When do I need YEL-insurance?

Once you have started entrepreneurial activities, you should take out YEL insurance when the insurance requirements are met. An entrepreneur must insure their activity within six months from the starting date of the insurance obligation in order to avoid an increase for neglect.

 

YEL insurance must be taken out when all the above-mentioned conditions are met. The start date of the insurance is usually the day when you have grossed more than 750.86 euros per month for the first time and the operation has lasted at this level for more than four months.

 

The entrepreneur has six months to take out YEL insurance from the date of commencement of the insurance obligation. That is, in other words, from the day when you first received more than 750.86 euros gross salary per month. If you take out the insurance after more than six months, you will receive a default increase on top of the normal YEL payment.

 

Example

 

If you find out that you are obliged to take out YEL insurance and it has been more than half a year since you started your business (so you have invoiced more than 750.86 euros per month for more than six months), you will receive a default increase, but you will also have to pay more than half a year of YEL payments retroactively.

 

Other cases

 

If you are not a Finnish citizen, but live in Finland, you must take out YEL insurance when the conditions mentioned above are met.

 

If you are on an retirement pension, you do not need to take out YEL insurance. However, you can take out voluntary insurance if you wish.

 

Health insurance premium

 

Please note that the law on health insurance premiums changed at the beginning of 2020. Only users of our service who are required to have YEL insurance and users who have YEL insurance are charged a health insurance fee. You will receive a message when your YEL insurance obligation has been fulfilled or you have taken out YEL insurance, in which we tell you that the withholding of health insurance premiums will begin.

 

Where do I get YEL insurance?

 

You can take out YEL insurance through your own UKKO account, in which case UKKO.fi handles the matters related to your insurance with the pension insurance company Varma. Read more about our YEL insurance service here!