Advertisement

money For Members

KEY POINTS: How Geneva will help hard-hit households fight inflation

The Local Switzerland
The Local Switzerland - [email protected]
KEY POINTS: How Geneva will help hard-hit households fight inflation
Geneva will be generous toward its residents in 2023. Photo by FABRICE COFFRINI / AFP

The canton, where the cost of living is among the highest in Switzerland, has announced financial help to 'protect the purchasing power of households’.

Advertisement

While the federal government is not planning to offer financial help to people struggling with rising prices, Geneva’s Council of State will provide various subsidies to its residents to help them cope with the increasing cost of living.

“Inflation observed in recent months is causing a drop in disposable income for a large number of households, particularly in the middle class. The Council of State wants the people concerned to benefit from support to protect their purchasing power," authorities said.

Specifically, help will be given in these areas:

Health insurance premiums

In 2023, healthcare premiums are set to go up by 4.2 percent in Geneva — well below the national average of 6.6 percent, but still a burden for many families.

“The government is aware that premiums weigh heavily on household budgets. The increase in 2023 makes this measure all the more relevant," cantonal authorities said.

Therefore, monthly subsidies will be offered to offset the new cost of premiums: 10 to 20 francs for adults, 15 francs for people from 18 to 25 years of age, and 10 francs for children.

In all, 26 million francs, which will benefit more than 137,000 Geneva residents, is earmarked for health subsidies for next year.

READ MORE: Which Swiss cantons will see the biggest increase in health insurance premiums?

Advertisement

Housing allowance

From April 1st, 2023, the maximum amount of the housing allowance will increase from 1,000 to 1,400 francs.

In all, 4,850 Geneva households with the lowest incomes, whose housing allowance is currently capped at 1,000 francs/room/year, will benefit from this assistance,

READ MORE : Why is Geneva’s rent the highest in Switzerland?

Family allowance

From January 1st, 2023, the amount of the ‘childbirth allowance’ — which is allocated when a child is born in Switzerland — will increase from 2,000 to 2,073 francs in Geneva.

The child allowance will be raised from 300 to 311 francs for a child aged up to 16, and from 400 to 415 francs for a child aged 16 to 20.

The training / apprenticeship allowance will increase from 400 to 415 francs.

READ MORE: What welfare benefits can you get if you have children in Switzerland?

Social assistance

"Given the general increase in the cost of living…individual social assistance will increase from 986 to 1006 francs a month”, authorities said.

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also