Health Insurance in Germany: Public vs Private Health Insurance | What's Better For You?
ฝัง
- เผยแพร่เมื่อ 3 ก.ค. 2024
- Travel health insurance, public health insurance, or private health insurance? Which health insurance is best for you? 🤔
What people think is true:
✅ Travel health insurance is cheap
✅ Public health insurance is a family insurance
✅ Private health insurance gets you the fastest appointments
⛔️ Travel health insurance is no real health insurance
⛔️ Public health insurance is not accepted by all doctors & hospitals
⛔️ Private health insurance is expensive when you are old
In this video, we will get things straight and speak about objectively true facts, rather than myths and lies that are spread around the internet. So you can make the decision that is right for you.
Read the article here: perfinex.de/which-health-insu...
Videos Axel mentioned:
German Payslip Explained | Gross Salary & Net Salary, Income Taxes, Social Security, Pension
• German Payslip Explain...
Taxes in Germany Explained | Income Tax, Tax Classes, Church Tax, Solidarity Tax
• Taxes in Germany Expla...
German Social Security System Explained | Health Insurance, Public Pension, Accident Insurance, etc
• German Social Security...
Pension System in Germany | Public Pension, Rürup, Riester, Company Pension, Private Pension, etc
• Pension System in Germ...
-----
00:00 Intro
01:53 Basics of 2 Systems
02:50 Coverage of Public Health Insurance
03:49 Coverage of Private Health Insurance
04:31 Coverage Comparison: Public vs Private
06:10 Can You Choose the System Yourself?
06:40 Costs of Public Health Insurance
07:34 Costs of Private Health Insurance
08:12 Myth #1: Private is cheap when young & expensive when old
09:01 Cost Comparison: Public vs Private
10:26 Myth #2: Once Private, Always Private
12:00 How to Choose Your Health Insurance
13:15 How is Axel Insured?
-----
PerFinEx - Personal Finance for Expats
The #1 English-Speaking & Independent Financial Planner in Germany
-----
Set Yourself up for Financial Success!
Text Us on WhatsApp: +49 175 50 30 773
Secure a Meeting with Us: perfinex.de/meeting/
-----
Like & Follow Us on Social Media!
Instagram: / perfinexgermany
Facebook: / perfinexgermany
LinkedIn: / perfinexgermany
-----
The content of this TH-cam channel is provided for informational, educational, and entertainment purposes only and is not intended to constitute accounting, financial, legal, and/or tax advice. Consequently, you should not rely upon any information contained on this TH-cam channel for accounting, financial, legal, and/or tax advice.
Further does the content of this TH-cam channel not constitute, and should not be construed as, personal financial advice or a recommendation to buy, sell, or otherwise transact in any investment including any products or services or an invitation, offer, or solicitation to engage in any investment activity. Consult a professional financial advisor or conduct your own due diligence before investing.
Neither Axel Brückner nor PerFinEx makes any representation, warranty, or guarantee about the accuracy of the information contained in this TH-cam channel or in links to other TH-cam channels or websites. Videos are prerecorded. This TH-cam channel is provided "as is,“ and does not represent any outcome or result from viewing this channel. Viewing of this TH-cam channel is at your own risk. There are risks associated with investing. Loss of principal is possible so an investor may get back less than the amount invested. Past investment performance is not a guarantee or predictor of future investment performance.
None of the information or analysis presented are intended to form the basis for any personal financial decision, and no specific recommendations are intended. It is strongly recommended that you seek professional personal financial advice before making any personal financial decision. Any personal financial decision you make should be based on an assessment of your personal situation, professional situation, assets, liabilities, and risk tolerance in consultation with your personal financial advisor.
You enjoy this TH-cam channel and its contents only for personal, non-commercial purposes. Neither Axel Brückner, PerFinEx, nor anyone acting on their behalf, will be liable under any circumstances for damages of any kind.
