Old age savings (Altersrückstellungen) are reserves built up during your working years to help stabilize your private health insurance (PKV) contribution as you get older. Plans with old age savings — Standard, Plus, and Premium — include a legally required 10% surcharge on the premium, applied until age 60. The transfer value (Übertragungswert) is the portion of those reserves you can take with you when you move from one private health insurance provider to another. When you switch to us, we recalculate your monthly contribution once your coverage is confirmed and your previous provider certifies your transfer value.
What are old age savings (Altersrückstellungen) in private health insurance?
Old age savings (Altersrückstellungen) are reserves that are built up inside a private health insurance (PKV) plan while you are younger. Part of your monthly contribution is set aside to help stabilize what you pay later in life. Healthcare costs typically rise with age, and these accumulated reserves reduce the risk of large contribution increases in retirement.
Which private health insurance plans include old age savings?
Old age savings are a mandatory component of our private health insurance (PKV) plans with old age savings: Standard, Plus, and Premium. These are substitutive full-coverage plans (Vollversicherung), and old age savings are required by law for them.
How much do old age savings cost, and can the surcharge be removed?
Old age savings in a substitutive full-coverage private health insurance (PKV) plan are funded through a 10% surcharge on your health insurance premium. This surcharge is legally required, is typically applied until age 60, and cannot be removed from the policy.
What is the transfer value (Übertragungswert) in private health insurance?
The transfer value (Übertragungswert) is the portion of your accumulated old age savings that can be moved with you when you switch from one private health insurance (PKV) provider to another. It represents the part of your reserves that is portable rather than the full amount you have built up.
How is the transfer value calculated and how do I find out its amount?
The transfer value of a private health insurance (PKV) policy is determined by a few factors:
It's calculated based on the contributions you have paid and the benefits you have acquired.
It increases over time as you continue paying contributions into the policy.
It's typically relatively low during the first years of a policy.
Your private health insurance provider reports the current amount to you every 2 years.
How does switching private health insurance providers with a transfer value work?
If you move to us from another private health insurance (PKV) provider, we recalculate your monthly contribution in 2 steps:
Your coverage with us is confirmed.
We receive a certificate from your previous private health insurance provider confirming your transfer value.
What determines my final monthly contribution when I transfer old age savings?
Your final monthly contribution for private health insurance (PKV) depends on several factors:
Your age when your policy starts.
The plan you choose: Short-term, Standard, Plus, or Premium.
Your health status at sign-up.
The amount of old age savings transferred from your previous provider.