Your health insurance fund: 1.1 billion euros in losses due to risky real estate deals
The Federal Office for Social Security estimates the potential damage caused by risky real estate transactions at nationwide health insurance funds to be 1.1 billion euros. The figure comes from the Federal Government's response to a minor interpellation by the Green Party. This is the first time the government has cited a potential amount of damage.
Specifically, twelve health insurance funds have invested around 900 million euros in promissory note loans, and eleven health insurance funds have invested a further 200 million euros in bearer bonds. These investments are considered non-performing. This means they are significantly missing their expected returns or, in the worst-case scenario, could default entirely. Federal and state authorities are currently investigating how these bad investments could have occurred.
In principle, every person with statutory health insurance is affected, as the invested money comes from contributions. Around nine out of ten people in Germany have statutory health insurance, including all employees from abroad who work here and are subject to social security contributions. However, this figure does not imply an immediate jump in contributions. It quantifies a risk, not a loss that has already been incurred.
What this means for you: Your benefit entitlements do not change as a result of this report. You do not need to apply for anything or provide any documentation. If you want to know whether your own health insurance fund is affected, you can check its annual report and the relevant supervisory authority. Nationwide funds are supervised by the Federal Office for Social Security, while regionally active funds are supervised by the respective state authority. Keep an eye out for announcements regarding the supplementary contribution, which is set anew each year, over the coming months. That is where any permanent financial burden would first become apparent.