Swiss health insurance premiums likely to rise 4.5% to 5% in 2027

Swiss policyholders are likely to face another sharp jump in health insurance premiums in 2027, with bonus.ch projecting an average increase of 4.5% to 5% and some individual bills rising by as much as 20%. The outlook reflects still-rising health costs, uneven insurer finances and wide canton-to-canton differences.

Why it matters: - Swiss households could see another year of higher mandatory health insurance costs in 2027, after premiums already rose an average 4.4% in 2026. - The projected increase would add pressure to budgets even as insurer reserves have recovered. - Some policyholders could face much steeper changes than the national average, depending on insurer, canton, age, deductible and coverage model.

What happened: - bonus.ch projects an average premium increase of 4.5% to 5% for 2027 based on health-cost trends, insurer finances and an expected catch-up effect. - In the worst case, some individual premiums could rise by up to 20%. - Larger adjustments above 10% are possible for certain insurers or tariff categories. - In theory, some regional or model-based repricing could reach 50%, but bonus.ch does not view those cases as representative of the broader 2027 outlook. - The study was published on 8 September 2026 in Lausanne. - The full study on 2027 health insurance premiums and a premium comparison tool are available online.

The details: - The main cost driver remains spending covered by compulsory health insurance. - In the second quarter of 2026, compulsory health insurance costs rose 0.4% year over year, after a 2.9% increase in the first quarter. - Over the past 12 months, each insured person generated an average of CHF 4,834 in OKP-covered costs, CHF 21 more than a year earlier. - bonus.ch cautions that the low second-quarter rise is distorted by delays tied to the rollout of the new flat-rate tariff system for outpatient care. - Outpatient costs booked in that area fell 4% in the first quarter and 16% in the second quarter of 2026 versus the prior year. - The timing of later bookings remains unclear, so the 0.4% quarterly increase is not a reliable sign of a lasting slowdown. - Home care services (SPITEX) posted the strongest growth, at +14% in the first quarter and +15% in the second quarter of 2026. - Costs for psychologists and psychotherapists rose 10% and 11%. - Physiotherapy costs increased 7% in both quarters. - Outpatient doctors excluding labs rose 6% then 7%. - Laboratory costs rose 6% in both quarters. - Pharmacies rose 5% in both quarters. - Medical-social institutions rose 3% then 4%. - Hospital stays rose 3% then 2%. - Prescription drugs from doctors rose 1% in the first quarter and fell 1% in the second. - Laboratory services in doctors’ offices stayed nearly flat.

Between the lines: - The premium outlook is being shaped by a mismatch between temporary quarterly cost figures and the broader annual trend. - The new outpatient tariff system appears to be delaying some billing, which could later push reported costs higher. - Geographic variation is widening the gap between what the national average suggests and what many insured people actually pay. - Reserve growth helps stabilize the system, but it does not offset sustained annual cost increases of around 4% to 5%. - The debate over reserve drawdowns shows a policy tradeoff: lower premiums now can mean less buffer later if costs jump again.

What's next: - KOF at ETH Zurich expects per-insured costs to rise 4.5% in 2026 and another 4.0% in 2027, on behalf of the Federal Office of Public Health. - That would lift per-insured costs from CHF 4,968 in 2025 to CHF 5,191 in 2026 and nearly CHF 5,400 in 2027. - The cumulative increase from 2023 to 2027 would be almost CHF 900 per person. - Insurers expect 2026 costs to rise by a little more than 5%. - The Federal Office of Public Health says premium setting for 2027 should also reflect a slight catch-up effect because the projected 2026 combined ratio is close to 101%. - Swiss health insurers ended 2025 with a combined surplus of nearly CHF 569 million, which lifted reserves to CHF 8.6 billion. - Reserve ratios still vary sharply by insurer, from 53% at Visana and 39% at Agrisano to 9% at Assura and Mutuel Assurance and 5% at Philos. - Several insurers have also seen reserves fall sharply since 2020, including CSS, Helsana, CONCORDIA and Vivao Sympany.

The bottom line: - Swiss premiums are still headed up in 2027, and the combination of rising care costs, billing delays and uneven insurer reserves means many households could pay more than the national average suggests.