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Voluntary reduction of reserves

Simply fair

As a fair health insurer, Sympany believes in the importance of offering affordable premiums. As a result, Sympany is taking advantage of a voluntary reduction of reserves. This enables us to give unnecessary reserves back to our basic insurance customers. You receive a monthly compensation amount which is indicated on the premium invoice and is deducted from the premium. A planned reduction of reserves must be approved by the Federal Office of Public Health (FOPH).

Questions and answers about the reduction of reserves

No, that is not the case. As required by the FOPH, Sympany’s reserves are high enough to be able to bear the benefit costs at all times, even in bad times, such as the coronavirus pandemic.

Repayment of reserves is voluntary and an application must be submitted to the FOPH. It is only possible if the reserves do not fall below a minimum level. 

The legally required minimum amount of reserves must be adhered to. Sympany reassesses the situation every year and decides, taking into account the reserve reduction plan, whether it can submit a request to the FOPH to reduce its reserves. Any reduction of reserves must always be approved by the FOPH.

In basic insurance, the reserves are used to cover above-average benefit costs. The reserves therefore offer security for all parties involved: for premium payers, for doctors, for hospitals and treatment facilities. The minimum level of reserves is prescribed by law.

Yes. Sympany uses the option of voluntary reserve reduction. As it has sufficient reserves, premiums can be calculated lower from the outset and reserves reduced. The reserve reduction plan is reviewed annually by the FOPH and only approved if there are sufficient reserves.

Sympany is already calculating premiums to make them as low as possible for its policyholders. Like all health insurance companies, Sympany is obliged to submit premiums to the FOPH for approval on an annual basis. These premiums must cover costs at all times. For this reason, reserves must not be reduced by lowering premiums to the extent that they do not cover costs.

All policyholders who are insured with Sympany in the year of the reduction of reserves, and in the legal entities in which a reduction of reserves was approved, will benefit from this. They will receive a monthly compensation amount deducted from their premium. Adults, young adults and children receive different amounts.

Yes, Sympany has sufficient reserves to cushion unforeseeable developments and to avoid yo-yo effects in premium development. This means that policyholders can rely on Sympany at all times.

The high quality of the Swiss healthcare system is based on reliability and stability. Health insurers make a significant contribution to this. Thanks to their reserves, they can pay for medical treatment correctly and on time without exception – especially in the case of unforeseeable events such as the coronavirus pandemic.

The Federal Council has simplified the voluntary reduction of reserves process. Specifically, the minimum level of reserves has been reduced. This will make it easier for health insurers to meet the conditions for a voluntary reduction of reserves, i.e. to calculate their premiums more accurately and to return reserves to policyholders.

Sympany no longer plans to repay surpluses in basic insurance. Instead, Sympany wants to take advantage of the voluntary reduction of reserves.

Sympany will continue to pay back surpluses in supplementary insurance if possible.

All policyholders with basic insurance benefit from the voluntary reduction of reserves. The reduction of reserves therefore has a direct dampening effect on premium development. By contrast, only policyholders in those cantons (basic insurance) or with those insurance products (supplementary insurance) in which the healthcare costs were significantly lower than the premiums paid in the previous year receive surpluses.

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