Previously EBS Health Care


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.

HealthCarePlus is a not-for-profit incorporated society. This means that HealthCarePlus is owned by 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.

HealthCarePlus has a B++ Financial Strength Rating.

Financial Strength:  Education Benevolent Society Incorporated trading as HealthCarePlus has a B++ (Good) financial strength rating from A.M.Best Company Inc. of New Jersey, United States of America.  A.M.Best is an approved insurance rating agency in terms of the Insurance (Prudential Supervision) Act 2010.


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

HealthCarePlus received the 2nd highest rating in a Canstar Blue survey of health insurance customers across New Zealand on how they rate their providers.  Published by Insurance Business NZ, 06/04/18.  Click here to view the rating table.


HealthCarePlus privacy statement, click here


Solvency Margin

Like all licensed insurance companies in New Zealand, The Education Benevolent Society Incorporated's 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 The Education Benevolent Society Incorporated's Solvency Margin?

The Solvency Margin of The Education Benevolent Society Incorporated as at 30th June 2018 is as follows:

Actual Solvency Capital:
Minimum Solvency Capital: as per RBNZ requirements
Solvency Margin:
Solvency Ratio:



'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 The Education Benevolent Society Incorporated will be there when you need us the most – at claim time.


Annual Reports

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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