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Belgians rely on private insurance

Belgians rely on private insurance

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Belgium worried about the financing of health costs


With an economic shock like the one we are experiencing, many families have to choose to sacrifice certain expenditure items in order to balance the budget. The explosion in energy prices and inflation born in 2022 will therefore probably pressure more and more households to make choices.

Unfortunately, health, whose expenses are limited but significant, is sometimes part of the arbitration. According to the “DKV 2020” barometer carried out during the Covid crisis, 2 out of 3 Belgians already believed that their compulsory insurance was not sufficient to cover their healthcare costs.

This concern was particularly significant with respect to hospitalizations. About 50% of respondents feared being hospitalized because of the virus, and 62% believed their financial means would not allow them to pay for the necessary care. Similarly, a large majority two years ago, and thus before the drastic price increase, shared the concern of seeing the prices of care rise.

>> READ: Compare SCPIs in the market

Hospitalization, outpatient, dentist…

Dental care is one of the first care expenses that individuals forego. Around 70% of Belgians would consider postponing a dental appointment because of the budget. However, if the installation of a crown can sometimes wait a little, certain pathologies require quick handling and appropriate care.

Faced with these difficulties, health insurance becomes a central issue in most families. Insurance underwritten by companies provides an answer here, and some employers even use the benefits they provide to attract new talent or retain their employees. Today, more than one in two wage earners would already be covered by hospitalization insurance.

Still, an increasing number of treatments are being reimbursed less and less, such as out-of-hospital healthcare and dental costs. Doctor’s consultations, physiotherapy, the need for glasses or hearing aids… Expenses can sometimes quickly become heavy and weigh on the family budget. More and more companies are thus offering comprehensive health cover at their own expense, including costs for hospitalization, consultation or outpatient treatment and dental insurance. The number of collective agreements has thus increased in recent years, especially after the Covid-19 crisis.

Self-employed people can also claim better health coverage by taking out mutual insurance to cover their expenses. People nearing the end of their careers also find an answer here: while health care costs tend to increase with age, they can quickly find themselves without effective coverage to cover their health costs. Today, the market has many contracts that offer to adapt to specific needs and budgets.

>> READ: Mutual health insurance: termination is now possible at any time


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