Coverflex Benefits

Our selection of flexible benefits is a key component of the Coverflex experience. Learn about our growing list of available benefits and how they make life simpler and efficient for both companies and employees.

Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Health Insurance

IRS exemption
Social Security exemption
About the benefit

The Health Insurance, that protects its employees (and their families) in the event of illness when granted within the rules identified in Article 43, n.º 2, of the CIRC, is a benefit exempt from IRS and TSU in the sphere of the employee and exempt from TSU in the sphere of the company. This benefit is considered an expense for the purposes of corporate income tax.

How it works

Companies can purchase Health Insurance for their employees * in a completely digital process through the Coverflex platform. After confirming the constitution (or transfer) of the insurance, the management of all processes is centralized on our platform - it is possible to access all documentation and billing information, and also add and remove employees from the policy.
Employees, through their application, can also view all the details of their insurance, access the policy documentation and also add their household members to the health insurance.
*or request a transfer of mediator to Universal Cover Mediação de Seguros, Unipessoal Lda.

Coverflex
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Meal

IRS exemption
Social Security exemption
About the benefit

The meal balance is intended for the payment of meal allowances in the form of an electronic meal voucher to employees, as provided for in Article 126, Article 119 and Article 2/3 (b) of the Portuguese Personal Income Tax (IRS) Code. In other words, it corresponds to the payment of the meal allowance considered in salary processing.
The meal card amounts are exempt from SS and IRS taxation up to €7.63/day [according to Article 2/3 (b) of the IRS Code]. Any payment above these amounts will not benefit from tax exclusion in the excess.

How it works

The amount charged to the Meal balance will be available to the employees in their Coverflex card and can be spent in restaurants, supermarkets, online food delivery services, among others, both online and offline wherever Visa is accepted.

Coverflex Card
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Coverflex Childcare

IRS exemption
Social Security exemption
About the benefit

Coverflex Childcare is intended for the payment of daycare centres, kindergartens and nursing homes for children under the age of seven, being exempt from Social Security and IRS taxation. The amount supported by the employer with the issue of the vouchers will be increased by 140% in terms of corporate tax (IRC).
Coverflex (Universal Cover SA) is an official issuing entity of this type of vouchers, complying with the provisions of Decree-Law n.º 26/99.

How it works

Coverflex Childcare vouchers are available in the Wallet plan, where they can be issued directly through the employee's application to any school that belongs to our network*. Employees just need to provide their child's information, and select the amount and school. The payment is instantly made and the invoice becomes available for the company. It couldn't be easier!
Our vouchers are also available on the Childcare plan, where the company has a dedicated platform to issue, pay and access the invoices of the Coverflex Childcare vouchers.
*If a school does not yet belong to our network, the request for addition to Coverflex can be submitted in the app and the process is triggered immediately.

Coverflex
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Education expenses

Social Security exemption
About the benefit

Education expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under point c) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting family household expenses, namely with the attendance of schools and other education establishments.

How it works

Within this benefit, the Coverflex card can be used to pay for:

courses for the employee and their direct family
tuition fees from schools, learning centres or universities
school books, technical books & stationery
Coverflex Card
Reimbursement
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Health & Well-being

Social Security exemption
About the benefit

Health and well-being expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under points c) and d) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting expenses with employees' families that are related to daycares, nursing homes, social support establishments, as well as for the payment of expenses with medical assistance and medication.

How it works

To access this benefit, the Coverflex card can be used on:

hospitals, health clinics or laboratories
pharmacies and drugstores
physiotherapy, massages, psychology, etc.
physical or mental health apps
Coverflex Card
Reimbursement
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Gym & Fitness

Social Security exemption
About the benefit

The gym and fitness expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under points c) and d) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting expenses with employees' families that are related to daycares, nursing homes, social support establishments, as well as for the payment of expenses with medical assistance and medication.

How it works

Within this benefit, the Coverflex card can be used to pay for gyms, sports club and fitness centres, among others.

Coverflex Card
Reimbursement
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Senior expenses

Social Security exemption
About the benefit

Senior expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under points c) and d) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting expenses with employees' families that are related to daycares, nursing homes, social support establishments, as well as for the payment of expenses with medical assistance and medication.

