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Private Health Insurance Surges in Germany
Berlin – May 10, 2024 –
A significant increase in the popularity of private health insurance is sweeping Germany, driven by citizens’ pursuit of superior healthcare options. The rise,as reported from industry leaders,has seen figures reaching nearly 40 million people covered. This growing trend highlights the public’s trust in the private sector. for a deeper understanding, read on.
Private Health insurance Surges in Popularity as germans Seek Enhanced Coverage
Berlin-Private health insurance (PKV) is experiencing a meaningful upswing in Germany, reflecting a growing trend among citizens seeking enhanced healthcare options. The number of individuals covered by private health insurance rose by 1.36 million last year, reaching a total of 39.9 million. This surge underscores the increasing confidence in the private sector’s ability to deliver quality and stable healthcare services.
Thomas Brahm, chairman of the PKV association, emphasized the meaning of this growth at the annual conference in Berlin. Almost every second German is now privately insured. This growth again proves that people trust PKV’s performance and stability,
Brahm stated.
Demand for Additional Coverage on the rise
The demand for private additional insurance is also on the rise, with the number of insured individuals growing by 4.5 percent to a total of 31.2 million. This trend indicates that many germans are seeking to supplement their statutory health insurance (GKV) with private coverage to enhance their healthcare benefits.
The trend is unchecked: more and more insured people are relying on private provision to increase the level of performance of statutory health insurance (GKV),
Thomas Brahm,chairman of the PKV association
Full Insurance Remains Stable
The number of individuals with full private health insurance also remains stable, with a slight increase of 29,600 in 2024. After accounting for deaths, the total number of fully insured individuals stands at 8.74 million. This stability highlights the continued appeal of private health insurance for those seeking comprehensive coverage and long-term security.
Brahm highlighted the benefits of full insurance, stating that in addition to the high level of medical care, the insured treasures but also the lifelong benefit guarantee in the private health insurance.
Investing in the Future: Aging Provisions
Private health insurers are considerably increasing their aging provisions, with a 3.4 percent rise to approximately 339 billion euros in 2024. This capital ensures that insured individuals will have access to increasing health services in their old age,without burdening future generations. This proactive approach contributes to the long-term stability of the healthcare system.
The PKV emphasizes that from the start, every insured person ensures its later expenses.
This commitment ensures that the financial burden of healthcare is managed responsibly and sustainably.
Financial Overview: Contributions and Benefits
In 2024, contributions to health and long-term care insurance rose by 3.4 percent to 50.3 billion euros.Of this, 44.1 billion euros (a 2.9 percent increase) went to health insurance, and 6.2 billion euros (a 7.5 percent increase) went to private long-term care insurance.Insurance benefits also increased significantly by 9.7 percent to 39.1 billion euros, with 36.5 billion euros (a 9.8 percent increase) allocated to health insurance and 2.6 billion euros (an 8.1 percent increase) to long-term care.
Operational Health Insurance (BKV) Gains Traction
Operational Health Insurance (BKV), fully paid by employers, is experiencing strong growth in germany. The number of employees benefiting from a BKV rose from 2.1 million in 2023 to 2.4 million in 2024, representing a 15.8 percent increase. This trend indicates that more companies are recognizing the value of providing comprehensive health benefits to their employees.
