Well the private insurance is indeed a problem if the insured cohort gets old, i.e., all the clients that signed up for a certain insurance product in around th

Well the private insurance is indeed a problem if the insured cohort gets old, i.e., all the clients that signed up for a certain insurance product in around the same time frame, and when it is cheapest: mostly at age 25-40. After a while, the clients get older and the product becomes more expensive for the clients, and won’t attract new clients anymore. Then, all remaining clients become old „together“, hence the old aged themselves need to share ever raising costs.