Supplementary health insurance: towards a new rate increase in France in 2026

Renewals 2026 – First signals from the French market

I’ve had many conversations lately — with our clients, with Global Benefits Managers, with teams across geographies — and one thing is always clear: renewal season is a key moment.

It’s when budgets are finalized, strategies are reviewed, and employer promises turn into actual benefits.

At KMH Benefits, we’ve made it a point to anticipate these cycles as early as possible. Our summer meetings with insurers are underway, and the early signals are consistent: health and disability costs are going up — and it’s not stopping anytime soon.

Supplementary health insurance: Soft words, firm pricing

Insurers are being diplomatic, but behind the scenes, pricing grids are being adjusted — and the trend is upwards. Health claims have continued to rise in 2025 across most categories (especially pharmacy, surgery, and outpatient care), and everyone is bracing for additional charges from public authorities in 2026.

We’re hearing average increases around 5 to 6%, before any adjustments linked to the PMSS, that famous French social ceiling.

UPDATE [September 2025]: AXA CONFIRMS UPWARD TREND

AXA France has now announced its reference rates for 2026 renewals:

+4.5% in group health, excluding any PMSS adjustment

+5% in group disability (prévoyance)

These figures are in line with market estimates and reflect pressure from rising medical tariffs, increased use of care (notably in dental, optical and mental health), and higher long-term absence rates in disability — especially following the IJSS cost shift to private insurers.

These rates are not final for every client, and AXA — like other major insurers — acknowledges that contract structure and loss ratios will impact the final terms. That said, the message is consistent with what we’ve observed across the board this summer:

Pricing is tightening, even before regulatory or fiscal reforms are finalized.

UPDATE [September 2025]: POLITICAL UNCERTAINTY AND 2026 RENEWALS

Recent political events in France have introduced a new layer of uncertainty. The resignation of the Bayrou government and ongoing fiscal tensions have raised questions around the upcoming 2026 Social Security budget law (LFSS), which could reshape public coverage and impact employer-sponsored plans.

While insurers remain cautious in their communications, the macroeconomic context is clear:

France’s public deficit remains high.

New reforms may be introduced to reduce Social Security spending, especially in areas like daily allowances (IJSS) or reimbursement levels in health.

Political uncertainty may delay or modify decisions — but the underlying pressure on the system is not going away.

In this context, the 2026 renewal season will require not just rate negotiations, but also close attention to how public-private cost sharing may evolve.

We’ll continue to monitor updates from policymakers and carriers as the LFSS 2026 takes shape in the coming weeks.

PMSS, PASS… and why we care

The PMSS (Plafond Mensuel de la Sécurité Sociale) and the PASS (its annual version) are national benchmarks updated every year based on wage growth. They impact how much Social Security pays — and, by extension, how much private insurers have to top up.

Most group health and disability contracts are structured as multiples of the PMSS. So when it rises, everything else does too: claims, premiums, employer contributions.

Here’s how the PASS has evolved over the past 10 years:

• 2015 – €38,040
• 2016 – €38,616
• 2017 – €39,228
• 2018 – €39,732
• 2019 – €40,524
• 2020 – €41,136
• 2021 – €41,136
• 2022 – €41,136
• 2023 – €43,992
• 2024 – €46,368
• 2025 – €47,100

That’s nearly +25% in a decade — a slow but steady driver of increased costs across the board.