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What health insurance fits you best?

What health insurance fits you best?

There is just over one week left to change your health insurance.

Should you cancel your current policy? And if you do, what alternative is best for you?

Cost is often mentioned as an argument to switch.

Across the board premiums for the Basic Health Insurance package are increasing. It may be wise to check out lower priced alternatives. Beware however: the alternative with the lowest premium will not always the best solution in your particular solution. If you decide to make changes, you have to cancel your existing policy by December 31st at the latest.

Checklist

Here are steps you may take if you consider to change policy or provider:

  • Change the type of policy you have: from a restitution policy to an in-kind (‘natura’) policy or even an budget policy.
  • Change the level of excess: You may opt for voluntary excess (deductible or ‘eigen risico’) on top of your mandatory excess of € 385. Read more about excess and if it is wise to increase voluntary excess.
    Some packages offer coverage for the mandatory excess.
  • Check with your insurance provider if there is a special discount available: Many providers offer discount of up to 10% to members of sport associations, people that are self-employed, entrepreneurs or students (if they need a mandatory health insurance).
  • Opt for a yearly instead of monthly payment: if you have the about € 1.400 it will take available, you’ll save about 2% in premium. This is a return you likely won’t have at your savings account.
  • Check if your employer offers a corporate health insurance. Sometimes  these packages are attractive, but often you will be able to find a better deal in the market.
  • Decide what supplementary insurance you really need.  Check if changing or cancelling supplementary insurance will save you money.
  • Finally, before you change provider, check out the options, premiums and discounts other insurance providers offer for the type of policy and level of excess that you are looking for. It is also wise to find out how their services are rated by their customers.

Here is how to find another health insurance provider.

Read everything about Health Insurance 2019 in our recent Newsletter.

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