More NL residents opting for higher healthcare deductible to keep premium low

With health insurance premiums increasing on top of everything else also becoming more expensive, more Netherlands residents are opting for higher healthcare deductibles in exchange for a discount on their premiums. But that also means that, with a little bad luck, you’ll have to cough up a higher amount if you end up in the hospital, for example, experts warn, AD reports.

Everyone in the Netherlands with health insurance has to pay the healthcare deductible of 385 euros out of their own pocket. But they have the option to increase the compulsory deductible by up to 500 euros to 885 euros. In exchange, their premiums decrease by up to 300 euros annually, according to the newspaper.

Healthcare comparison service Independer compiled figures of the first people switching health insurers this year. It noticed that thousands of people opt for the maximum healthcare deductible of 885 euros. So far this year, 38.7 percent opted for the maximum deductible, compared to 29.5 percent this time last year and 25 percent two years ago.

Comparison site Geld.nl confirmed this image. The number of switchers opting for a higher deductible increased from 30 percent at this time last year to 37 percent now, with the majority opting for the maximum amount.

“Healthcare premiums are going up considerably, and people are looking for ways to save on that,” healthcare expert Bas Knopperts said to AD. He advises policyholders to set aside the money they “saved” by increasing their deductible, though that would defeat the point.

The Patient Federation also warned that increasing the deductible can be risky. “You can save money, but it is also quite possible that you will have to cough up that money at some point. So think about it carefully.”

The interest group for patients worries that people will only look at the lowest price when switching to a different health insurance policy this year instead of considering the coverage or conditions.