Health insurance surely provides a safeguard to medical emergencies. It benefits the insurer with cashless medical treatments and facilities, although these treatments are cashless in nature but they are chargeable. Health insurance companies charge a premium periodically for insuring the policyholder. This chargeable premium differs from policy to policy. Chargeable premium also depends on the insurance provider for which there are many alternative options available in the market to compare and choose from. An individual can select the best suitable insurance provider and policy as per its requirement and affordability.
Health insurance in Switzerland is compulsory but expensive, however, by following a few steps, an individual can reduce the cost of health insurance. The following listed ways can effectively minimize the cost charged on heavy premiums:
1. Compare various health insurance providers and policies
It is advisable to compare various insurance providers and policies before buying one. Comparing insurance providers and policies provides a wide range of options to choose from. This ensures the selection of best policy and provider as per the requirements of an individual.
2. Choose the right insurance provider and policy
Insurance premiums for compulsory health insurance are adjusted every year. The coverage provided by different providers varies greatly from one insurance provider to another. An individual can save a lot of money each year by choosing the most affordable provider.
3. Enable subsidiary on premium reductions
The government of Switzerland provides a subsidiary on premium reduction to low-income groups. These subsidiaries are paid by the social security office of the individual’s residence. If an individual comes under the category of low-income taxpayers, he/she is entitled to receive a subsidiary for a premium reduction. Enabling a subsidiary reduction provides the benefits of low premium payment. This reduction on premium differs from location to location.
4. Pay premium smartly
Many health insurance providers offer various discounts and schemes when an individual pays the full annual premium in advance rather than paying a monthly premium. One time annual payment of premium increases the convenience of the insurer, it reduces the hassle faced by the insurer for making payments monthly, rather it also enables a benefit of additional discounts on a one-time payment.
5. Avoid unnecessary coverage
An individual can avoid unnecessary coverage if insured by its employer for accidental coverage. He/she can avoid the additional accidental coverage charge applied to the policy and can opt-out of unnecessary coverages. These coverages increase the cost of premium charged by the policy provider. The avoidance of such facilities can save a high cost.
6. Switch to different health insurance policy provider
If your insurer charges a high premium for supplementary facilities in addition to the compulsory coverage that an individual receives, it is advisable to opt for a different supplementary provider. Compulsory and supplementary health insurance policies are always in separate contacts.
7. Put health insurance policy on hold during military or civil services
If an individual participates in Swiss military services for 60 successive days or longer, he/she can put compulsory health insurance on hold because during that time an individual is covered by the military health insurance. It is important for an individual to inform its health insurance company about the military service duration and get a confirmation that will put the policy on hold for the duration of the service.