Thursday, 26.10.17 , written by Annabell Meyer After a veritable contribution shock at the beginning of 2017, many insured persons could at the turn of the year again face higher costs for private health insurance (PKV). Therefore, if you consider a change, the new provider should pay particular attention to financial stability. A new test shows which insurers can make long-term stable contributions. >
Pay attention to stable contributions in private health insurance
- In the coming year millions of insured persons could threaten premium increases in private health insurance.
- If private health insurance becomes more expensive, privately insured persons can change the tariff or the same provider.
- In both cases, insured persons should seek comprehensive advice in advance on their options.
At the beginning of the year, numerous private health insurance providers increased their contributions by up to eleven percent. The reasons for this were the low interest rates, which make it difficult for them to generate returns for retirement provisions. Therefore, the customers have to contribute more money to build up a sufficient cushion.
As the low-interest-rate phase continues, some insured persons will probably have to reckon with rising contributions to private health insurance in the coming year as well. Many people are likely to take this opportunity to look for a new provider, where they pay less. A new test by the German Financial Services Institute (DFSI) gives interested parties an overview of which companies currently score with financial stability.
Before the change check the financial stability of the new private health insurance provider
In order to protect against further adjustment of contributions, it is advisable for people willing to change to find an insurer that can guarantee long-term stable contributions . In the current DFSI test, special attention was therefore paid to the so-called substance power of various private health insurers. This gives indications of the extent to which the company can keep its contributions stable, partly because of its generated returns.
Overall, the private health insurance test 34 providers were tested. No company scores an excellent rating for its substance. After all, 13 providers achieve a very good result. The best grade (1.2) is awarded to Alliance and Signal Iduna. They offer interested parties according to the comparison the greatest stability.
Service: Although private patients with a change may save a lot of money. However, you should keep in mind that their accumulated retirement provisions will be partially or completely lost. Therefore, it is important to consider together with an expert whether the change is worthwhile in the long term.
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Allianz convinces in the PKV test with the best overall package
Since the general company quality of the providers was examined in the test , the sub-areas of product quality and service of the companies were among the examined criteria in addition to the substance power. Among other things, it examined how many complaints were submitted to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht) about the insurer and which health service the company provides, such as pension benefits and bonus programs. In terms of product quality, Allianz, AXA and R + V achieve an excellent rating and Allianz, DKV, Barmenia and HanseMerkur receive the best rating in terms of service.
From the three sub-areas, the DFSI has finally determined a total result, in which the strength of substance and the product quality each accounted for 40 percent, the service to 20 percent. The best result is achieved by the alliance, which is the only company to receive an excellent rating. Another six private health insurers have a very good overall result for their corporate quality:
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