Save on health insurance premiums: your potential savings
Health insurance premiums can be expensive. Comparis gives you tips on how to save on health insurance.
05.10.2023
iStock/AndreyPopov
1. How much can I save on health insurance?
Around 0.7 million people could save at least 40% on their health insurance in 2024. According to an analysis by Comparis, the maximum savings potential comes to 3,190.80 francs.
You can save on your premiums by:
Switching to one of the five cheapest health insurers in your region
Increasing your deductible
Changing insurance model at your health insurance company
Potential savings over 10 years
A Comparis comparison shows an adult can save the equivalent of a small car in ten years by changing their health insurance policy.
Imagine you have changed your health insurance and adjusted your model and deductible from the most expensive to the cheapest option available in 2012/2013. By the turn of 2022/2023, you could have saved up to 40,000 francs.
Savings potential is the amount of money an insured person can save on a premiums per year by switching insurers. It’s the difference between the annual premiums of your current insurer and the annual premiums of the cheaper insurer.
Are you new to Switzerland or are you comparing premiums for a newborn? The savings potential in this case lies in the difference between the most expensive and the cheapest premiums.
2. Saving on health insurance premiums with the right insurance model
With alternative insurance models, your premiums can be up to 30% lower. Alternative insurance models include:
Mixed models
Use our health insurance comparison tool to discover which model fits your needs.
3. Saving on health insurance by increasing your deductible
The higher your deductible is, the lower your premiums are. Adults with a maximum deductible of 2,500 francs can save up to 1,540 francs per year. Children up to the age of 18 can save up to 420 francs per year by choosing the maximum deductible (600 francs).
If you have a high deductible, you must contribute more to the cost of your treatment. Instead of paying a maximum of 1,000 francs, you may have to pay 3,200 francs for your deductible and coinsurance in the worst case scenario. Check whether you could afford higher costs in an emergency, such as serious illness.
4. Switch basic insurance
You can take out basic and supplemental insurance with different health insurance companies. The benefits covered by basic insurance are clearly defined and are the same for all health insurers. Switching to a cheaper health insurance provider is therefore a good idea.
5. Take out health insurance without accident cover
Do you work for the same employer at least eight hours a week? If so, you are automatically insured against accidents as defined by the Swiss Accident Insurance Act. This means you can exclude accident insurance from your health insurance. Depending on the health insurer, this can save you up to 10% on your premiums.
You must notify your health insurance provider as soon as you are no longer covered for accidents by your employer. You will then take out accident insurance as defined by the Health Insurance Act again. As a result, your basic insurance premiums will increase.
6. Get family discounts from your health insurer
In basic insurance, you will receive a discount from many providers from the second insured child onwards.
Some supplemental insurance policies offer a family discount from just one child. Here it can be worthwhile to insure parents and children with the same insurance company.
7. Save on supplemental insurance
Do you have supplemental hospital insurance? Flex products may be worthwhile here. With these, you agree to contribute to the upgrade costs for a hospital stay in a semi-private or private ward. This means you pay lower premiums and save several times the annual maximum out-of-pocket expenses for upgrades over the years.
Many insurance companies offer company, association, club or municipal discounts for supplemental health insurance. Check your memberships and compare deals
8. Suspend your health insurance
It’s possible to suspend your health insurance under certain conditions. For example, you may put your basic insurance on hold during military service. Some supplemental insurance products can also be suspended if you go on a round-the-world trip, for example.
9. Apply for an individual premiums reduction (IPR)
In some cases, people on low incomes can benefit from premiums reductions. To be eligible for this, your annual taxable income must be below a certain amount.
The cantons pay the remainder of your reduced premiums directly to your health insurer.
Problems paying health insurance premiums
Can you pay your health insurance premiums comfortably? In Switzerland, 17.8% of people struggle to make their monthly payments. This was shown by a recent survey on health insurance premiums by Comparis. Of the respondents asked, 14.1% repeatedly have difficulty finding the money for their premiums – even before the big premium price increase in 2023.
10. Pay your health insurance premiums annually
Some health insurers offer a discount if you pay your premiums once or twice a year instead of monthly. Check with your health insurance company what discounts they offer for advance payment of health insurance premiums.
You can also cut unnecessary costs in your supplemental insurance. Find out what kind of supplemental insurance makes sense for you.
This article was first published on 07.11.2022
