Employee insurance – what it covers and how responsible employers choose it

One of the key advantages among employers in Bulgaria is the successful development of an employer brand – a strong corporate identity that makes them recognizable and preferred on the labor market.

The modern workforce is placing increasingly higher demands on their employers – competitive pay, flexible working hours, and a comprehensive benefits package.

One of the most valuable perks that many companies are now providing for their employees is health insurance. In this article, we will look at the main types of employee insurance offered under general insurance in Bulgaria.

What is employee insurance?

Employers can choose from several types of insurance for their employees:

• Health Insurance

Health insurance is among the most sought-after, and the market offers various options. It does not replace public health insurance but complements it with extended coverage. Most insurers offer standard clauses – inpatient and outpatient medical care, as well as reimbursement of expenses for medical goods and services.

However, Euroins is one of the insurers on the market that offers an entirely new and innovative health product – My Euroins Health. This insurance focuses primarily on prevention and early detection of significant illnesses, which leads to effective treatment. In addition, thanks to the partnership with the life insurance company Euroins Life, the policy provides coverage for the treatment of critical illnesses not only in Bulgaria but also in medical institutions worldwide.

Additionally, Euroins offers its clients assistance services that guide them and support the process of arranging medical check-ups and possible treatments.

The choice of health insurance for your employees depends on a combination of factors: employee age, lifestyle, social and personal needs, and many others.

• Occupational insurance

This is another option for employers to protect their employees’ health. Under Bulgarian law, Occupational Insurance is mandatory for professions considered higher risk due to the nature of their work. These professions are defined by order of the Minister of Labor and Social Policy, and every employer is obliged to verify whether their professional practice falls into this list. According to the Social Security Code, a work accident is defined as any health impairment caused as a result of performing work-related duties.

Why is employee insurance important for employers?

HR advantages and social responsibility

Employee insurance is taking an increasingly important place in a company’s benefits package. For every business, employees are the most valuable asset, and caring for their health and providing a safe working environment is a key factor for success. This not only improves the workplace but also builds trust and loyalty among employees.

Such benefits present the company as a reliable employer who:

• Skillfully attracts highly qualified employees;
• Reduces staff turnover and, with it, recruitment and training costs.

By genuinely caring for the well-being of their employees, companies build a solid corporate social responsibility strategy and a positive public image.
 

Business Benefits

Alongside the advantages for employees, it is important to mention the business benefits of health insurance as well.

One of them is the tax relief that companies receive if they provide voluntary health insurance for their employees. In general terms, the contributions made are deducted from the annual taxable base.

In this way, companies not only optimize their expenses but also build a sustainable policy. Protected in terms of their life and health, employees will feel more at ease in the workplace, which in turn leads to higher motivation and productivity.

How to choose the right insurance?

To select the most suitable insurance for employees, it is necessary to analyze their needs and requirements:

• Assess the team profile: age, health risks, family status;
• Define a realistic budget;
• Prioritize the most important coverages depending on the sector.

Another important criterion is the choice of the insurance company. The main factors to consider are:

• A wide network of hospitals and doctors;
• Speed and quality of claims handling;
• Flexibility of terms and the possibility of adjustments;
• Modern technological solutions, such as mobile apps and online platforms.