Health insurance premiums and health costs: 2 indispensable factors in the tax return

Rising health costs are a major challenge for our society. Their rise far above the growth of economic output and population is a major concern for everyone. In Switzerland, the Health insurance premiums in 2023 by an average 6.6% . Unfortunately, the trend for the coming years does not look any better (source: statista).

Fortunately, it is possible to individual health insurance premiums and optimize health care costs and thus save on taxes. The following approaches and tips can help you.

1. Choice of health insurance provider

If health insurance premiums increase on average, this does not apply to all health insurance companies to the same extent and not to all cantons. It is always worth paying for health insurance premiums, that is each year before 15 November to be on the safe side or 30 November (last date) to compare and possibly change health insurance providers, On Insurance specialist can help quickly and easily and can offer you offers that are online not found.

In addition to the premium and the administrative costs, it is also worth comparing the processes and services. Does the health insurance company pay the bill for the healthcare costs directly, or do you have to wait a long time for reimbursement, which may even be rejected?

1.1 Health insurance comparison and checkup of health insurance premiums

While there are dozens of comparison portals, which are often connected to an agent or a health insurance company itself, it is worth taking a look at the current premium situation. You only need to know 3 things:

1. vintage
2. Franchise
3. Post code

Optionally, you can enter your current health insurance provider to see the difference between the offers. This independent premium calculators 2024 is offered anonymously and easily by the BAG.

2. Reduce consumption and costs

Basically, everyone has to consider which treatments and medications are really necessary. When it comes to medications, there is a wide selection available, including generics, which can be determined or influenced by the consumer and patient if a prescription is required. Savings in health care costs mean you save on the deductible or co-payment.

In addition, you can save health care costsby paying attention to your personal physical and mental health, as well as your diet and sleeping habits. For example, some health insurance companies offer reimbursement for a gym membership or exercise sessions as refund cash.

3. Choose your franchise wisely

Choosing a deductible between 300 and 2500 francs means that money must be set aside for emergencies. If you have these amounts in your movable assets and know that no planned health care costs If you have to pay a higher deductible, you can choose the higher deductible and save large amounts on your health insurance premiums.

Conversely, you should go for the lowest deductible if you go to the doctor regularly or if you already know that a planned procedure is coming up, for example. After this treatment, the deductible can be increased again. This is possible every year, just like changing health insurance providers.

4. Correctly declare taxes and deductions for health care costs in your tax return

In all cantons you can reduce your health insurance premiums up to Deduct maximum amount from income tax. For this, the receipt from the health insurance company is required.

The deductible and all other health costs that are not covered by the insurance, such as dental bills and alternative medication, can also be claimed. However, the sum must exceed an income-dependent minimum amount. In order to reach this, expenditure planning is also necessary here. It is worth sending the entire list of health costs and the tax return to a professional service provider to delegate in order to realize possible tax savings.