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Swiss health insurers 'won't hike insurance premiums' despite coronavirus

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The Local - [email protected]
Swiss health insurers 'won't hike insurance premiums' despite coronavirus
Photo: FABRICE COFFRINI / AFP

Despite the large costs incurred by the healthcare system due to the coronavirus, there will be no increases to insurance premiums.

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Verena Nold, director of the Santésuisse health insurance association, said on Thursday morning that despite the unforeseeable nature of the pandemic, Swiss health insurers were well prepared. 

READ: Switzerland extends coronavirus lockdown measures until April 26th

As a result, there will be no increases to premiums - either in 2020 or 2021. 

Nold said that tariffs did not need to be increased as health insurers had accumulated enough reserves to see them through the crisis. 

“There are no fears (of increased costs) for the 2021 premium round,” Nold said. 

“We are convinced that (the large reserves) will make it possible to overcome the coronavirus crisis.”

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Health insurance companies have built up reserves of approximately CHF9 billion, according to reporting by Swiss media outlet Watson

Nold also acknowledged that the premiums for 2021 are calculated on the basis of expected costs in that year, rather than the costs incurred in 2020. 

 

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