Dieter Homburg: Private health insurance – these are the aspects that really matter!

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27.06.2023 – 15:07

Specialist center finance AG & Co.KG

Lippstadt

In particular, the contributions of private health insurance have a strong impact on the quality of life in retirement age: Dieter Homburg knows that many pensioners pay large parts of their pension for health insurance because they made the wrong decisions when they were young. Through his advice and the optimization of existing private health insurance tariffs, he ensures that his customers often save tens of thousands of euros over the entire term of the contract and are still well protected in an emergency. In the following you will find out what distinguishes private health insurance from statutory health insurance and what pitfalls to avoid when taking out insurance.

It’s no secret that the German healthcare system has been badly hit for years. Federal Minister of Health Karl Lauterbach has recently announced that statutory health insurance will become more expensive again. More and more people are therefore looking for a way to better protect their own health and wallet. One of the most important measures for this is private health insurance. “Anyone who is privately insured has access to doctors and therapies that are not included in the service package of the statutory health insurance companies. In addition, if the general conditions are right, they pay significantly less contribution and can thus ensure contribution security in old age,” says Dieter Homburg. “At the same time, however, there are some special features that must be observed with private health insurance in order to get the best out of it.” The individual policies differ much more in the scope of services than statutory insurance, while in some cases it is more complicated for people with previous illnesses to get started. As the owner of the specialist finance center, operator of the largest podcast for private health insurance in Germany and bestselling author of “Retirement Provision for Dummies”, Dieter Homburg is very familiar with the harassment and pitfalls of private health insurance: On this basis, he helps his customers regularly, five to to save six-figure amounts in retirement. In the following, the expert has summarized what needs to be considered when concluding private health insurance and what specific advantages arise for the patient.

Free choice of doctor and practice

One thing is inevitably certain: With the appropriate know-how, you can protect your health much better with the help of good private health insurance than with statutory health insurance. They even live longer, which has been proven by both the Federal Statistical Office and the official mortality tables.

A 40-year-old man with private health insurance lives on average almost 6 years longer than a person with statutory health insurance. And that is not only due to the better level of education and higher income – but above all because privately insured people have better access to all specialists, private practices and clinics, which are only available to those with statutory insurance if they pay for themselves. In addition, the number of public hospitals has decreased significantly in the last 20 years alone. The result: overcrowded houses and overwhelmed staff. This is contrasted by the increased number of private facilities – the range of medical care is therefore much higher for privately insured people. In addition, private clinics and practices often have particularly good doctors and leading specialists.

In addition, private patients are free to choose what happens to them and their health. Unlike those with statutory health insurance, who largely have to rely on the judgment of the attending physician, those with private health insurance always have options. They can choose the doctor themselves, obtain further opinions, influence the course of treatment themselves and request or refuse certain procedures.

Their choice is not even limited to the procedures and medicines that are available to them as part of the statutory insurance benefits. Through private health insurance, patients have access to innovative treatment options – often years earlier than these are approved by statutory health insurance companies. These advantages are also reflected in life expectancy, which is four to six years higher on average for privately insured people.

Beware of supposed bargains: That’s why it’s important to check the policies carefully

In order to be able to benefit from private health insurance in the long term, choosing the right tariff is of paramount importance. Since many tariffs are undercalculated, supposed bargains often become unbearably expensive later on – insured persons then have to accept reductions in benefits in order to be able to continue to afford private insurance. So that such nasty surprises do not occur in the first place, the insurer or seller should prove that the premium has remained stable for at least 30 years. Otherwise, you buy a pig in a poke and cannot assess whether the calculation of the desired tariff worked out or, as is so often the case, first becomes cheap when you are young and then becomes really expensive when you are older.

It is also important to ensure that the policy you choose covers all eventualities. If there are maximum amounts in euros hidden in the small print (inflation problem), or if the insurer excludes certain benefits, a stay in a private clinic or expensive aids and implants become expensive. These represent a special cost trap that many customers fall into: Since inflation is often not taken into account, an amount that is currently sufficient will no longer be able to cover the costs of the treatment in a few years.

Fill out insurance applications conscientiously and truthfully

In contrast to statutory health insurance, the tariff of a private health insurance depends on the state of health of the insured person at the time of entry. This is therefore requested in the application form. However, insurance salespeople are often primarily interested in the commission if they help fill it out. Clinical pictures are therefore occasionally ignored or disguised so that a cheaper tariff can be offered. In an emergency, however, false information can have serious consequences, which can range from demands for additional contributions and refusal of benefits to termination of the insurance relationship. Since in such cases the customer is ultimately left alone in the rain, questions about the state of health should be answered conscientiously from the outset – ideally with statements from the GKV as proof.

Get advice and make the best possible use of the advantages of private health insurance

Ultimately, it is important to use your advantages as a privately insured person correctly. If, for example, a complicated knee operation is planned, it is advisable to consult the best specialist in the whole country. Finally, there are decisive, statistically proven differences in the success statistics of individual doctors and clinics. A fact that privately insured people should definitely take advantage of. Likewise, not every treatment should be approved without a doubt. After all, the tendency to over-treat is widespread in order to be able to settle larger amounts. A second opinion should therefore be obtained, especially before major treatments such as an operation. In this way, 60 percent of all recommended operations can be avoided and treated conservatively instead.

If you pay attention to these aspects and find out about all tariffs and policies in advance, you can reap great benefits from private health insurance. Since insurance contracts are often complicated, it may be advisable to seek the support of an independent advisor in order to find the best tariff for you, which will protect your health in the best and most effective way for many years.

If you are already privately insured yourself, be sure to put your contract to the test! Not that this expensive service has gaps in the small print or the risk of becoming very expensive in old age. If you are still toying with the idea of ​​taking out private insurance for the first time, it is better to do everything right from the start. In both cases our author can support you. You can book a free initial consultation here: Dieter Homburg.

Press contact:

Specialist center finance AG & Co.KG
Represented by: Klaus Dieter Homburg

[email protected]

Press contact:
Ruben Schaefer
E-Mail: [email protected]

Original content from: Fachzentrum Finanzen AG & Co.KG, transmitted by news aktuell