Care for the elderly can be expensive. Not everyone knows exactly what to expect and how they are covered. And interest in supplementary insurance remains low, complain the insurers.
There is a lot of talk about long-term care insurance, but most of them don’t really know it. This applies above all to the scope of services. Many still underestimate the fact that accommodation in a retirement home can be very expensive for them despite having insurance.
This is shown by an online survey carried out by the opinion research institute Insa-Consulere in Erfurt among 2,052 people over the age of 18. It was commissioned by the Association of Private Health Insurance (PKV).
According to this, only 57% of those surveyed know that residents of nursing homes currently have to pay more than 2,000 euros out of their own pocket. 20 percent don’t know, the rest are unsure or provide no information. There are significant age differences. The younger people are, the less they know about this issue. Only 41 percent of 18 to 29 year olds are aware of the high cost burden.
It is no coincidence that private health insurers are commissioning such a survey. They sell additional long term care policies not only for people with statutory health insurance, but also for private patients. Because unlike health insurance, the scope of long-term care insurance benefits is the same for everyone. If you want more protection, you have to buy.
Only around 5% of the population benefited from supplementary long-term care insurance at the end of 2020
The private health insurance industry has therefore long hoped for increased sales. But the big boom did not materialize. At the end of 2020, the portfolio of private health funds had only 3.8 million supplementary long-term care insurance. This corresponds to a five percent share of the population. It is all the more surprising that 14% of the people questioned state that they have additional long-term care insurance with which the benefits of long-term care insurance are supplemented.
Disappointing result from a private health insurance perspective: There does not appear to be much change in the gloom of business in the near future. Only 5% intend to take out additional long-term care insurance in the near future, for 79% this is not a problem. The director of the PKV association, Florian Reuther, considers politics an obligation. “People’s willingness to take better care of their own care case has apparently not been strengthened by the latest care reforms,” he said. New initiatives will have to be launched during the next legislature.