Private health insurance Germany calculator

Contrary to public health insurance (gesetzliche Krankenversicherung, short GKV), contributions to private health insurance plans in Germany are calculated independently of income. The amount of contributions to private health insurance is determined by:

• age at entry into private health insurance
• the state of health
• the services requested/tariff chosen.

In addition, pension provisions are included in the contribution, in order to keep your contributions stable even in old age.

The contributions of each insured person are thus calculated individually so that each person can cover his or her own health costs with his or her paid contributions. This is called the principle of equivalence.

In private health insurance, monthly contributions are calculated individually and depend on various factors, which is why flat-rate statements are difficult to make. The monthly cost of private health insurance varies from individual case to individual case. Two examples help to illustrate this:

A 32-year-old employ over 69,300 euros per year pays 294,64 euros per month for the Business Class tariff of ottonova.

In the case of the self-employed, the employer does not contribute, so they pay the full contribution themselves. For a self-employed person of the same age without previous illnesses, the monthly contribution in the Business Class tariff of ottonova is 604.11 euros.

• The following can be insured under private health insurance:
• Self-employed and freelancers (Exceptions may apply, for example, to artists. )
• Officials and other persons entitled to the allowance
• Employees with an income above the annual earnings limit
• Students, if they are exempted from compulsory insurance under public health insurance

Insurance in private health insurance is not an obligation for anyone. However, it is worthwhile financially and in terms of performance for some people to insure themselves in private health insurance rather than in the statutory health insurance.

Especially people with a salary above the contribution threshold of 5,512.50 Euros per month, who pay the maximum contribution in the public health insurance, benefit from the financial advantage in the private health insurance. Civil servants also have many advantages in private health insurance. In most Länder, they are only entitled to benefit if they opt for private health insurance.

The employer's subsidy for private health insurance and private care insurance is paid to all employees who are voluntarily insured by statutory or private law. The employer pays part of the PKV contribution tax-free.

The amount depends on the contribution to private health insurance. However, it may not exceed 50 percent of the contribution and is at most half of the maximum employer contribution for legally insured persons. The subsidy for private health and long-term care insurance is based on the applicable contribution rates, such as the contribution assessment limit of the statutory health insurance.

The maximum subsidy for private health insurance (471.32 euros) plus for private care insurance (99.23 euros) is 509.74 euros.

Health insurances, we can't just increase premiums all the time. Contributions can be increased if actual health care costs generally differ by more than 5 per cent from what we have calculated. This can only happen because of inflation and rising medical costs.

However, this will never happen for individual persons, but for all insured persons at the same time. In particular, we are unable to increase your contributions because you are getting sick or older. Nor can we terminate your contract for these reasons. ottonova guarantees lifetime insurance coverage upon conclusion of the contract.

The legislator sets a minimum annual wage limit, the so-called annual wage limit. This is currently at €73,800 for employees. If you earn money on it, you can take out private insurance. If your income falls below that, you'll have to go back to the state insurance. The limit is raised annually. If you are no longer in the green zone as a result of such a measure, you can exempt yourself from compulsory insurance within 3 months and continue to remain in the PKV.

All private health insurers spend a large proportion of their contributions to increase the money for higher health costs in old age. The market is currently expecting an invoice interest rate of more than 2.5%. However, this does not correspond to the current interest rate situation at which one can invest money at the moment. As a result, once cheaper contributions will inevitably have to become more expensive in the future in order to compensate for these shortfalls.

ottonova expects an interest rate of 1.25%, which corresponds to the current capital market. Our contributions are therefore not much cheaper today, but they remain more stable because we are likely to be able to increase the money just as we calculated it.

Want to know more about it? Here you can find more on the subject.