![Private or Public Health Insurance in Germany [Which One To Choose?]](/img/n.gif)
*Fastest Way To PUBLIC Health Insurance: perfinex.de/goto/public-health-insurance/
*Fastest Way To PRIVATE Health Insurance: perfinex.de/goto/private-health-insurance/
thank you so much, this is very helpful
Thank you very much for watching!
My health my choice -Excellently described. You have cleared all the myths I was having. Thank you very much for such as informative videos.
Great video, could you make a second part where you are covering spouse and kids and the impacts on public / private health insurance? I believe that would be helpful as well, as this could be another contributing factor to the decision.
Great suggestion. We'll add the topic to the list.
This question is easily answered: Private health insurance does not cover your children or your spouse, unless you pay extra for that. Public health insurance includes your children and your spouse (if he/she does not work) with no cost but full service.
I like the video in explaining very well. I am in public health. I have few friends who are in private and every time they visit the doctor, they have to pay themselves and get it reimbursed. This is such a pain and you always have to find the cash in an emergency. Of course few insurances provide cashless, but with an extra premium.
Thank you for the compliment. Makes me very happy to hear that our videos are helpful to the expat community in Germany.
Your friends should reach out to their private health insurance company. Because usually you make a photo of the doctor's invoice and get the payment from the health insurance company before you have to pay the doctor. This is supposed to be a very smooth process for everyone involved (doctor, patient, insurance).
Not sure what you mean with "cashless, but with an extra premium". It's the first time I hear that a digital process costs extra money.
- Axel
Nice video. Like it. First time to understand the basic differecens in a simple way. What I am afarid of private is that one has to be very careful on what is included and what is not. Off course it depends on th mooney you pay and here is the trick. How can one make the best balance between mooney and services.
Makes me very happy that we found a way to deliver the info in a way you understand. 🙂
You are asking a great question that anyone who considers going private should ask themselves. The answer can only be found on an individual level: What does "best balance" mean for you?
Happy to help you find your personal answer before you make the switch too early. You can secure a free meeting here: perfinex.de/meeting or text us on WhatsApp +49 175 50 30 773
- Axel
The most profound video have watched so far on health insurance.
Am an international student coming to Germany in August for 2 years while my children will join me in January.
Which insurance option would you recommend which is quality and not expensive for an international student
Thank you for your nice words and great question.
The answer if public health insurance or private health is better for you depends on many different factors: How old are you? What's your medical history? Do you plan to work besides your studies? Do you plan to stay in Germany?...
Unfortunately for you, private health insurances don't really like to take students, so your only option might be public health insurance (for now).
Could you please also make a video on old age care insurance?
Sure, we'll put it on the list.
which are the top 5 insurance in Germany with pros or cons ?
Hello, I find your videos very helpful, informative and even entertaining :) Just one question about Healthcare and Long Term Care. I understand that most german providers will still provide cover for you in the EU if you move after retirement. Do you know any that cover you outside the EU? The USA in particular?
Loving the videos, learning a lot. Are you based in Munich?
The coverage of private health insurance outside the EU depends on the exact plan. We can help you select the best one for you: perfinex.de/meeting
And yes, our company is in Munich.
I have public insurance since almost 7 years, I never had any problem with payments. However the premium may be more, I do not have any idea about how private insurance works.
Hopefully our video helped you to understand Private Health Insurance better.
I will be relocating to Berlin in Sept 2022. I battled cancer in 2021 and currently, I am in remission. To check for recurrence I need to get a CT Scan / MRI done every 3-4 months. Which insurance would be right for me when I move to Berlin so that cost of the recurring scans is covered and in general, the pre-condition of cancer is covered?
With severe pre-existing conditions, public health insurance will be your only option.
Based on the yearly increase of the JAEG it is just a matter of time until you have to go back to public health insurance. For 2024 it is almost 70k. Sallaries do not increase same like the JAEG. Based on the increase in the last couple of years its increasing by 2.700€ per year. Based on that development even before 2030 we reach over 90.000€. This is nothing that works for employees over a longer term but definitely to safe some money if you are young and then switch back to public.
What happnes if I am both an employee and was in the public HI and then I open a private business? can I move to the private?
