Health insurance is a type of insurance that acts as an agreement between an insurer and a health insurance company to cover the cost of an individual’s medical expenses during the time of a medical emergency. Health insurance helps a person cover all their future medical expenses. In this process, an insurer agrees to pays a certain rate or premium each month in return of which a health insurance company agrees to pay a portion of the covered medical cost.
In Switzerland, a health insurance policy is mandatory for every one of its residents including expats and newborns. Thus, the health insurance system has compulsory rules and norms when it comes to subscribing to a health insurance policy.
According to the Transferwise blog, the average health insurance premium size in 2017 was 447 CHF per month per person making the average annual spend to 5,363 CHF per year (447*12). Transferwise also stated that the monthly health premium depends on the location of the insurer. Cities like Basel, Zurich, and Geneva are the places with the highest monthly premium. Everybody who lives in Switzerland for more than three months has to buy a health insurance policy. The healthcare system in Switzerland is not funded by taxes, instead, it is paid through by the residents through health insurance premiums. Healthcare in Switzerland is regulated by the Swiss Federal Law on Health Insurance, which ensures that policies are similar across the whole country. The healthcare system in Switzerland aims to reduce medical expenses throughout the country by promoting general health and responsibility. Residents in Switzerland buy health insurance policies to gain the benefits of regular checkups, paying the costs incurred towards medical tests, ambulance charges, hospitalization costs, and also for financial security. Below are the top seven reasons for a Switzerland resident to buy a health insurance policy:
Health insurance policies are generally flexible in nature because of huge demand. Various companies offer different schemes and policies with numerous features and facilities to choose from.
2. Regular Checkups
The most important reason to buy an insurance policy is the benefit of regular checkups. Many insurance plans offer periodical free-of-cost health check-ups under certain conditions. In many cases, even these check-ups are covered through a cashless payment mode, wherein the insured is not required to bear the expense from his or her own pocket at any given time.
3. Early identification of diseases
Regular and frequent check-ups enable early identification of diseases which helps to take early precautions for the identified diseases.
4. Financial Security
Health insurance provides financial securities to the policyholder by minimizing the financial expenses to be borne during the time of a medical emergency.
5. Cashless Facility
Most of the health insurance policies are cashless in nature. This facility enables the insured to avail of medical facilities without having to make a cash transaction.
6. Adequate medical facilities
Health insurance policies ensure the availability of adequate medical facilities to the insured without having to worry about huge medical expenses.
7. Pre and Post Hospital cost coverage
Health insurance policies facilitate pre and post-hospital cost coverage without being too heavy on the policy bearer’s pockets.
Although health insurance is a kind of pre-planning to pay for health care, every health insurance company has a unique coverage that provides different health benefits. It is important to compare and find out the best policy that takes care of your needs. You have to choose the best plan that gives you optimal coverage and fits in your budget too. There are many health insurance comparison sites that can provide you with the best offers available in the market.