PKV Premium Stability: Health Insurers Score High in 2023 Ratings
If you're considering private health insurance (PKV) in Germany, understanding premium stability is crucial for long-term financial planning. The latest 2023 "M&M Rating PKV Premium Stability" from the analysis firm Morgen & Morgen offers valuable insights. This year, a record 288 insurance tariffs received the top "Five Star" rating for exceptional contribution stability, a significant increase from 233 top-rated tariffs last year. However, the number of below-average tariffs has also slightly increased, highlighting the importance of careful plan selection.
Market Trends: Stable Premiums at a Low Level
Morgen & Morgen examined 1,031 policies from 27 different providers. The analysis reveals a positive trend: the average premium adjustments for new business have marginally decreased from 2.07% to 2.04% compared to the previous year. This confirms a stabilizing pattern following the "premium reset" after the introduction of the new unisex tariff generation in 2012.
"The rising trend in new business premiums is currently settling at a low level," explains Thorsten Bohrmann, Senior Insurance Analyst at Morgen & Morgen. He notes that while this younger tariff generation is slowly aging—which naturally leads to higher premium adjustments over time—the current adjustments are primarily driven by medical advancements and the aging of the existing policyholder pool, not by the COVID-19 pandemic.
Rating Distribution: More Top Performers, But Also More Weak Ones
The 2023 rating presents a nuanced picture. On one hand, the market offers many excellent options:
- 288 Tariffs (27.9%) received the top "Five Star" rating.
- 236 Tariffs earned a "Very Good" four-star rating.
- Combined, 50.8% of all offers were classified as "excellent" or "very good."
On the other hand, the proportion of lower-rated plans has grown:
- 25.1% of tariffs received a below-average rating (one or two stars), up from 23.3% last year.
- 98 tariffs were rated "very weak" (one star), compared to 92 in 2022.
This polarization underscores why consulting a knowledgeable health insurance advisor is essential to navigate the market and avoid plans with poor long-term cost stability.
Understanding the Rating Methodology
To ensure relevance, Morgen & Morgen's rating focused on tariffs that actively sold new policies between 2018 and 2023 and allowed entry ages between 21 and 50. The analysis evaluated premium adjustments over the last five years, calculating an average increase and its standard deviation. A tariff scores high on premium stability (Beitragsstabilität) when both the average increase and the fluctuation of increases are low. This method provides a reliable indicator of predictable long-term costs, a critical factor when choosing any private insurance product.
Key Takeaways for Your Insurance Planning
- Stability is Achievable: A significant portion of the PKV market offers excellent premium stability, providing predictability for your household budget.
- Due Diligence is Key: The increase in poorly rated plans means consumers must research thoroughly or seek expert insurance consulting to avoid costly surprises.
- Look Beyond the Premium: While stability is vital, also consider coverage breadth, service quality, and the insurer's overall reputation. A stable but overly restrictive plan may not serve your best health insurance needs.
Independent ratings are a powerful tool, but they are just one piece of the puzzle. For a holistic view tailored to your personal health profile and financial situation, professional advice is irreplaceable. Making an informed choice today can secure both your health and your financial well-being for decades to come.