, benefits may have been changed, moved, renamed or combined. We’ve moved benefits to simplify the cover by having the same types of treatments or procedures grouped together.
We’ve also reviewed and updated some exclusions to ensure greater consistency across the nib products. This may also impact what group members can claim for going forward.
The Change Summary included with the members Renewal Pack outlines the key changes to their policies.