Request Asinta’s Market and Benchmark Insight Report for Russia and get the essential information you need to move forward in your decisions about employee benefits in the country. The report reviews statutory benefits, insured benefits, fringe benefits and perks, plan setup, and onboarding.
The following is an excerpt.
In recent years, the Russian health system has undergone several reforms to modernize its infrastructure and improve the quality of medical services. The process is still ongoing, and its results cannot be called uniform – in some subjects of the Russian Federation, the level of care within the state health system is relatively high with modern clinics and up-to-date equipment. In other regions, the quality of medical services available for the public is not sufficient enough. That is why in general, supplementary health insurance (SHI) in Russia is the most valued and popular employee benefit, and it seems that it will continue to be, along with life insurance solutions. Insurance pension schemes are almost not in demand since they do not have tax relieves to become attractive for employers. A more popular way to organize a corporate pension plan (due to the number of tax incentives) is to place it in a non-state pension fund, but this scheme usually works without a broker’s involvement.
Supplementary Health (Medical) Insurance (SMI)
SMI in Russia duplicates and complements compulsory health insurance and allows employees to access higher quality and well-equipped clinics of choice. However, even SMI does not usually cover some serious illnesses such as cancer, transplantations, or some types of cardiac surgery. The SMI plan usually covers all employees, but coverage levels often vary by seniority. Medical plans for executives are generally different and more sophisticated (for covered medical services and clinics) than ones for the central staff. The group SMI plan can include dependents. Higher-end employers (especially from Tech, Pharma, IT sectors) usually pay 100% premium for 1-2 dependents per employee (spouse, children, and sometimes parents). In other cases, an employee may partially or fully fund dependent coverage.
Other Helpful Information
This information about benchmarking employee benefits in Russia is provided by MAI CEE, Asinta’s employee benefits consulting Partner in the country.