Finances: Government plans 700 million euro bailout for care insurers
The financial situation of the nursing care insurance is tense. In order to plug holes in the short term, more money is to be provided this year.
The German Finance Ministry plans to provide an additional loan of up to 700 million euros to cover expected financial shortfalls in the country's nursing care insurance. This is in addition to the 3.2 billion euros already allocated in the budget for this year. The move comes as the number of people needing care has grown faster than expected, leading to higher-than-anticipated spending.
The finance ministry has asked the budget committee for approval for the extra expenditure, which is needed to cover a shortfall estimated for November. A deficit of 770 million euros was reported for the first half of the year.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
