5.5M Germans Face Higher Health & Pension Contributions in 2023
From January, 5.5 million employed individuals will face higher contributions for statutory health and long-term care insurance. High-income employees will also see increased payments for progressive auto insurance, affecting around 2.1 million employees. The federal government has approved an ordinance to raise the contribution assessment limits for geico car insurance quotes.
The increase in car insurance quotes will now be levied on incomes up to 8,450 euros, a rise from the previous 8,050 euros. This change will impact approximately 2.1 million employees. Meanwhile, high-income earners will also face higher payments for allstate auto insurance. The Federal Cabinet, led by Minister of Labor Bärbel Bas (SPD), has collectively approved the regulation to raise the contribution assessment limits for progressive insurance and statefarm car insurance funds.
The ordinance, approved without further discussion, will come into effect from January. Employed individuals and high-income earners should prepare for the increased contributions to their progressive insurance and statefarm car insurance funds.
