Cooperative Menzis publishes its 2023 annual accounts. We look back on a year in which we further fleshed out the Integrated Care Agreement (IZA) with healthcare providers and the social domain.
With joint regional plans we strengthen the care for – and well-being of – residents of our regions for the future. This is desperately needed given the challenges that lie ahead. Healthcare professionals are committed to good care every day. We greatly appreciate that. But healthcare is also under pressure due to the increasing demand for care, tightness on the labor market and rising healthcare costs. Together with healthcare providers in our core regions, we are committed to jointly making healthcare future-proof, so that it remains accessible and of high quality.
Competitive premium, more members
In 2023 we announced that the premium for 2024 will increase less than the government anticipated. The number of members of Coöperatie Menzis has increased slightly by more than 3,000. For the first time in years, the number of Menzis insured people has grown again, including in our core regions. Cooperative Menzis now has more than 1.85 million members and is satisfied with this result.
Positive financial result, losses recovered during COVID-19 period
Cooperative Menzis ended 2023 with a positive financial result of 250 million euros (2022: -107 million). The higher than expected result is mainly explained by a positive investment result (2023: rounded 100 million), incidental release of provisions from previous years (90 million) and supplementary insurance (46 million). The result on basic insurance for 2023 amounted to 14 million.
We use the financial result to replenish our reserves. Over the past 3 years, Coöperatie Menzis has achieved a cumulative negative result of 255 million euros. This was partly due to arrangements for healthcare providers during the COVID-19 pandemic and because we wanted the premium for members to increase less during that period. Cooperative Menzis will enter 2024 with a solvency of 162%. Dirk Jan Sloots, CFRO of Menzis: “We are happy with the financial result in 2023. We are a non-profit cooperative, bonuses or shareholders. Use of the result is therefore always in the interest of our members. This starts with maintaining a financial buffer that helps us to pay unexpected costs, such as additional healthcare costs, disappointing investment returns, a large influx of policyholders or in the event of a pandemic such as COVID-19. In addition, we can also use our results for what our policyholders find important; consider even better services, investments in healthcare or limiting the expected premium increase. In that context, it is of course also important that we continue to monitor our own costs.”
Solidarity, abolishing voluntary deductible
We call on the new cabinet to be formed to abolish the voluntary deductible because our healthcare system is based on solidarity, where all residents are entitled to the same care from the basic package. Whether they are sick or healthy. This is a valuable principle. Allowing an increased voluntary deductible in exchange for a premium discount affects solidarity. Healthy and financially strong people often opt for a higher voluntary deductible and benefit from lower premiums. Less well-off and chronically ill people with a mandatory deductible pay part of these costs. Sloots: “This no longer fits within our healthcare system. That is why we advocate the abolition of the voluntary deductible.”
Tags: Annual accounts solid results Menzis challenges healthcare increasing
