Switzerland Insurance

Mandatory insurance

Mandatory insurance in Switzerland includes: health, accident, car, and social insurance.

 

Health Insurance

Basic health insurance is compulsory for everyone living in Switzerland and is called “Krankenversicherung”. Foreigners must obtain health insurance within three months of arriving in Switzerland. Applications must also be made for the spouse and children, as they are not automatically insured.

Supplementary insurance called “Private Zusatzversicherung” offers the choice of hospital treatment in a half private (two-bedroom), semiprivate or fully private (single-room) and also includes coverage for additional treatment which is not covered in the basic treatment. Further, you can choose to pay a deductible (franchise) ranging from CHF 300 – 2’500 a year which reduces the monthly premium.

 

Accident insurance

All employees are covered by accident insurance which is provided by the employer by law. Should family members not be employed they must be covered separately through private insurance. This can be included as part of the health insurance.

 

Social insurance

Swiss social security is based on the 3-pillar system.

The first and second pillars are mandatory and to be organised by your employer unless you are selfemployed.

The first pillar represents the old age and survivor’s insurance (AHV) and disability insurance (IV). It is the basic component of the insurance system and is compulsory for all people who live and work in Switzerland.

The second pillar represents the occupational retirement scheme. It is compulsory for all those working in Switzerland with an annual income of at least CHF 21’150. The occupational retirement scheme is run by the retirement funds, which are all very differently organised.

The third pillar is a private and therefore voluntary pension plan. The contributions are tax deductible up to a specific amount. These figures vary slightly each year.