Public vs Private Health Insurance in Germany | How Much Can You Save by Switching Health Insurance?

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Which health insurance in Germany is best for you? Public health insurance or private health insurance? 🤔
German health insurance is a major topic for expats living in Germany. Hardly any topic in the field of personal finance has more myths than health insurance in Germany - especially the private health insurance.
That's why Axel will clear some of these health insurance myths for you:
Is coverage better in public health insurance or private health insurance? 🤔
Will private health insurance be crazy expensive in retirement age? 🤔
How can you optimize your health insurance premium in price? 🤔
Read the article here: perfinex.de/german-health-ins...
Axel's PhD Survey: forms.gle/U76cDHtnt2eqXuDe8
Videos Axel mentioned:
Health Insurance in Germany: Public Health vs Private Health | What's Better For You?
• Health Insurance in Ge...
Best Paid Jobs in Germany: How Much Money Can You Earn? | Jobs With the Highest Salary in Germany
• Best Paid Jobs in Germ...
Passive Income in Germany | Earn Passive Income With Dividends, Interest & Rental Income in Germany
• Passive Income in Germ...
Must-Have Insurance in Germany: Disability Insurance to Provide Income When Injured or Disabled
• Must-Have Insurance in...
Must-Have Insurance in Germany: Private Liability Insurance Will Pay for All Damages You Cause
• Must-Have Insurance in...
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00:00 Intro
02:08 How to Select Health Insurance in Germany
03:36 Summing up Public Health Insurance
06:00 How to Select Private Health Insurance
07:02 Choosing Your Deductible For Private Health Insurance
08:01 Different Coverage Level of the German Healthcare System
09:02 Summing up Private Health Insurance
10:44 (Private) Health Insurance in Retirement Age
11:39 Deductions for Public Health Insurance
12:58 Deductions for Private Health Insurance
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The #1 English-Speaking & Independent Financial Planner in Germany
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Опубликовано:

13 июл 2024

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Комментарии : 53

@PerFinEx Год назад

*Fastest Way To PUBLIC Health Insurance: perfinex.de/goto/public-health-insurance/ *Fastest Way To PRIVATE Health Insurance: perfinex.de/goto/private-health-insurance/

@quirky-smooths 3 года назад

A couple of things to note: 1. The 900 EUR reimbursement is guaranteed 2. The 2.5 times the monthly contribution reimbursement is not guaranteed (but usually gets paid pretty reliably) 3. As far as I know, these reimbursements are taxed (please correct me if I'm wrong) The biggest benefit that I've noticed so far is shorter waiting times. Some practices have dedicated appointment windows for privately insured, so even same-day appointments can be possible sometimes. This is not always the case though and it can also be similar to public insurance depending on a doctor or service that you need. The biggest con in comparison to TK so far is that my private insurance doesn't have customer support in English. TK on the other hand has perfect English-speaking customer support at least during working hours. I also haven't noticed an increase in my after tax salary after switching to private, so I'll have to watch one of Axel's awesome videos about understanding German payslips to figure out the reason :)

@PerFinEx 3 года назад

1. It depends.😉 2. If rules apply, the health insurance company will pay. 3. As only real contributions are tax-deductible, the reimbursement diminishes your taxable contributions. Having 2,5 MB in real cash is much better than paying 2,5 MB and get a fraction in taxes back. Private patients are much more valuable for doctors in Germany, that's why they get treated better with faster appointments. You are absolutely right there. If your health insurance does not offer English support, it may be time to work with us.😉

@shyamsundar1985 2 года назад

This video is awesome, exactly what I was looking for..thanks a lot..it's really informative..pls post more of such videos..

@PerFinEx Год назад

Thank you very much for watching!

@stukipuki 3 года назад

Big fan of your videos. It makes my life easier 👏

@PerFinEx 3 года назад

Happy to hear that!

