Thursday , May 2 2024
Home / SNB & CHF / Swiss fact: health insurance premiums cover only 37percent of Swiss healthcare costs

Swiss fact: health insurance premiums cover only 37percent of Swiss healthcare costs

Summary:
Figures published in 2017 show that only 37% of Swiss healthcare costs were covered by basic compulsory health insurance premiums. © Ognjen Stevanovic | Dreamstime.com - Click to enlarge The remaining cost was covered by the government (20%), accident and social insurance (10%), private complementary health insurance (7%), charity (1%) and out-of-pocket spending by individuals (26%). Compulsory Swiss health insurance requires policy holders to pay 10% of the first CHF 7,000 of costs reimbursed 1. In addition, those with deductibles must cover 100% of their medical costs up to the deductible amount before their insurance kicks in. These payments are included in out-of-pocket spending in the chart above. Overall,

Topics:
Investec considers the following as important: , , , , , , , , ,

This could be interesting, too:

Mark Thornton writes The Great Chocolate Crisis of 2024

Mustafa Ekin Turan writes How EU Law Has Made the Internet Less Free for Everyone Else

Thomas J. DiLorenzo writes Attention mises.org Readers! Treat the Students in Your Life to The Best Week of Their Year

Octavio Bermudez writes Mises in Argentina: Lessons of the Past for Today

Figures published in 2017 show that only 37% of Swiss healthcare costs were covered by basic compulsory health insurance premiums.

Switzerland

© Ognjen Stevanovic | Dreamstime.com - Click to enlarge

The remaining cost was covered by the government (20%), accident and social insurance (10%), private complementary health insurance (7%), charity (1%) and out-of-pocket spending by individuals (26%).

Compulsory Swiss health insurance requires policy holders to pay 10% of the first CHF 7,000 of costs reimbursed 1. In addition, those with deductibles must cover 100% of their medical costs up to the deductible amount before their insurance kicks in. These payments are included in out-of-pocket spending in the chart above.

Overall, households covered 62% of their healthcare costs. Federal (6%), cantonal (22%) and municipal (4%) governments, and companies (6%) covered the rest.

From 1990 to 2014, Swiss health care costs rose by around 150%. This is equivalent to an average compound annual rise of nearly 4%, a rate which outstripped annual compound GDP growth by roughly 2%.

All figures are for 2014.


Tags: ,,,,,,,,
About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *