The beginning of 2024 did not bring good news for Romanians’ pockets: inflation is still high, and prices continue to rise, both for food and for objects. According to the National Institute of Statistics, inflation exceeded 7% in January. A basket of eight main products will cost 18% more in January 2024 than in January 2023, according to recent calculations by the TV station.

Consequently, faced with rising prices at all levels, Romanians are looking for ways to increase their incomes, and many of them inevitably turn to their own employers. For their part, many companies, given the difficult economic situation and financial difficulties at all levels, realize that raising wages – at least to a level that can effectively and permanently keep up with all the price increases in the market – is impossible, given the current fiscal context.

Fortunately, however, employers have other solutions available to help their employees save, and one of the most important is fringe benefits. A study published in early 2023 by EY Romania highlighted two major advantages of these benefits: one represented by the optimization of costs, an implicit financial effort, the other related to the loyalty and service of the workforce.

Among the solutions available, additional medical benefits such as subscriptions play a crucial role when it comes to reducing healthcare costs, which can lead to significant savings. This is possible because, through subscription, employees have access to examinations and consultations at significant discounts or even for free, depending on the package chosen by the employer.

For example, according to data from REGINA MARIA, one of the largest players in the market of private healthcare services, which manages a portfolio of more than 830,000 medical subscriptions and almost 12,000 companies, subscribers saved an average of 3,500 lei per subscription per year, an amount that is more than the minimum wage in the Romanian economy at the moment. There are also cases where employees who use a health card save up to 2,000 euros per year.

“The speed with which we adapt to any context helps us to have a quick reaction in front of the patient, offering him all the necessary tools so that he can take care of his health and the health of those around him. The needs of our patients are now more complex, so we have been guided by the development of comprehensive medical subscriptions that include psychotherapy sessions and dental services. Almost 12,000 companies in Romania realized that their efficiency depends on the health of their employees. In addition to facilitating access to medical services, companies help employees save on premiums. The data shows that our patients save an average of 3,500 lei per year, which is currently more than the minimum wage in Romania. Health remains a priority, especially in difficult economic conditions,” explained Andrea MINUTSA, executive director of REGINA MARIA subscriptions.

Another advantage of health plans is that employers can offer employees the opportunity to enroll family members in affordable health services. In fact, REGINA MARIA has seen this trend in the market for a long time: in the last year alone, the healthcare network registered an accelerated growth of 30% in family members and expects this trend to continue in 2024.

In a context where family budgets in Romania are under increasing pressure due to inflation, having easier access to a doctor and being able to save amounts equivalent to even an extra salary at the end of the year is an extremely useful solution and a helping hand that employers can give to their employees without jeopardizing financial resources, which they, in turn, need to solve current economic problems.

The article was approved by Queen Mary