Swiss Health Insurance: 7 Common Money Wasters

Autumn is here once again, and once again the health insurance companies have published their new, higher insurance premiums and begun their advertising campaigns.

For many people, health insurance is just one of those topics they simply do not want to constantly deal with. But even so, taking a moment to read this article can help you save a lot of money.

1. Not changing insurance providers

The premiums charged for the exact same health insurance differ massively from one insurer to another. You can end up paying more than 200 francs per month too much by using the wrong health insurance provider. The most expensive offers are nearly twice as expensive as the cheapest offers.

Tip: Taking a few minutes to compare mandatory health insurance offers and change to the cheapest offer can save you hundreds of francs per year. 

2. Choosing the wrong insurance deductible

Many residents of Switzerland choose the wrong insurance deductible – a mistake that can add more than 100 francs per month to your mandatory health insurance bill.

Important: For adults, the optimal insurance deductible is always either the lowest or the highest possible deductible. All other deductible options do not make mathematical sense.

Tip: On average, the 300-franc deductible is the best choice if your covered healthcare spending for the year is at least 1900 francs. If your combined medical bills are lower than that amount, then you will save money by using the 2500-franc deductible. Depending on the insurance model, the threshold for healthcare expenses above which the 2500-franc deductible is cheaper can also be as low as 1400 francs or as high as 2000 francs. You can find more information in the guide to choosing the right health insurance deductible.

3. Picking the wrong insurance model

Many residents use the expensive standard model of mandatory health insurance, and pay hundreds of francs extra every year because of it.

Tip: Using a cheaper managed care insurance model limits you to using a gatekeeper as a first stop for medical care, in most cases. That means you will have to first visit a family doctor, a pharmacy, or HMO healthcare center, or communicate remotely with a telemedicine center. In exchange for the limitations of the family doctor, HMO, telemedicine, or pharmacy models, you pay much less for the insurance.

4. Keeping unnecessary accident cover

Many residents pay hundreds of francs a year for accident cover from their mandatory health insurance provider even though they already have employer-based accident insurance.

Tip: If you are employed by one Swiss employer at least eight hours per week, then you should already be insured by employer-based accident insurance. In that case, you can exclude accident coverage when you get mandatory health insurance, which lowers the insurance premium. 

5. Forgetting to apply for premium reductions

Many residents who are entitled to health insurance premium reductions miss out simply because they forget to apply. That can be a costly oversight because depending on your income and place of residence, premium reductions can knock up to thousands of francs per year off your mandatory health insurance bill.

Tip: Inquire at the relevant cantonal office for the exact amounts, and the criteria for getting health insurance premium reductions at your address.

6. Not claiming compensation for covered costs

Many people forget to send in medical invoices to their health insurance provider. This can easily happen when you pay up front out of your own pocket, as is often the case at pharmacies, optometrists, and when traveling outside of Switzerland. It is also common for costs that are only covered by supplemental health insurance, such as gym memberships, swimming pool passes, and alternative therapies.  

Tip: Always file an insurance claim immediately as soon as you receive a bill that should be covered by your health insurance. Bills that you forget to claim on can still be sent in to your health insurance provider up to five years from the date on which the treatment occurred.   

7. Not using discounts

Some providers of mandatory health insurance offer discounts when you pay your insurance premiums semi-annually or annually instead of monthly. If you can afford to make a large payment in advance, you can get discounts of up to two percent for paying your premiums for the whole year in advance.

Tip: Ask your health insurance provider whether they offer discounts for semi-annual or annual premium payments. You can also find a good overview of these discounts in the guide to premium discounts for mandatory health insurance.

More on this topic:
Compare mandatory Swiss health insurance offers now
Compare voluntary supplemental health insurance offers
Compare voluntary supplemental hospital insurance offers
How do I find the best health insurance?