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Why young workers matter in 2020.

Southern Cross recently published the following information explaining why it is important to insure employees no matter what their age.

"In New Zealand, those under 30 now make up 40 percent of the workforce. They’re also among the least engaged in the workforce, with higher than average turn-over than other age groups. 

Globally, almost half of young employees say they would quit their current job in the next two years if they had the choice. This can present a problem for employers.

Offering a range of benefits can help provide an edge in an organisation’s recruitment strategy. Working for a business that has a clear focus on workplace wellness can be attractive to this generation which is engaged with their health and wellbeing. Consequently, the value of employer-funded health insurance should not be overlooked.

Do young employees need health insurance?

While younger employees are less likely to get sick, they can still benefit significantly from having health insurance.  For the year ended 30 June 2019, Southern Cross Health Society paid 73 percent of all health insurance claims in New Zealand - $113 million was paid out in claims to those under 30.

For women under 30, the most common claims were:

  • Skin lesion excision ($300 to $2,400)

  • Specialist consultation ($100 to $300)

  • Colonoscopy ($1,800 to $3,100)

  • Nasendoscopy ($100 to $200)

  • Endometriosis surgery ($9,800 to $19,700)

For men under 30, the most common claims were:

  • Nasendoscopy ($100 to $200)

  • Specialist consultation ($100 to $300)

  • Phototherapy ($100)

  • Skin lesion excision ($300 to $2,400)

  • Colonoscopy ($1,800 to $3,100)"

Want to find out how employer-funded health insurance can help you attract and retain young talent?  Get in touch with us today.

Source: Southern Cross, 2020,



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