Switzerland’s third largest health insurer had a good year in 2018, according to recently published financial statements.
Instead of holding onto all of the CHF 61.9 million profit it made last year, the not-for-profit company plans to return some of the money to policyholders between now and the end of the year.
Around half of all policyholders will receive something. Policyholders in ten cantons will receive them. In Vaud each adult will get CHF 50. In Geneva they’ll get CHF 100 and in Jura CHF 40. Children will get half of these sums.
This is the first time Assura has returned money to policyholders.
Premiums at Assura skyrocketed in 2016 (+15%) before rising further in 2017 (+4%) and again in 2018. These rises were partly driven by increasing numbers of people with poor health moving to Assura because of its lower premiums.
In addition, the system of risk sharing between insurers shifted costs from other insurers to Assura, putting further pressure on the company to raise premiums. In 2018. CHF 1 billion, 27% of the total premiums received by Assura, were transferred to other health Swiss health insurance companies with unhealthier more costly policyholders.
Assura policyholders will be contacted directly about the payments as soon as the plan has been approved by Switzerland’s Federal Office of Public Health.