Health Insurance Premiums to Increase by 8.7 Percent on Average in 2024
Published: Tuesday, Sep 26th 2023, 13:13
Updated At: Friday, Oct 13th 2023, 14:12
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The Swiss Federal Office of Public Health (BAG) announced on Tuesday that health insurance premiums will increase by 8.7% in 2024. This is the largest increase since 2010, with the highest increase in Ticino at 10.5% and the lowest in Basel-Stadt and Appenzell-Innerrhoden at 6.5%. For adults, the monthly premiums will increase by 33.80 francs or 8.6% to 426.70 francs. Young adults will have to pay 300.60 francs, an increase of 23.80 francs or 8.6%. The monthly premiums for children will increase by 8 francs or 7.7% to an average of 111.80 francs. The main reason for the premium increase in 2024 is the rising costs of healthcare. Visits to doctors and outpatient hospital services, as well as more and more expensive medications, have caused the surge. The premiums will not cover the costs of around 35 billion francs for the health insurers in 2023. Ambulatory hospital services cost 8.5% more per insured person in 2022. Visits to doctors increased by 5.1%, while the number of visits remained the same. Medications, which make up 22% of total costs, increased by 5.5% in the last year, with cancer medications, immunosuppressants and antidiabetics responsible for half of the cost per head. The premium increase in 2024 is also due to the lower premiums in 2021 and 2022, as many insured people switched insurers or chose a higher franchise. This resulted in an average increase of only 5.4%. The cost increase in 2024 and the strong catch-up effects after the Covid-19 pandemic have further exacerbated the situation. The reserves of the health insurers have fallen to 8.5 billion francs, which is enough, but there is no longer any cushion to dampen the premium development.
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