The average premium charged for mandatory health insurance only went up by 1.7 percent over the past four years, according to the Swiss Federal Office of Public Health. But in 2023, residents of Switzerland will have to count on spending 6.6 percent more, on average, for compulsory health insurance.
But the potential savings which can be achieved by migrating to the cheapest health insurance company and the most affordable insurance model are just as relevant. “According to our study, the savings potential presented by changing insurers and insurance models is larger for this coming year than it was in previous years,” says moneyland.ch analyst Felix Oeschger.
Changing insurance companies and models can save money
As in previous years, Switzerland’s independent online comparison service moneyland.ch calculated the savings potential for mandatory health insurance for 2023 as well. More than 270,000 pieces of data about the number of insured residents by insurance company, insurance model, deductible, premium district, and age group.
The results: “If every resident were to move to the cheapest health insurance company, they could collectively save a total of 3.7 billion francs in 2023, without even changing to the cheapest insurance model,” says moneyland.ch CEO Benjamin Manz. That is a cost saving of 428 francs per person over the coming year.
The moneyland.ch study also calculates the savings potential of migrating to the cheapest managed care insurance models. If residents of Switzerland would use the cheapest insurance model from the most affordable insurance provider, they could save an average of 674 francs per person in 2023. Estimated across the entire population, that converts into 5.9 billion francs of potential savings.
But in practice, much fewer than 10 percent of residents will change their mandatory health insurance provider in 2023. So the savings potential estimates are purely hypothetical. “Still, our analysis makes it clear that many residents could save large amounts of money by using a different insurance company and model,” says Manz.
Young adults could save the most
Mandatory health insurance premiums fall into three age groups: Children (up to the age of 18), young adults (between 19 and 25), and adults (from the age of 26). Which age group you fall into not only determines how much you pay, but it also strongly affects how much you can potentially save. On average, adults could save 471 francs across 2023 by changing to the cheapest health insurance provider, without changing insurance models. Young adults could save an average of 529 francs, and children could save 215 francs.
Savings potential is highest in the canton of Ticino
Unlike 2022, when potential savings from changing health insurance providers were highest in the canton of Geneva, savings potential in 2023 is biggest in Ticino. Adult residents of the southernmost canton could save an average of 612 francs over 2023 by migrating to the cheapest insurance company. “The canton of Ticino will experience disproportionately-high premium increases in 2023. Many residents could counter the effects of that price hike by changing insurance providers,” says Felix Oeschger.
The average potential savings from changing insurance provider as an adult are lowest in the canton of Appenzell Innerrhoden at 257 francs per person over the coming year, and in the canton of Uri at 295 francs per person. But even for residents of those cantons, comparing premiums is worth it.
Changing insurance models could save residents 2.9 billion francs
The expensive standard insurance model of mandatory health insurance lets the insured person visit any doctors of their choice. The cheaper managed-care models require patients to first consult a specific doctor or other gatekeeper. The FOPH differentiates between family doctor (general practitioner), telemedicine, and HMO models. A number of new managed care models are now offered in addition to those.
Only a minority of residents use the cheapest available insurance model. On average, residents could save 327 francs per person in 2023 just by moving to the cheapest managed care offer from their existing insurance provider, without even changing their insurance provider. Estimated across Switzerland’s entire insured population, that adds up to 2.9 billion francs of potential savings.
Differences between age groups are also visible with regards to changing insurance models. The possibility of saving by moving to the cheapest insurance model from the same insurance company is much bigger for adults (age 26 and older) than for young adults (19 to 25 years old). While adults could save an average of 401 francs per person by using their insurance provider’s cheapest insurance model, young adults could only save 238 francs. One reason for this is that 80 percent already use a managed care model, according to the FOPH. The percentage of adults who use managed care is lower.
For children, as for young adults, the bulk of the savings potential is in changing insurance companies (215 francs over the coming year) rather than in changing insurance models (68 francs).
Calculate your personal savings potential
The potential savings calculated by moneyland.ch are theoretical averages. They do not clearly define how much a specific household could save on health insurance. Personal savings vary depending on where you live, your age, and your existing insurance. Depending on your healthcare expenses, you may be able to save additional money by using a different insurance deductible. You can easily find out exactly how much you could save based on all relevant factors using the interactive compulsory health insurance comparison on moneyland.ch.
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Compare 2023 health insurance premiums now
Get a full overview of the Swiss mandatory health insurance savings potential study here
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