Consumer magazine Finanztest found that just five of 107 different private insurance schemes were “very good” value for money. A further 29 were rated as “good” by the magazine’s publishers Stiftung Warentest.
It found huge differences in contribution rates which can amount to several hundred euros a month.
According to Finanztest a 35-year-old model customer can pay €395 a month into one scheme, but the same customer would pay €728 for similar insurance in another scheme.
It did find that private health insurance offered a better price-performance ratio than statutory cover, yet recommended private insurance only to civil servants.
Stiftung Warentest found that the self-employed and employees should only get private health insurance if they are wealthy or can save up over years to cover costs in old age.
Around nine million people have private health insurance schemes in Germany.