The pandemic is also affecting health insurance premiums. Due to the economic downturn caused by Corona and additional spending on medical treatments, the expatriates insurance health insurance companies are threatened with a deficit of up to a few million money in 2021. The shortfall can no longer be compensated with reserves alone. As a result, those insured with statutory health insurance will have to be prepared for premium increases from January onwards.
Additional contribution from statutory health insurers increases significantly
The contribution of the statutory health insurance, through which around 90 per cent of that country’s citizens are insured, consists of the general contribution rate and an additional contribution.
Contributions are also increased for private health insurance in 2021. Several statutory health insurance companies have already announced that they will increase their additional contribution accordingly.
More good news for workers is that they do not have to bear the impending increase in the additional premium alone. The employer pays half of the general contribution rate and half of the additional contribution.
The contributions of private health insurance develop in a similar way to that of statutory insurers. Here, too, premium increases are due next year. According to the Insurance Supervision Act, private health insurers are only allowed to adjust their contributions if the expected and calculated insurance benefits differ by more than 10 per cent – for example, due to higher costs due to medical advances and or if the real and calculated death probabilities differ by more than 5 per cent.
Private health insurance will be around 8 per cent more expensive on average. If the threshold is exceeded, the providers have to recalculate the premiums and take into account all other factors that influence the premium – that is, interest rates, medical inflation, price inflation and cancellation trends. And it is precisely the low-interest rates that are now leading to significant increases.
Unemployment can affect everyone – especially in uncertain times such as the Corona crisis, employees are confronted with the thought. Anyone who fears that this scenario could become a reality shortly should take action in good time – possibly by taking out private unemployment insurance.In the event of unemployment, employees receive a maximum of around 60 per cent of their last net income through statutory unemployment insurance. However, this usually does not allow the usual standard of living to be maintained. Because the many costs such as rent, loans or other regular payments are fixed. To close the gap between statutory unemployment benefit and the previous wage or salary, it is sometimes advisable to take out private unemployment insurance – because it protects against the financial consequences of unemployment due to an operational dismissal.