Who is HealthCarePlus?


HealthCarePlus is the trading name for The Education Benevolent Society Incorporated (“EBS”).  EBS was started in 1963 to enable teachers, education sector members, and their families to access competitive insurance products to support their families’ health and provide financial protection for unforeseen events.

In 2018 the Board of EBS conducted a fundamental review of the business and decided to enter a strategic partnership with UniMed whereby UniMed underwrites all HealthCarePlus health insurance products, and EBS focusses on providing members with a range of competitively priced health insurance products underwritten by UniMed.


HealthCarePlus is the first accredited Living Wage Employer in the insurance sector. Click here to view the Media Release.




Who is UniMed?


UniMed is the trading name for Union Medical Benefit Society Limited established in 1979 and provides a comprehensive range of health insurance plans.  Like HealthCarePlus, UniMed was established by Unions to provide its members with health insurance benefits.  UniMed is a New Zealand licensed insurer.


UniMed is a not-for-profit incorporated society.  This means UniMed is owned by you, its members and any profits (called surpluses) are applied for the benefit of those members.  Unlike a company, there are no dividends paid to shareholders.



Financial Strength

UniMed has been given an A (Excellent) insurer financial rating by AM Best.  Click here to see more


UniMed Privacy Statement

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Solvency Margin

Like all licensed insurance companies in New Zealand, Union Medical Benefits Society Ltd (UniMed) is required to meet the Solvency Standard set by the Reserve Bank of New Zealand.

What is a Solvency Standard?

A Solvency Standard sets out the minimum amount of capital an insurance company is required to hold in order to meet its long-term projected liabilities under adverse conditions. These liabilities include insurance claims that the company is expected to pay to its customers in the future.

What is the Solvency Margin?

The Solvency Margin is the amount of capital an insurance company holds that is above the minimum level of capital it is required to hold under the Solvency Standard.

What is Union Medical Benefits Society Ltd's (UniMed) Solvency Margin?  

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'Actual Solvency Capital' is the actual capital held for solvency purposes.

'Minimum Solvency Capital' is the capital required to be held by the Reserve Bank of New Zealand for solvency purposes.

The difference between the Actual Solvency Capital and Minimum Solvency Capital is the Solvency Margin.

'Solvency Ratio' is the Actual Solvency Capital divided by the Minimum Solvency Capital, expressed as a percentage.

What does a Solvency Margin mean to me as a customer?

The higher the Solvency Margin, the better equipped an insurance company is to keep meeting its on-going obligations. With its Solvency Margin you can be confident that Union Medical Benefits Society Ltd (UniMed) will be there when you need them the most – at claim time.


The Education Benevolent Society Incorporated (EBS) Annual Reports

View our 2019 Annual Report

View our 2018 Annual Report

View our 2017 Annual Report

View our 2016 Annual Report

View our 2015 Annual Report

View our 2014 Annual Report

View our 2013 Annual Report






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