Generally speaking, yes. You can switch to the private health insurance.
One aspect why private health insurance is considered to be expensive is that a lot of employed people reach the treshold for switching only in middle age which leads to higher premiums right after they get into the system.
We have so many questions:
1. "private health insurance is considered to be expensive" >> Expensive in terms of or related to? People eligible to switch to the private health insurance will pay about 1.000€/month after the public health insurance raises the costs this July (50% paid by the employer in both public & private health insurance).
2. "people reach the treshold for switching only in middle age" >> What does "middle age" mean exactly? Is there any data supporting this statement?
3. "higher premiums right after they get into the system." >> Is that supposed to mean private health insurance increases as soon as people switch? In that case, please provide the data for that because Axel's private health insurance costs the same since he joined about 6 years ago.
Hello, interesting video.
I have few questions:
1) You said that's possible to go back to public in case you reduce your salary to below the threshold. But what if I am retired and can not pay the private insurance with my pension, can I move to public too?
2) In case a couple that only one of them work, in public the insurance will cover the wife under the same premium. In private, we need to pay for each, right? Does it worth? Talking about money only, what is your suggestion? Taking in consideration that the couple will stay long term in German and maybe retire (and don't have any other pension than the regular one yet - thanks for the videos!).
3) And what about childrens? I dont have yet, but lets say something happens, how it works on private insurance? Can I include the children? How much does it cost usually?
Basically, I want to know if makes sense change from public to private now but I am afraid that I cant pay that when I retire as my income could reduce a lot. And also that will need to pay for the family (Hope not for the childrens haha, but for wife yes).
Thanks a lot,
1. Good private health insurances allow you to have to change in retirement to have the same benefits as public health insurance for exactly the same price as public health insurance. So no need to go back to public.
2. When one spouse switches into the private system, the other spouse stays in the public system. In case you don't work, the job center can pay for your health insurance. Depends.
3. Children are always insured like the highest-earning parent is. Premium for a child is usually ±100€/month (50/50 split with employer like the parents health insurance).
It is tough to give recommendations over TH-cam comments as health insurance is always an individual consideration. Let us know if we can help: perfinex.de/meeting
I am publicly insured and getting a doctors appointment really takes a lot of time, I have to wait for 3 weeks to get an appointment. I also earn less than 64350 so I'm forced to be in public. I was in severe pain and had to wait for so long. Very poor system but what are the private additives you were talking about to speed up this process?
You can top up your public health insurance with private additives in dental, hospital, or ambulant sector.
Does it mean that if I loose my job and take lower paying job (below threshold) then also I will be forced to public insurance?
Great question. Depends how long you will (probably) be below the threshold. Worst case is you are forced back in public. In this case you can secure your re-entry into private health insurance tho.
Do private insurance companies also charge an additional premium based on the appearance of the person? For eg. if a young person wants to get the help of a good dermatologist to deal with his skin problems etc. In my experience most specialist dermatologists don't even accept public inc. patients.
How much of the cost is to be borne by the person in this case if he has a private insurance?
Does the insurance include cost of any accompanying prescription medicines or cosmetic treatments too?
That is correct. Many doctors decide not to work with patients from the public health insurance. In this case you have 2 options: Pay yourself or switch to the private health insurance system.
The beautiful thing about the private health insurance is that everyone can choose their own coverage. With a 5 star coverage the insurance company will pay for (almost) everything.
@@PerFinEx But you said you can't go private if under 64k €. So how to avail good private doctors/cosmeticians/dermatologists in that case ?
In that case you probably have to pay yourself if the German public health insurance is not paying anything.
You could also get private additives on top of public health insurance. But that is not going to work with pre-existing conditions.
Does Your Insurance, private or public, Affect the hances you have to get employment as a student in Germany?
Probably not.
If you earn just above the threshold (68-70,000) does it make financial sense to go private? Or does it only make sense if you are earning considerably more?
It depends on the individual situation, but it can make a lot of sense for sure. You can book a free meeting with us and let’s find out if it makes sense for you: perfinex.de/meeting
Hi, can you tell us if Ottonova is a good option for private health insurance?
