Choose your deductible correctly
Choose your deductible correctly
Premium, deductible and retention
Calculate the costs you will incur correctly
Every year at the end of September the BAG (Federal Office of Public Health) publishes the new health insurance premiums and now the question arises whether a change is worthwhile: Which insurance model should I choose and which deductible rate makes sense for me?
If you are going to have expensive treatment next year, you should choose the lowest deductible rate for the coming year. If, on the other hand, you feel fit and expect few illnesses, a high deductible is worthwhile. At the same time, it may make sense to switch insurance models to take advantage of further premium discounts ranging from 8 to 20 percent.
Difference of an annual deductible rate in the health insurance company
How it works
When I add the total premium for my health insurance and the annual deductible I choose, I get the total cost I spend before I receive a health insurance benefit.
Example: Man 30, resident in Zurich insured with Helsana
- With an annual deductible of CHF 300 and free choice of doctor, I receive a monthly premium of CHF 484.70. That gives in the year 12 x 487.70 plus 300.- an amount of CHF 6’152.40.
- With an annual deductible of CHF 2,500 and free choice of doctor, I receive a monthly premium of CHF 365.40. That gives in the year 12 x 365.40 plus 2500.- an amount of CHF 6’884.80.
- So the difference is CHF 732.40 in maximum costs. I compare this to the monthly premium difference of CHF 119.30 x 12, which is an amount over CHF 1,431.60.
Conclusion: In this case I pay a premium of CHF 1’431.60 to insure an amount over CHF 732.40. That’s when I think everyone notices that this is way too expensive.
Tip 1
Calculate your average annual cost to date and include this amount in the calculations. You’ll see that a high franchise often pays off.
Tip 2
Set aside the premium you save each month and should you need a medical bill or medication, you already have the money needed to pay for it. After a certain time you will accumulate a considerable capital here.
Tip 3
Note that supplemental insurance plans provide benefits that have no deductible or only a smaller amount of deductible. This means that in many cases you can also receive treatments and services without a deductible.
If I then compare the insurance model and can choose a telemedicine or family doctor model, the savings potential will increase considerably once again. CHF 1,000 per year in lower premiums is not uncommon.
