Insurance of employees in Russia

Insurance of employees in Russia

• Medical Insurance principles of work - works if there is a disease or its recurrence - should not be used for preventive services • Insured – between the insurance company and the clinic - the insurance company seeks to reduce bills from clinics, and doctors

in clinics are eager to prescribe more diagnostic and treatment procedures

• Medical expertise - if there is no positive dynamics of treatment in the polyclinic, then

you should contact the insurance company for the organization of a consultation in a profile research institute

- if there are any arguable moments, involve an independent expert

Medical Insurance (VMI)


• Out-patient and polyclinic care - Basic option. pre-payed or network-based programs.

Cost is from 10 000 to 300 000 Rub. • Calling a doctor - Service on the basis of health facilities from the program or by the third parties.

Cost is from 1 000 to 3 000 Rub. • Dentistry - Service on the basis of health facilities from the program or specialized

networks. Cost is from 2 000 to 30 000 Rub. • Stationary admission(stationary) + ambulance - Emergency and planned ambulance. 4 levels of stationaries are from 3 000 to

25 000 Rub. Emergency is from 800 to 2000 Rub. • Additional options - Doctor in the office, prenatal care or childbirth, travel insurance, medical

assistance, vaccination, diabetes, fitness, deposit programs

Medical Insurance – options


• All risks and operations are paid in full - cardiovascular diseases,

oncological diseases, organ transplantation, orthopedic operations • Organization of treatment in European and American clinics • Insurance coverage is from 2,5 mln. Euro • Cost is from 3 000 Euro • Cooperation with leading insurance companies of Europe: - BUPA (Great Britain) - Globality Health (Luxembourg) - Allianz (German)

International Health Insurance (IPMI)


• While calculating the profit tax one relates self-cost of production in the amount of no more than 6% of the wage fund (p.16 art.255 of Tax Code of the Russian Federation) •not applicable for taxes by UST ( p.7 p.1 art. 238 of Tax Code of the Russian Federation) • not taken into account while determining the tax base for personal income tax (p.3 art.213 of Tax Code of the Russian Federation); insurance payments under VMI agreements are also not taken into account while determining the tax base (p.3 p.1 art.213 of Tax Code of the Russian Federation) •not taken into account while determining the tax base for personal income tax (p.3 art.213 of Tax Code of the Russian Federation); insurance payments under VMI agreements are also not taken into account while determining the tax base (p.3 p.1 art.213 of Tax Code of the Russian Federation)

Tax concessions in VMI&IPMI


Basic risks : •Accidental death -According to statistics, an accident is the cause of death number 1 for people aged 20 to 45 years. Payment for the risk of "death" is always 100% of the insurance coverage. •Disability as a result of the accident •Disability payment: 100% - for the determination of the disability of group 1, 75% of group 2, and 50% of group 3. •Injury as a result of the accident -Payments for the risk of "injury" are carried out on the basis of the table of payments and set a percentage of the insurance coverage for a particular case. For example, with a fractured finger, payment is 5% of insurance coverage, i.e. with an insurance coverage of 1 million rubles, the insured person can expect payment of 50 thousand rubles. •Hospitalization as a result of the accident •Coverage for this risk is included when the insured person enters the hospital for treatment as a result of an accident. -Injury as a result of the accident -Payments for the risk of "injury" are carried out on the basis of the table of payments and set a percentage of the insurance coverage for a particular case. For example, with a fractured finger, payment is 5% of insurance coverage, i.e. with an insurance coverage of 1 million rubles, the insured person can expect payment of 50 thousand rubles. •surgery operation as a result of the accident •For this risk the insured person receives a percentage of the insurance coverage according to the table of payments for a particular operation after an accident.

With insurance for 1 million rubles cost per 1 insured person is from 3 000 to 7 000 rubles.

