Menzis books lower profit, sees growing pressure on healthcare costs

Overall insurance costs have fallen since 1995.

Health insurance company Menzis booked after-tax earnings of €45.3m in 2017, down slightly on the €46.9m posted in the previous year the company said on Tuesday. Premium income inched up to €6.1bn from €6bn in 2016.

But the company – one of the top four healthcare insurers in the Netherlands – hinted that premiums may have to increase in 2019, following similar statements by other healthcare insurers.

Menzis relied on €69m of its reserves to keep premiums last year at their 2016 level.

‘Despite the fact that we posted positive results, we saw more pressure on costs. We countered this partly by agreeing more long-term contracts with care providers,’ said  CFO Frank Janssen. Menzis signed up 38,000 new clients in 2017.

Menzies believes prevention and a healthy lifestyle are key to cost reduction, and has signed up 820,000 policyholders to its online health coach platform SamenGezond.

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