The financial market supervisory authority has ordered the health insurer CSS to refund excessive premiums of over CHF 129 million to insured persons. The case shows ambiguities and deficiencies in connection with basic and supplementary insurance.
CSS has been targeted by Finma.
CSS is a heavyweight among Swiss health insurance companies. It is the market leader in basic insurance and insures around 1.5 million people. Their low premiums play an important role here: as recently as the beginning of August, a study by a management consultancy showed that the health insurer was in first place for basic insurance in half of 42 premium regions in Switzerland. In view of the impending “premium shock” in the health insurance companies in the fall, this was the best advertising.