If the actual healthcare costs turn out to be lower than anticipated when setting premiums, Sympany customers receive the surpluses back in the following year – and this applies to both basic insurance and supplementary insurance.
Surpluses from 2018 will be paid out this autumn.
This year, a family of four received up to CHF 1,600 from basic insurance and CHF 1,280 from supplementary insurance!
Surpluses are excess premium payments. Despite lots of uncertainties, insurance companies are required to set premium rates so that they cover costs. However, this means that, even though they are calculated very carefully, premiums are sometimes set too high and policyholders end up paying too much over the year. Insurance companies use the surpluses this generates in basic insurance to create reserves for the next few years – or may be refunded to policyholders following approval by the authorities.
Due to the fair and transparent way it handles its own reserves, Sympany refunds its customers the surplus money they paid – not just for supplementary insurance, but also as one of few health insurers to do this for basic insurance too. That is how we have been leading by example since 2016.
It’s a simple idea – surplus refunds are dependent on the operating result. For basic insurance, surpluses are paid out in the cantons and legal entities in which excess premiums were paid. This year, this applies to Vivao Sympany AG, Moove Sympany AG and Kolping Krankenkasse AG. For supplementary insurance, accrued surpluses are paid out for each insurance product.
Children, young adults and adults alike benefit from surplus payouts with Sympany.
Basic insurance: you need to have been insured in a canton and a Sympany legal entity in which surpluses accrued in the year prior to the surplus payout.
Supplementary insurance: you need to have been insured with a Sympany supplementary hospital insurance product for which surpluses accrued for the entire year prior to the surplus payout.
Sympany offsets excess premium income with surplus payouts.
This means that some customers have overpaid in your canton of residence (basic insurance) or your insurance product (supplementary insurance). To ensure that it remains fair for everyone, Sympany will repay the surpluses that have accrued to those policyholders who have paid too much the following year.
Surpluses are paid out in the autumn, immediately after approval by the authorities. Sympany notifies all customers who will receive surpluses.
Many thanks for the reimbursement. I almost feel bad about it because I had to have operations on both my knees last year due to arthritis.
Elisabeth Spreng Troller, Basel
I received the letter from Sympany yesterday regarding the repayment. What a pleasant surprise! I have to thank you very much for this gesture.
Claire M. from B.