Krankentagegeld, literally translated as “sick day money,” is a financial benefit in Germany designed to support individuals who are unable to work due to illness.
What is “Krankentagegeld”?
Krankentagegeld is a form of financial support provided to individuals in Germany who are unable to work due to illness. It serves as a compensation for lost income during the period of illness. For employees, the employer typically pays wages for the first six weeks of illness. After this period, the health insurance pays the Krankentagegeld if the individual is still unable to work. Self-employed individuals can also receive Krankentagegeld, but the specifics depend on their insurance policy[1][2][3].
More information about “Krankentagegeld”
The amount of Krankentagegeld one can receive is usually a percentage of the individual’s net income, ensuring that they can maintain their standard of living despite being unable to earn an income due to illness. The payments are tax-free and do not need to be declared in the tax return. There are specific caps and conditions under which Krankentagegeld is paid, and these can vary depending on the individual’s insurance policy and their employment status[1][2][3].
Related to “Krankentagegeld”
Here are some additional terms that are related to Krankentagegeld:
- Gesetzliche KrankenversicherungThe "gesetzliche Krankenversicherung" translates to "statutory health insurance" in English. It is a fundamental part of Germany's healthcare system, providing... More (GKV): The statutory health insurance in Germany, which provides coverage for a wide range of health-related services, including the payment of Krankentagegeld under certain conditions[4].
- Private KrankenversicherungPrivate Krankenversicherung (PKV) translates to "private health insurance" in English. It is an alternative to the statutory or public health... More (PKV): Private health insurance in Germany, which can offer more comprehensive coverage and higher Krankentagegeld rates compared to the statutory health insurance[9].
- Lohnfortzahlung im Krankheitsfall: The continued payment of wages by the employer for the first six weeks of an employee’s illness before Krankentagegeld kicks in[1][4].
Krankentagegeld is an essential part of Germany’s social security system, providing financial stability to individuals when they are unable to work due to illness.