Life Insurance – basic risks and options


•Accidental Death and Dismemberment -Insurers qualify this risk as "death for any reason". •Disability as a result of the accident or diseases -Additional coverage of the risks of "disability" as a result of diseases provide full insurance coverage in the event of heavy insurance events. •Hospitalization as a result of the disease or accident •Coverage for this risk is included, when the insured person enters the hospital for treatment not only as a result of an accident, but also of any disease. The payment is a percentage of the insurance coverage for every day spent in the hospital •surgery operation as a result of the accident or disease -For this risk the insured person receives a percentage of the insurance coverage, according to the table of payments for a specific operation in the event of a disease or an accident. •critical disease (Primary diagnosis of deadly diseases) -Payments for the risk of "injury" are carried out on the basis of the table of payments and set a percentage of the insurance coverage for a particular case. For example, with a fractured finger, payment is 5% of insurance coverage, i.e. with an insurance coverage of 1 million rubles, the insured person can expect payment of 50 thousand rubles. -surgery operation as a result of the accident -Risk insurance of "critical diseases" provide payments to the insured person in the initial diagnosis of twenty different diseases. Payment for the risk of "critical disease" is 100% of the insurance coverage

With insurance for 1 million rubles cost per 1 insured person is from 5 000 to 30 000 rubles. The average cost is 12 000 rubles.

Life Insurance – additional options


•Corporate funded programs, «golden handcuffs» -Corporate programs that allow employees of the companies to receive additional income after a certain period of work or retirement help to increase employee’s loyalty towards the employer.

•Monoline programs -Insurance against oncology with treatment in Russia or abroad (cost is from 1 500 to 20 000 rubles) -Insurance against critical diseases with treatment abroad (cost is from 3 500 to 50 000 rubles)

Life Insurance – special programs


•Corporate insurance programs for oncological diseases -Programs with a payment of 250 000 to 3 000 000 rubles, accompanied by treatment in Russian clinics. Сost is 1 000 rubles per 1 insured. -Programs with payment for the treatment of oncology and critical diseases in European and Israeli clinics. Insurance coverage is from 250 000 euros. The cost is 3 500 rubles per 1 insured. •Individual insurance programs for employees - Formation of a contract on a preferential basis on the website - www.onkostrahovanie.ru -Cost is from 8 000 Rub.

Oncological insurance


http://www.onkostrahovanie.ru/

http://www.onkostrahovanie.ru/

•The total amount of payments (contributions) paid by employers for insurance in an amount not exceeding 15,000 rubles per year, calculated as the ratio of the total amount of contributions to the number of the insured workers, can be refered to the wage fund (Tax Code of the Russian Federation, Part II, Ch. 25, item 255, item 16) •The expenses for insurance of citizens as a result of accidents and diseases are not included in the total annual income of the Insured Person (Tax Code of the Russian Federation, Part II, Chapter 23, Article 213) •The amounts of insurance payments, paid by the employer under the VMI Contracts for Accidents and Diseases of Employees are not a subject to taxation (Tax Code of the Russian Federation, Part II, Chapter 24, Article 238) •Insurance premiums of VMI contracts of citizens against accidents and diseases are out of Value Added Tax (VAT) (Tax Code of the Russian Federation, Part II, Chapter 21, Article 149).

Tax benefits for life insurance


•Increase of employees’ efficiency by reducing staff through lower absenteeism •Reduction of expenses due to lower payments for sick leave, additional types of financial help •Improvement of the emotional climate in the team

The cost is from 500 to 2,000 rubles per employee per year. The cost can be included in the premium under the VMI contract.

Psychological aid


• Savings are up to 40% with the VMI contract • Immediate medical expertise in clinics • The deposit can be used for any medical services, including

the ones that does not cover the VMI contract • Convenient electronic system for users, HR-specialists and

accountants • Tax privileges are saved

Deposit medical services - Alternative to VMI


• All-in-one service without additional cost •Support throughout all stages •Opportunity to combine programs from different insurers and partners •Interest in a long-term cooperation •Austerity budget of the client due to discounts on the volume, attracted by the broker to insurance companies

Insurance broker


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LLC «Independent Insurance Consultants» www.страховыеконсультанты.рф www.iicon.ru Russia, Moscow, Kapranov alley, b.3

[email protected] office +7 (495) 585-09-32

Thank You for Your attention!


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Insurance of employees in Russia