They have a really good marketing department. 😉
@@PerFinEx Most diplomatic answer ever 😂😂
How can you guarantee that the private insurance company will still exists in the future and won't go bankrupt?
85% of civil servants / state employees are members of the private health insurance. They will not let their own health insurance go broke.
@@PerFinEx Thanks for your reply. Do you have any concrete evidence to support this? I would love to save money to change to private insurance. Please do a more detailed video on that, it requires more information with references to facts and reports. I hope you understand my point and thank you very much for your effort. Great video.
Evidence that 85% of civil servants are a member of the private health insurance can be found here: www.krankenkassenzentrale.de/wiki/krankenkasse-beamte#
If that's not it, what kind of information, references, facts, reports or you looking for?
I'm about to migrate to Germany, does private insurance represent a better option even if I pay for my whole family (2 Adults + 2 Children).
Great question. The answer depends on many different factors (also if both adults are even allowed to switch to the private health insurance system or if one might be forced into public health insurance). Feel free to book a free meeting at perfinex.de/meeting and we will help you find the best solution.
Hello
I am candidate from India
comming soon at Germany
for ph.d as well as an employee of TUM for three years if I will take if public insurance
how much will be premium every month
first premium we will pay from India what about next month premium
Please clarify these health insurance questions with your employer. Only TUM has the insights to answer your questions.
8:07 But what if you have a Private Healthinsurance and lose your job? You will have to pay 100% yourself to the private healthinsurance? Sounds like a big risk is you're single, and 1 income as an expat....
ps I'm moving to Germany from The Netherlands in December or January if I find an apartment, thank you so much for these videos!! I googled so much, but this clarifies things so much better!
Health insurance (public or private) while being unemployed depends on my different factors: How long will you be (likely) unemployed? Why are you unemployed, meaning did you resign or did the company fire you? Do you get unemployment benefits from social security? Will you earn below the private health insurance threshold because of your unemployment?
I am a student who will be coming to Germany for masters should I opt for public or private insurance?
It depends how your life looks like after you are finished with your studies. The right health insurance (system) is a long-term decision.
what about family having two children and wife earning lower amount than husband?
It depends. 😉
Hey Axel,
Lets say i join private insurance at age of 25, so is it going to same forever apart from inflation cost etc.
You mean if your Private Health Insurance will cost you the same your entire life from the moment you get in?
@@PerFinEx Yes, if its going to be same apart from inflation/regular cost(that increases for both private as well as public).
Basically, i want to know if how is cost increases as my age increase, but again apart from inflation/regular increase cost.
9:14 This part is pretty disingenuous. This show the increase of cost between years for a person at the same constant, unchanging age. The point is that Private insurance premium increases not just with this, let's call it "inflation", but also - and more importantly - with the age of the insured person.
Unfortunately your comment is 100% false.
So poor people are stuck with public insurance. No way for them to get private? Also you did not mentioned if private covers spouse and family or not like public does. In addition, if someone that is old and have pre-existing health condition, or maybe someone who have cancer and need treatments. How much is the private insurance going to cost them per month? Would be nice to have examples of private insurance cost for old people that have medical issues, specially with pre-existing condition that they got since young adult.
- Yes, in order to switch to the private health insurance system one needs to have at least 64.350€ gross salary or be self-employed
- In the privat health insurance system, every person has their own contract. Family insurance exists only in the public health insurance.
- Once you are a member of the private health insurance, it will cost you the same if you have cancer or not. If you have pre-conditions already, it will be tough or impossible to get into any private health insurance.
@@PerFinEx so best to get private when you are healthy and if in the future you get new medical issues, they won't change the cost? and will keep serving you?
Health insurance in Germany is mandatory. They cannot kick you out.
Thank god I’m in the UK 🇬🇧 free healthcare as well free doctor visits
"Free" as the NHS is mainly funded from general taxation supplemented by National Insurance contributions (NICs). Like the public health insurance system in Germany is funded by taxes & social security contributions.