Health insurance is a smart move ensuring you have access to the care you need, when you need it. But many Kiwis fall into the trap of over-insuring the small stuff, underestimating the gaps in public healthcare, or choosing policies that don’t actually serve them when it counts. Here are our top four areas to avoid with your health insurance.

• Insuring the small stuff like GP visits and glasses: It might feel reassuring to have everything covered, but insuring minor, predictable expenses like GP visits, prescriptions, or optometry often means you’re just dollar swapping. You’re paying higher premiums for things you could easily budget for. Focus your cover on big-ticket items like surgery, diagnostics, and specialist care.

• Waiting too long to get cover: Many Kiwis delay getting health insurance because they’re young or healthy. But once a condition develops, it may be classed as pre-existing and excluded from future cover. Getting in early locks in access and often means lower premiums over time.

• Choosing the cheapest policy without checking the fine print: Low-cost plans can come with limited benefits, high excesses, or exclusions that leave you exposed when it matters most – like not having cover for non-Pharmac drugs. Always check what’s actually covered, especially for surgery, diagnostics, and specialist access.

• Assuming public healthcare will cover everything: New Zealand’s public system can be great for emergencies, but many health conditions that can be classed as non-urgent procedures but are drastically affecting your quality of life, can involve long wait times or limited access. Health insurance helps you skip the queue and access treatments, scans, or specialists that might not be available publicly.

Don’t wait for the system to decide your future, talk to a financial adviser and take control of your health cover today. Whether you need a plan or a second opinion, make sure your insurance is working for you, not just collecting your premiums.

This information is of a general nature and is not intended as personalised financial advice. RIVAL Wealth is a Financial Advice Provider (FAP) licenced by the Financial Markets Authority to provide financial advice. Our disclosure document is located at rivalwealth.co.nz or a written copy is available on request