Premiums for basic health insurance are expected to increase by an average of 5% in 2023, according to Comparis forecasts. For the online comparator, this sharp rise in premiums is to be put down to the reduction of reserves, ordered by the policy.
Many health insurers no longer have the necessary reserves to cushion cost fluctuations, Comparis wrote in a press release on Thursday. With these reserves, they could have obtained high returns on the capital markets and covered the deficits of the insurance activities.
“By amending the ordinance last year, the Federal Council increased the pressure on insurers to reduce their reserves, as a sharp rise in costs loomed,” writes Comparis. Many health insurance companies followed suit and set their premiums too low.
The effect of the pandemic
For many policyholders, premiums are expected to increase by more than 10% from their current bill, according to Comparis. But the increase in basic insurance will average 5%. Between 2020 and 2022, costs in the healthcare system have fluctuated greatly. This is partly due to the Covid-19 pandemic and changes in supply and demand, the statement said.
Comparis estimates that these fluctuations will again subside and that the growth in the costs of medical services borne by basic insurance will stabilize in the coming years at around two or three percent.