@avineshbholah1131 3 года назад

Thanks for the explanation

@PerFinEx 3 года назад

Thanks for watching. 🙂

@tanerbilgic370 Год назад

Thanks! I appreciate if you can make a video about private additives over public insurance.

@ajaylamba31 Год назад

Hi, your videos are really underrated. Great job! One response I saw in another youtubers video was: private insurance will get very expensive as you age and will eat into your pension. Would be great if you can cover that aspect (to what extent is that true) and is there a workaround. I am in a public insurance now with tk but want to switch to private with my family.

@PerFinEx Год назад

Thank you for your nice words. Axel talked about the "private health insurance is super expensive in retirement age" myth in this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-YKhOMOLphAo.html At the end of the day it comes down to your financial situation before retirement & in retirement. If you plan on being poor in retirement (e.g. by relying on public pension), private health insurance will be expensive in retirement. If you plan on maintaining your financial situation you have right now also in retirement, private heath insurance might even be cheaper than public health insurance.

@Hackquelot Год назад

Seems this is an old video, but maybe I will get lucky and get and answer from Axel, I would like to know where can I get a quote for private insurance with a family of 5, 2 adults and 3 kids. In the page that you shared in the pinned comment the price is only for a single person and in your videos you mentioned that the payment will have to be done for each person (personal contract).

@khaled_osman 10 месяцев назад

The main selling point for public insurance is that once you choose private you can't go back to the public system. And with public insurance you can get your faimly insured for free with you

@PerFinEx 10 месяцев назад

This year, 3 clients transitioned back to public health insurance after being in the private health insurance before. So we can confirm that it is possible to do it. And there is not much "free" if both parents are working and each pays ±1.000€/month for public health insurance.

@abkrhandbaglover1314 2 года назад

Hi, thank you for sharing. Do you have any recommendation for private health insurance company? Do you recommend to change company from time to time to get cheaper or better contract?

@PerFinEx 2 года назад

The right private health insurance company depends on many different factors: Coverage you want, your age, deductible you want, etc. Feel free to book a free meeting right here and we will help you find the best private health insurance (+ health insurance plan) for your individual situation: perfinex.de/meeting

@germanybesttipstricksforfo5988 Год назад

We just created a comparison of private vs public vs travel health insurance for expats in Germany. Interested ?

@travelmoneymore5617 3 года назад

Thanks a lot for the video, Axel. Does it mean anzone can upgrade from public to Private with additives? thanks!

@PerFinEx 3 года назад

Anyone can upgrade his public health insurance with private additives, that's right. 👍

@shaqashaqahimself1866 3 года назад

Very edifying video. Is this solely for employees or self employed individuals? Or are students included for the 30 minutes meeting?

@PerFinEx 3 года назад

We don't exclude anyone solely by employment status. You know best if we can help you in the current stage of your life.

@shaqashaqahimself1866 3 года назад

@@PerFinEx Thank you for the clarity.

@waqardetho2426 2 года назад

He will not be telling you about health insurance, but will be promoting his videos.

@ebukaume Год назад

Great content! But in your example, doesn't it mean that Hans will have to either pay for his yearly (twice a year) professional dental cleaning himself or lose all his reimbursements. Which takes him back to well above €92 (yea, still better than public).

@PerFinEx Год назад

As professional dental cleaning is not paid for in most public health insurances (anymore), we would have to add it to both kinds of premiums.

@ebukaume Год назад

@@PerFinEx yea right, still cheaper but not €92, nein?

@satyas777 2 года назад

I did not understand a monthly contribution of around 250 euros is reduced 90 euros per month using Reimbursements concept. What are these reimbursements and how different are they from deductibles?

@PerFinEx 2 года назад

Deductible = how much you pay first before your insurance pays for invoices (can be 0€). Reimbursement = How much of the invoice the insurance pays (eg 80%). Cashback = Money you get if you don't hand in any invoices to your insurance company.

