123ArticleOnline Logo
Welcome to 123ArticleOnline.com!
ALL >> Insurance >> View Article

4 External Key Factors That Drives The Rise In Health Insurance Premium

Profile Picture
By Author: Anna Ruth
Total Articles: 20
Comment this article
Facebook ShareTwitter ShareGoogle+ ShareTwitter Share

Presently the Switzerland Healthcare market is experiencing a continuous rise in the cost of medical expenditure. However, it is a mandate for every resident living in Switzerland to be insured by a basic health insurance policy. An individual covered by a health insurance policy is liable to receive medical treatments and facilities during the time of medical emergencies. A health insurance plan acts as a safeguard for medical uncertainties. Every year the insurance companies in Switzerland announce their premium charges based on some important factors and considerations. These factors are liable to increase or decrease the premium charges. Comparatively, over the years the premium charges in Switzerland have seen a continuous steady increase.
In Switzerland, laws regarding health insurance are looked over and governed by the Switzerland Federation of Law. The federation tries to limit and control the charges of health insurance premiums in the country. They maintain a strict policy regarding the health insurance premium charged by the companies to the citizen. The charges are controlled in order to avoid the exploitation of customers. A health insurance policy covers charges for medical treatments such as doctor’s fees, ambulance charges, hospital rent, etc. A health insurance premium is mostly depended on the wideness of health insurance coverage, apart from the coverage there are other different external factors that affect the premium charges. The main 5 key factors driving the rise in health insurance premiums include:
1. Medical and technological progress
With every passing year, medical companies in Switzerland brings in new technologies in the market with improved facilities that make the cost of the medical treatments expensive. Moreover, improved technology remains high in demand by the customers for a better treatment option.
2. New and expensive medicines
Medical companies continuously keep introducing new formulas in the market. Newly developed medicines are expensive in nature as their formulation is newly introduced in the market. New and improved medicines are generally expensive in nature. Therefore they are one of the most important external key factors which drive a rise in the health insurance premium.

4. Greater life expectancy
With better medical treatments and medication, the life expectancy of an individual in Switzerland has increased widely. The pollution-free and clean environment of Switzerland is also one of the reasons to increase the life expectancy of an individual living in Switzerland. Based on increased life expectancy in Switzerland insurance companies have started to charge higher health insurance premiums.
5. Constantly increasing expectations of policyholders, who want to draw more and more benefits
Often a policyholder goes to the doctor, takes medication, needs care or undergoes surgery, the higher the benefit costs and this ultimately has an impact on health insurance premiums. These services that are often used by the policyholder does increase the premium charges.

These were some of the important external factors that contribute to increasing the amount of health insurance premiums. However, the authority keeps an ideal view on the premium charges so as to make buying health insurance affordable to all. The Switzerland government also provides subsidies to middle-low income group individuals for buying health insurance premiums.

Total Views: 85Word Count: 507See All articles From Author

Add Comment

Insurance Articles

1. Why Having A Music Studio Insurance Is A Must For Every Studio Owner?
Author: Dan Schoenfeld

2. Get More For Independent Contractor Insurance Cost
Author: Jake Wintczak

3. Why Does Every Piano Owner Need A Reliable Piano Insurance?
Author: Dan Schoenfeld

4. Medicare Advantage Plans In Texas: What Makes The Plan So Popular In The Us?
Author: Vanessa Charles

5. Revolution In The Healthcare Sector
Author: Aafiya Ae

6. Silver Sneakers In San Antonio, Texas: How Senior American Citizens Are Benefited
Author: Vanessa Charles

7. Reasons To Have Services Of A Public Adjuster
Author: Ricky Sharma

8. The Ins And Outs Of Track Day Insurance
Author: Jake Wintczak

9. Why Family Financial Planning Is Essential?
Author: Sijo Mathews

10. The Benefits Of Insurance For Assisted Living Facilities
Author: Jake Wintczak

11. Wichtige Vorteile Einer Kinderkrankenversicherung In Der Schweiz
Author: Anna Ruth

12. Tips To Consider For Car Insurance Renewal In Uae
Author: Rachel Rose

13. 9 Begriffe Die Sie Vor Dem Kauf Einer Krankenversicherung Wissen Müssen
Author: Anna Ruth

14. Online Travel Insurance Singapore
Author: Online Travel Insurance Singapore

15. In-depth Understanding The Benefits Of A Family Health Insurance Plan
Author: Anna Ruth

Login To Account
Login Email:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: