PKV association sees no losses


The PKV association sees no losses: As reported last weekend, 10 out of 46 private health insurance providers have made losses due to the financial crisis, according to press releases. For this reason, the private health insurance providers would have to raise their insurance premiums. The PKV Association is resisting such a presumption that the members would not have to adjust to any increase in contributions.

(10/25/2010) As the chairman of the PKV association chairman Volker Leienbach explained, private patients would not have to adjust to premium increases due to the financial crisis. Leienbach told the newspaper “Ruhr Nachrichten” on Monday that private health insurance companies had achieved an interest rate of 4.2 percent last year. Accordingly, there would be “no problem at all” to generate the interest rate of 3.5 percent. In addition, there are “no signs” that several insurance companies had problems in 2010. However, the PKV chief admitted that there is not always a medical justification for health services that doctors would bill patients for. The goal is now to save on medical fees, as Leienbach told the newspaper.

The head of the Association of Private Health Insurance (PKV), Volker Leienbach, commented on press reports about a planned lowering of the actuarial interest in the calculation regulation: "There are no considerations of the PKV association to lower the maximum calculation interest fixed in the calculation regulation. We also have no indications that the responsible Federal Financial Supervisory Authority (BaFin) would intend to lower the actuarial interest rate in the calculation regulation ".

The newspaper “Finacial Times Deutschland” reported on Friday that 10 private health insurance companies had financial problems and that, due to the global financial crisis, higher insurance premiums could possibly arise for all people insured with private health insurance. Low interest rates in the markets would have burdened the balance sheets of some private health insurance companies.

The background of the reporting is the interest formation of the retirement provisions. In order for the insurance cover to remain affordable even in old age, the private health insurers must make provisions from part of the premium income. These provisions, which currently amount to EUR 144 billion, have to be paid interest at a certain minimum rate. The interest rate set by the Federal Ministry of Finance has been at 3.5 percent for over 50 years. According to press releases, at least 10 private health insurance providers would have had problems achieving this minimum rate this year. The reason for this is the currently extremely low interest rates in the markets, which has reached a low point due to the financial crisis. In order to secure the retirement provisions, the contributions would have to be increased. However, the PKV association does not share this view and points out that private health insurance companies achieved an average return of 4.2 percent last year. One thing is certain in any case, for the coming year 2011 the contributions will not be increased under any circumstances, since the calculations and PKV contribution rates have already been approved. (sb)

Also read:
PKV premium increases of up to eight percent?
Private health insurance premium increases
Federal government: Billions package for the PKV

Image: Margot Kessler / pixelio.de

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