Why are expats generally richer?
Insurance for expats
How are expats insured in Germany?
For the first 36 months, “true expats” are usually insured through an international health insurance policy from their foreign employer. As soon as the social security obligation takes effect due to employment, you have the option - depending on the level of income - to take out private or statutory insurance. Freelancers or self-employed people can find it particularly and sometimes a little more hurdles, especially if they are coming from non-European countries.
What is covered by the employer and what is not?
Most of the expats have found a job in Germany and the employer then registers this subject to social security contributions. If the expat is employed here subject to social security contributions, he will benefit from the same social benefits as a person who has lived here for many years. Thus, these Kraftgesetz receive basic coverage in health and long-term care insurance, but also in unemployment and German pension insurance. Watch out! In the area of DRV and unemployment insurance, there is a waiting period of up to 60 months.
Statutory or private health insurance for expats?
After employment that is subject to social insurance, the question arises whether private or statutory, depending on income. That depends on many factors in the expat's environment. A detailed record of desires, expectations, income and plans is required here. Such advice is by no means plug 'n play. After all, it's about his money, his health, and his plans.
Private provision for expats
A private pension is very important: If an expat has paid mandatory contributions to the statutory pension insurance for less than 60 months, he has not completed the waiting period and will not acquire any pension rights despite the many employer and employee contributions. There are constellations here that the expat receives the contributions to the DRV reimbursed upon request. The DRV pension offices usually support him in this.
Expats should avoid these mistakes when looking for security abroad
Many expats believe that they can best clarify their coverage once they have arrived in Germany. However, this is not the case! It is particularly important to discuss the foreign project with a qualified insurance broker in advance. Because the expats who coordinate something like this in advance have significantly fewer hurdles on the way to settling down here in Germany.
It is therefore advisable to approach an independent insurance broker early on and to clarify the most important questions in advance via video advice in order to then purposefully initiate the best possible solution as soon as you arrive in Germany.
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