In the latest edition of its consumer information series “Let’s talk about money”, the Austrian Financial Market Authority (FMA) informs about voluntary private health insurance. In particular, it explains which benefits may be insured for in such a policy, as well as the obligations arising from such an insurance policy, as well as how the premium amount and modifications to the premium are defined.
The most frequent enquiries to the FMA Consumer Information team relate to changes in premiums. As with any contract that you conclude, the FMA advises to carefully check the insurance conditions of private health insurance as well as to compare different offers. It is particularly important to make a well thought out decision, as in the event of changing to another insurance undertaking any benefits that were secured in terms of premiums for signing up while young and in good health are forfeited.
Generally health insurance is concluded to the duration of the policyholder’s life, except for temporary health insurance policies, restricted to periods of less than one year.
This edition of “Let’s talk about money” can be found at:
https://redenwiruebergeld.fma.gv.at/en/private-health-insurance/
Journalists may address further enquiries to:
Klaus Grubelnik (FMA Media Spokesperson)
+43 (0)676 88 249 516
+43 (0)1 249 59 – 6006