DSW to raise monthly health insurance premium by record €11.50 per month

Dutch insurance provider DSW will raise the cost of their basic health insurance package to 149 euros per month next year, equivalent to 1,788 euros per year. That reflects a record-high increase of 11.50 euros monthly, or 138 euros annually, an increase not seen since the current healthcare system started in 2006.

The company is traditionally the first in the Netherlands to reveal information about health insurance premiums for the upcoming year. For 2023, the company raised its basic premium by 9.75 euros, or 7.6 percent, though it also used cash reserves to keep the price down as best as possible.

That was not possible for 2024, and thus the cost of the premium will rise 8.4 percent next year. That is similar to what the Cabinet predicted on Prinsjesdag, the annual September date when the budget is released for the new year. Health insurance premiums have jumped by nearly 17 percent since the end of 2022.

The company said it was very concerned about whether healthcare in the Netherlands can remain affordable for everyone. Because of rising healthcare costs, wages, and inflation, DSW said it had no other choice but to implement a sharp increase.

"The course will have to change drastically to guarantee the accessibility of care in the future," DSW said in a statement. Politicians will have to step in to make sure that the healthcare insurance system continues to function.

DSW head Aad de Groot said he is concerned that more people will avoid getting treatment for medical issues because of rising costs. This will cause a rift in society, and put “even greater pressure on solidarity."

The company wants the Netherlands to focus more on keeping healthcare accessible for all, instead of focusing solely on how to fund the system, and it proposed several new ways of looking at the situation. Among the changes that need to be made is a better focus on prevention, DSW said.

The country will need to promote healthier living and more economic opportunity for the entire public to reduce reliance on healthcare services in the future. The insurer also pushed for more efficiency in handling contracts with healthcare providers,

DSW will scale back on marketing costs and no longer works with insurance comparison platforms. The money saved on advertising and commissions can better be spent on care, it said.