A scheme that operates much like a KiwiSaver is offering consumers an alternative to health insurance.
Hawke's Bay-based Fettle is offering members access to private healthcare funded through regular contributions to a personalised fund, which could be withdrawn to support private healthcare expenses as required.
"The beauty with Fettle is that you can contribute as much or as little as you can afford towards your dedicated healthcare fund," founder Dr Colin Hutchison said.
"And if you're fortunate enough not to need to call on that for any health procedures, your fund can be set aside for any dependents' future healthcare needs, adding an intergenerational benefit and component to the scheme as well."
A member's fund could also be paid out to their estate, he said.
Fettle partnered with investment firm Stewart Group Asset Management to manage contributions to the fund.
Funds available to support private healthcare were capped by a member's total fund balance.
Fettle also offered members a personal healthcare plan and assistance in accessing private healthcare services.
Hutchinson said Fettle had no health exclusion barriers, while members could reduce contributions as personal circumstances required, as opposed to the commitment of annual insurance premiums.
Hutchison said the fund would appeal to young families as well as people in the plus-50 demographic, who may no longer qualify or have access to affordable private health insurance.
"Changing your quality of life by timely access to private healthcare can be achieved with modest investments," he said.
RNZ
