Choosing Between Premium Joint Insurance and Company Insurance for Retirement: What You Need to Know

Premium joint insurance or company insurance: which contract to choose for retirement?

Additional health insurance represents a significant portion of the household budget, especially when you are a senior. The number of grants increases with age, mainly because of increasing health needs. It’s tempting to keep your company’s insurance if you were an employee. The rules allow it, but this option is often expensive and very convenient compared to a mutual insurance company that specializes in seniors. Definitions. Keep your company’s mutual insurance when you retire According to Evin’s law of 1989 which established the possibility of mutual health rights, it is possible for employees who retire to remain covered by their company’s mutual insurance. This system also applies to the welfare plan that the company may have for its employees. Persons dismissed (except for serious misconduct) or placed on disability are entitled to the benefit of portability. Portability of mutual company insurance To qualify as a retiree, you must have subscribed to mutual insurance until the end of your employment contract. You must send a written request to the supporting health organization within 6 months after the end of the employment contract. The organization is obliged to accept and cannot impose a medical questionnaire or waiting period. You are then covered immediately, but your change of status, from employee to retiree, has several consequences: Both spouses must keep the guarantees, even if your position has changed. The mutual insurance company may refuse to cover your beneficiaries (dependent children, spouse). You accept the entire contribution, which until now was covered by at least 50% by your employer. In the first year, the mutual insurance contribution is the same as the employee insurance (employee contribution + employer contribution). In the second year, the consortium can increase its rates by 25%. In the third year, prices can increase by 50% and from the fourth year, prices are free. Inadequate guarantees The pricing aspect is key, as older people usually lose income when they retire. However, this population segment is the one that pays the most for the joint health coverage. Second, the guarantees remain the same without taking into account the changing health needs. If there was a maternity guarantee and orthodontic benefits for children in the general contract, they have been kept despite being useless. All these reasons argue for an individual formula that is freely chosen in terms of real needs and the budget we can spend. Premium insurance tailored to their needs The joint health insurance market is fragmented. For each insured person profile, a mutual insurance company is adapted according to their age group and needs. Company mutual insurance provides a level of benefits chosen by the employer and intended to cover all employees, regardless of each individual’s assignments. Individual packages are designed to meet the needs of the customers concerned, allowing the level of each guarantee to be adjusted. Competitive bidding is key to finding the right deal that meets your protection and budget requirements. Compare offers online through a unique, simple, fast and free tool that gives you access to multiple mutual health insurance quotes. Between two contracts with identical guarantees, the price difference can be up to €300 per year. The Essential Warranties of Premium Comprehensive Insurance Explore your health needs before you start searching for premium insurance. Special guarantees are necessary after the age of 55: hospital: beyond payment​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​ pharmacology, imaging and medical analyzes of hearing aids. All these factors are compatible with large out-of-pocket costs, because reimbursement from Health Insurance is only partial or even minimal. Also think about additional costs if you often talk to doctors who work in category 2 (free rates). A mutual fund that pays back 250% of the BRSS covers 2.5 times the Social Security repayment base, which is to say the agreed rate. At 100% of the BRSS, you will only be reimbursed for the co-payment, ie the difference between the applicable rate and the general system cover. The additional services of high mutual insurance Depending on your needs and your budget, you can add optional guarantees: alternative treatment: pedicure, osteopath, acupuncturist, chiropractor, naturopath, etc. several sessions a year. Be careful to determine which treatments are suitable for you to treat. prevention package: vaccinations, screenings, health check-up Reactive eye surgery: Social Security does not reimburse anything. The most generous mutual insurance companies offer a package of over €500 per eye. dental implants: not reimbursed by Social Security because they are considered unspecified care, they are partially covered by the mutual insurance company when a detailed estimate is made display thermal treatments: co-payment for prescribed treatments, with or without an additional package up to €600 per year. Beyond the reimbursement level, be attentive to mutual high insurance support services: reimbursement period, care network, help in case of hospitalization or transfer at home (housekeeper, pet care , etc.), 24-hour phone support, third-party payment, legal support, help in finding a health center. The cost of mutual insurance is high According to calculations by the UFC-Que Choisir association, the increase in mutual health premiums in 2024 is historic: it will increase between +10% and +30% depending on the groups and the type of contract , by the old people. those suffering from the highest inflation. Although the problems of accessing premium insurance are currently being debated in the Senate, the only option is to introduce competition. Depending on the guarantee level, a retired person must pay an average of €90 per month. Prices start at around €30 per month for a basic plan and can go up to €200/month for high coverage with consolidation of all guarantees. The older you are, the higher the contribution. Always choose a responsible mutual insurance company, because it presents a minimum regulated care basket and implements a 100% health reform that eliminates out-of-pocket costs for prescription glasses, dental prostheses (crowns , bridges, dentures, except implants) and hearing aids. And if your financial means are small, you are undoubtedly eligible for Supplementary Health Solidarity (CSS): this special system allows you to have mutual insurance free of charge or with a minimal flat contribution of no more maximum of €30 per month and per person. CSS is a quality company that meets responsible contract specifications. Last important information: you can cancel your insurance at any time after one year of guarantee. You are no longer bound by the intelligent renewal if you miss the end date of the current contract. You have the opportunity to shop around the market and make sure your insurance is still competitive and tailored to your health needs.

Cheers to each other
24/04/2024