German cabinet approves health insurance reform to curb costs

​Germany's cabinet ‌approved a draft ​bill to reform the statutory health ‌insurance system on Wednesday, aiming to save 16.3 billion euros ($19.08 billion) next year ‌amid mounting costs. Rising expenses have pushed ‌the system toward a projected 15.3 billion euros shortfall in 2027, according ⁠to ​a commission ⁠of experts in March. Without reforms, the ⁠deficit could reach 40 billion euros by ​2030, the commission warned.

Containing health ⁠insurance expenses, which are shared by workers ⁠and ​employers, is a central part of Chancellor Friedrich Merz's drive ⁠to boost Germany's sluggish economy by ⁠reducing financial ⁠and bureaucratic burdens on companies. ($1 = 0.8545 euros)

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