Health insurance premiums are going up, even for next year. But there is a simple way of saving money that not many people take advantage of: splitting. Advantages and disadvantages at a glance.
Although there isn't expected to be a premium shock due to the coronavirus crisis, the insured can expect a rise of some 3% according to the internet comparison site comparis.ch. The additional costs for the (at least) two million employees who were affected by short-term work or lost their jobs because of the lockdown will be particularly painful, as they have to manage with a reduction of up to 30% in household budgets. (Source: comparis.ch) But if you act now, you still stand to make savings next year despite rising premiums. The simplest way is by splitting, i.e. carefully separating basic and supplementary insurance.
The benefits offered under basic health insurance are clearly defined in the Health Insurance Act (KVG) and are the same for all health insurers. Yet premiums can vary significantly between the various providers. This is why it is worthwhile comparing premiums regularly and switching to the fund with the best-value rates. By switching to a different basic insurance, an individual can save up to CHF 500 a year, while a family can save as much as CHF 2,000. The situation is different for supplementary insurance where the premiums are often unchanged over a long period, and when they do change, this is normally minimal in financial terms. In short: if you have found a supplementary insurance deal that meets your individual needs, you can retain this insurance in the long term.
Even though splitting is an easy way of reducing your healthcare costs, most insured persons do not take advantage of this method. Many worry that it will create more paperwork if they have their health insurance with various providers. This is actually the major disadvantage with splitting,
but AXA offers you an easy solution for this: As part of the exclusive service package for our supplementary health insurance, we do this work for you. Each year, we’ll find the best basic insurer for you and will also take care of all the paperwork – from terminating your current insurance to registering you with your new insurer. This saves you both time and money.