Introduction
Swiss health care is one of the best in the world. Swiss medical care is of the highest quality, and the prices scale with the quality of services and standard of living. Although this is the case, insurance providers have enabled international students to get the needed medical services and healthcare for a reasonable amount.
Understanding the costs of Swiss student insurance is essential for every international student studying in Switzerland. It’s not just mandatory; it’s a safeguard for your well-being and finances during your educational journey in a foreign land. This guide will go into the details of student insurance costs, why it’s compulsory, and how to make informed decisions to ensure you have the right coverage.
Firstly, let’s ensure you know how the insurance in Switzerland works regarding the payment. Swiss health insurance companies offer different plans, but all plans consist of premiums and franchise and participation supplementary of 10% with a maximum of CHF 700 per year..
Premium is a regular payment you send to the insurance company to maintain your insurance. Premiums can be paid monthly, quarterly, semi-annually or annually, depending on the terms of your policy.
Franchise is the amount you will pay directly to the hospital, dental service, doctor services, or any medical institution where you receive treatment. Most companies offer plans that require CHF 300, CHF 500, CHF 1500, or CHF 2500 franchises + 10% of participation. The most popular plan with international students is the CHF 100 franchise.
Exceptionally, Evasan offers the CHF 0 Franchise plan. Which means you are required only to pay a monthly premium. The plan is tailored to international students because having a, for example, CHF 1500 payment in the hospital could create serious expenditures in the annual/monthly budget. Even though everything is free after that, a few hundred Swiss Francs is still a lot of money.
In the later part of this blog, we will dive deeper into the pricing and costs for you as a student and the offers of different insurance policy providers. Stay tuned to find out all the needed information.
Protecting Yourself from High Medical Bills
As an international student, you might be living your best life, but you can never predict when health issues may occur. Swiss medical care is known for its world-class health system, but benefits come at a certain price. Medical bills can escalate quickly without the correct insurance and can apply a significant financial burden. Student insurance ensures you can access healthcare without worrying about the costs.
If you are covered with an insurance plan, even a basic one, it could save you a lot of money in the case of an emergency. Aside from protecting you against costs, insurance is also required for your residence permit to stay in the country.
Anyone staying in Switzerland for more than 3 months must be insured and must prove that they are insured. Switzerland will give a deadline of 3 months to obtain insurance. If it is not obtained even after those 3 months, you will be given one, but with higher premiums.
Meeting University/High School/State Requirements
Besides personal protection, proper insurance coverage is mandatory for international students without an exemption. This includes emergency, hospitalization, and medical assistance. It’s not just a formality; it includes legal consequences. Failing to meet these requirements can jeopardize your student status and lead to losing your residence permit. So, having the right insurance is wise and necessary to maintain your academic journey smoothly.
Not having an insurance policy within three months of coming to Switzerland is illegal. After that period you will receive an insurance plan from the country but at the domestic premium. This means you will pay the same as those who are residents in Switzerland, which could cost more than the student insurance plan for the year.
Factors Influencing the Cost of Student Insurance
Type of Coverage
The cost of student insurance can vary significantly based on your chosen coverage. Mandatory coverage will be less expensive but may only cover some of your needs. Supplementary plans provide a broader safety net but come at a higher cost. Evaluating your specific requirements and budget constraints will help you decide the correct type of coverage for you.
Duration of Coverage:
You can customize medical insurance plans when studying abroad to fit the duration of your study program. Most Swiss health insurance companies offer 3, 6, and 12-month plans for students to subscribe to when staying in Switzerland.
A short-term plan for a single semester will naturally cost less than a long-term one for your academic journey. It’s essential to align the duration of your insurance with your study plan to avoid overpaying for unnecessary coverage.
Premium Level
The premium level you choose determines the extent of coverage and the amount you pay regularly. Opting for a higher level means more services covered and higher monthly or annual costs. Balancing your premium level with your budget is essential to finding the right value between coverage and affordability.
Providing a precise figure for the average cost of student insurance in Switzerland would be challenging, as it varies greatly depending on the service that different people need. However, on average, international students can expect to pay anywhere from CHF 60 to CHF 450 monthly for the basic coverage depending on your deductible choice, according to this article written about the prices of insurance in Switzerland. Obtaining quotes from multiple insurance providers and comparing them to find the most cost-effective solution for your needs is the best solution.
Aside from the premium, there is a franchise in your health insurance plan. As mentioned above, a franchise is the amount you agree to pay out of pocket before your insurance policy begins to cover a particular claim.
For example, if you have a CHF 500 deductible on your student insurance policy and you break your arm causing CHF 2,000 in damage, you would pay the first CHF 500 and your insurance would cover the remaining CHF 1,500. The franchise lasts for one year and does not merge into the following. But with Evasan, and the CHF 0 plan, there are no upfront costs, and everything will be covered for you in case of an emergency, medical assistance, or hospitalization.
Conclusion
Understanding the costs associated with student health insurance is fundamental for international students in Switzerland. It protects you from high medical expenses and ensures you meet the legal requirements of your educational institution and the state.
By considering factors like the type of coverage, duration, demographic background, and premium level, you can make informed decisions to secure the right insurance at the best possible price. Don’t compromise on your well-being – invest in student insurance to enjoy a worry-free academic journey.
And remember that in Evasan, we have tailored our plans for the students. No other health insurance provider offers the CHF 0 franchise plan, which was made especially for the students to enjoy all their policy benefits without worrying about healthcare costs.
How can We help?
We are here to assist you in navigating the complex world of student insurance. On our website, you can read about the insurance providers and how Evasan compares to their plans and premiums.
How to Purchase International Student Health Insurance?
Purchasing international student health insurance is a straightforward process. Most companies offer online insurance by buying with your credit card. The process is without any contact aside from the form on the website. The application is on the website, and with a few steps, you will receive an insurance policy.
At Evasan, the process is as straightforward as possible, so with a credit card and 5 minutes, you can be insured for your stay. There is no need to come to the office, wait in lines, and file paperwork to finish the business. If you decide that the search is over you can fill out the form here.
It is important to mention that the student needs to sign the LAMal exemption form when getting a medical insurance plan.
Frequently Asked Questions (FAQ)
How Often Do I Have to Pay for Foreign Student Insurance?
International students can pay for insurance plans monthly, quarterly, or annually. The frequency of payments depends on your personal financial possibilities. If you know how long you will stay, tailoring the insurance for the most extended period is best.
With the strict Swiss laws regarding compulsory health insurance, aim to be covered for as long as possible. If you need any additional information, contact your health insurance provider and get all the required information.
What happens if I don’t Obtain Foreign Student Insurance in time?
Failure to obtain foreign student insurance in time can lead to severe consequences, including a potential loss of student status, legal penalties, and deportation. It’s essential to prioritize insurance compliance.
After three months of not having insurance, you will be assigned a health insurance plan by the country of Switzerland. It is much more expensive since it is made for the people who have residence and live off of a higher standard than international students.
This is why students are advised to get compulsory health insurance as soon as possible since Switzerland will become their country of residence for the foreseeable future.
Are There Any Hidden Costs in Student Insurance Plans?
While most reputable insurance providers are transparent about costs, reading the fine print is still essential. Be aware of any co-pays, or exclusions that may apply to your plan. You wouldn’t like any surprises on your credit card after getting a health treatment in Switzerland.
Contact the potential healthcare provider to check if there is any additional information that you need before subscribing to the plan. Exclusions are the factor that could catch you off-guard when getting health procedures. Ensure you get information about the health conditions, locations, medical care treatments, and types of damage that might apply to your health insurance policy.