@vinodpatney28 Год назад

Will our netto be increased if we opt for private insurance? Asking this as the employer's mandatory contribution is 7.3% towards insurance. So if my premium is lesser in private insurance compared to public insurance, will there be an increase in my netto?

@PerFinEx Год назад

Generally speaking, if your private health insurance premium is smaller than your public health insurance premium, your net income will increase.

@vinodpatney28 Год назад

@@PerFinEx thanks a ton.

@carmenmelvyn 2 года назад

I , English,with my wife, German, are both retired but moving to Germany end of March to live near elderly relatives. Can we take Private health Insurance or Public or must we take public health insurance. Obviously we have no employer so do we have to pay 100% of the costs.

@PerFinEx 2 года назад

Health insurance in Germany has very strict rules. In your case it not just depends on your financial situation, it also depends on how you have been insured prior to coming to Germany.

@carmenmelvyn 2 года назад

@@PerFinEx Thanks for the reply. We currently live in Liechtenstein where all Health Insurance is Private. But when we move to Germany BOTH as Pensioners can we go either Public or Private or do we have no choice. If we go Public do we have to pay 100% (not half) as we have no employer?

@PerFinEx 2 года назад

It is probably best if you reach out proactively to one of the German public health insurances before coming to Germany to figure everything out. Getting into private health insurance might be next to impossible as a retired person when you have never been insured in the German healthcare system before.

@renzokukengame1684 2 года назад

Halo bro.kanst du sagen welche ist beste private versicherung in raum stuttgart.ich bin 6 jahre in stuttgart und von anfang ich und frau sind in AOK.

@PerFinEx 2 года назад

Die beste private Krankenversicherung hängt von vielen Faktoren ab (Alter, gewünscht Leistung, medizinische Vorgeschichte, etc). Gerne unter perfinex.de/meeting einen kostenfreien Termin buchen und wir helfen die beste private Krankenversicherung am deutschen Markt zu finden.

@amolkoneri6844 Год назад

Why is that only positive sides are covered in these videos. I agree with the savings, But is insurance really about savings or getting a good health care ? 1. Your video focuses majorly on the reimbursement, but also you don't cover how much you get net reimbursement after taxed. 2. Private insurances are only for working employees or anyone earning more than 64000 euros approx., but Public insurance covers all dependents whereas i don't yet know how do private insurances deal with the children insurances which may later end up paying more than public. Whenever I talk insurance agencies, they don't tell the hidden flaws of private health insurance and you should be actually bringing them out in this video. So I wish you justified your video by discussing the Pros and Cons, and not only the Pros. Thank you.

@anbitess 3 года назад

I got private health insurance from TK (only basic) at 253 euros

@PerFinEx 3 года назад

Private health insurance from TK? How does that work? TK is a public health insurance.

@anbitess 3 года назад

@@PerFinEx My bad, it's from feather

@newearthintegration4726 3 года назад

Thank you for the useful videos, I wonder if you can make more videos about Crypto tax and trading. thank you

@PerFinEx 3 года назад

Sure, we'll put it on the list.

@newearthintegration4726 3 года назад

@@PerFinEx thank you very much, so many people will benefit from that as there are huge numbers of expat investing in crypto.

@newearthintegration4726 3 года назад

@@PerFinEx and there is nothing in English about that!

@ZeeshanHaider-ij8xh Год назад

if you have family and kids, good luck with private insurance premiums

@PerFinEx Год назад

It depends on the job situation of the family and the exact private health insurance plan. We work with a lot of families that are happier in the private health insurance than they have ever been in the public health insurance.

@tariqbahoussain1442 2 года назад

Thank god I live in UK 🇬🇧 u guys can quibble about how much is this n that blah blah!

@sivakovuri 2 года назад

Amazing video, kudos to you. I would like to appy to private insurance asap.

@PerFinEx 2 года назад

Thank you very much. You can book a free meeting right here & we will help you find the best private health insurance for your individual situation: perfinex.de/meeting