Lower Health Insurance Premium + Tax Savings = Relief

It is a known fact that Switzerland has one of the best healthcare systems all across Europe. The quality of this care is beyond excellent. Patients can expect extraordinary care, world-renowned physicians, and modern facilities. According to the Swiss Federal Health Insurance Act, It is mandatory for anyone working or living in Switzerland to purchase at least a public healthcare insurance that covers all the essential medical treatments. However, like several beautiful things in this country, it doesn’t come cheap.

Healthcare in Switzerland can be costly. But worry not, we have got you covered! With this detailed guide on health insurance comparison in Switzerland [Available in German], you will have no problem comprehending how health insurance in Switzerland works. This guide will help you learn all about Tax savings and how to lower your health insurance premium. So if you find Healthcare insurance in Switzerland confusing or complicated, give this article a good read.

What Is Premium And How Does It Work?

Premium is the monthly contribution that you have to submit. Premium generally depends on the franchise. The lower your franchise, the higher will be your monthly premiums. However, these may vary each year. 

In Switzerland, each citizen must pay health insurance premiums following the per-capita premium system. The premiums are not set to consider an individual’s income. Still, it may vary depending on a residence, health insurer, or age, so you can choose the health insurance company that enables you to take out basic insurance.

How Can You Lower Your Health Insurance Premium?

There is a significant advantage in starting your search early. If you fail to make a choice and commence your enrollment within three months of your arrival, the government may choose on your behalf. This may result in you having more expensive premiums than you can afford or missing out on essential services. However, there are a few ways to lower your health insurance.

You can save on premiums if you opt for a deductible for your basic insurance higher than the perpetual minimum deductible of CHF 300 and CHF 2,500 on an adult policy. Deductibles for children may range from zero to CHF 600. The deductible is an amount you are supposed to before your insurance payments kick in. Some companies also provide attractive discounts if all your family members are essential under the same contract.

You may also be insured against occupational and non-occupational accidents if employed under the same employer for at least eight hours a week. This implies excluding accidents under mandatory basic insurance, which reduces your basic insurance premium by about 7%.

If you choose to pay your full-year premium upfront in advance instead of monthly, most companies will generally give you a discount for this of typically 2%

There are several models, which may differ by provider. Some of them may offer discounts which will entail you going to your family doctor consistently or a multidisciplinary group of doctors under the same roof. Others may require you to start with health advice through telephone or buy medication in certain pharmacies. This is also known as Health Maintenance Organisation (HMO) as a first step instead of enabling you to go directly to a specialist.

Tax savings 

Premiums for health insurance may be expensive, and firms can raise their pricing by a small amount each year. Some medical costs may be tax-deductible depending on where you reside. Up to a specific amount, insurance premiums may be deducted. Medical expenses that surpass 10% of your income are tax-deductible across the country. Request a tax certification from your insurance provider to ensure you may claim your payments and costs.

Do you need private health insurance in Switzerland?

Although standard Swiss health insurance is quite prominent, it does not cover all the medical treatments and is only helpful for state healthcare services. Basic insurance covers between 80–90% of medical expenses (excluding the first CHF 300 of treatment costs every year and a daily fee for hospitalization). However, it doesn’t incorporate private healthcare provision, dental care, or any outpatient medical services. Private coverage enables you to access a broader range of advantages that incorporates extra comforts and a free choice of doctor.

How can you choose a private health insurance provider?

You should look around for quotes from different companies and consider who offers the ideal supplementary deals for you. Insurance brokers can enable you to compare different health insurance packages and choose the best fit for your unique situation.

What Are Health Insurance Claims And Reimbursements?

You are generally expected to pay fees upfront and then claim //reimbursements by most health insurance firms in Switzerland. You are supposed to submit a claim form along with any necessary invoices or receipts. 

We hope that this guide on health insurance comparison in Switzerland made comprehension of health insurance in Switzerland easier for you. We recommend you carefully go through this article so that you can make the ideal choice. Be sure to consider all the available options so that you can navigate your way through the best health insurance package.