How it works

Within this benefit, the Coverflex card allows to pay for expenses related to:

day care centres and nursing homes
senior residences
social support establishments
Coverflex Card
Reimbursement
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Retirement & Investment

Social Security exemption
About the benefit

This benefit is the so called Retirement Savings Plan. For the purposes of Social Security, the subject of this type of installments is pending regulation (Article 46, n.º 2, Código dos Regimes Contributivos da Segurança Social). In the absence of regulation, the amounts used on this benefit will then be subject to IRS taxation but will be exempt from SS. Since the underlying income is subject to IRS, the cost for IRC purposes should be deductible. Employees have acquired and individualised rights (whose exercise does not depend on maintaining the employment relationship).

How it works

Employees can use their benefits' balance to invest in Retirement and Savings products directly through their app. Coverflex offers investment products from Real Vida Seguros, encompassing different levels of investment, flexibility and return, to meet different profiles.

Coverflex
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Public transportation

IRS exemption
Social Security exemption
About the benefit

Transport cards can be purchased for employees (family members or others not included) on behalf of the employer, being exempt from Social Security and IRS. The transport cards must be purchased on behalf of the employer, so that the amount supported by the employer with the acquisition of such cards can be increased by 130% in terms of IRC (according to the State Budget Law of 2020).

How it works

In order to ensure that the expense is made on behalf of the company, this benefit is available at Coverflex by reimbursement, meaning it is not possible to use the card for these payments.
In order to be reimbursed, the employees just need to include the company details on the invoice when purchasing their monthly transport card and submit the receipt for a reimbursement through the app.

Reimbursement
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Professional training

About the benefit*

Professional training programs can be promoted by the employer, either by public law bodies or an entity recognised as having competence in the fields of professional training by the competent government departments. For these purposes, it is assumed that the training is contracted directly by the Company for the benefit of the employee, it is properly documented and impacts the professional role and development of the employee.
*This category is considered a professional expense.

How it works

With this benefit, employees can pay for their MBA, post-graduation, language course, coding lessons, etc. - as long as it's relevant for their role and from a recognised entity in the field of professional training, it is on!
To ensure the integrity of the expense, this benefit is only available via reimbursement, meaning it is not possible to pay for such expense with the Coverflex card. In order to be reimbursed, employees just need to include the company details on the invoice and submit the receipt for approval through the app.

Reimbursement
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Technology

About the benefit*

Compensation of professional expenses, borne by employees to perform their duties, related to the acquisition of technological equipment aimed exclusively at facilitating the provision of work or improving their working conditions.
*This category is considered a professional expense.

How it works

In order to ensure the integrety of the expense, it's not possible to use the Coverflex card to purchase technological equipment.
To access this benefit, employees can purchase Apple products with up to 10% discount directly in the Coverflex app (subject to company approval). Alternatively, it is also possible to submit an expense for reimbursement through Coverflex.

Coverflex
Reimbursement
Health Insurance
Meal
Coverflex Childcare
Education expenses
Health & Well-being
Gym & Fitness
Senior expenses
Retirement & Investment
Public transportation
Professional training
Technology
Parking

Parking

IRS exemption
Social Security exemption
About the benefit*

Considered a professional expense, this benefit is intended to cover expenses of the employees with parking spaces retainers in order to support the execution of their role at the company. For these purposes, it is assumed that the parking space is invoiced to the Company and it is properly documented.
*This category is considered a professional expense.

How it works

To insure the integrity of the expense, this benefit is only available via reimbursement, not being possible to pay with the Coverflex card.
In order to be reimbursed for their expense, employees just need to include the company details on the invoice when paying for their parking space and submit the receipt for a reimbursement through the app.

Reimbursement

Health Insurance

IRS exemption
Social Security exemption
About the benefit

The Health Insurance, that protects its employees (and their families) in the event of illness when granted within the rules identified in Article 43, n.º 2, of the CIRC, is a benefit exempt from IRS and TSU in the sphere of the employee and exempt from TSU in the sphere of the company. This benefit is considered an expense for the purposes of corporate income tax.

How it works

Companies can purchase Health Insurance for their employees * in a completely digital process through the Coverflex platform. After confirming the constitution (or transfer) of the insurance, the management of all processes is centralized on our platform - it is possible to access all documentation and billing information, and also add and remove employees from the policy.Employees, through their application, can also view all the details of their insurance, access the policy documentation and also add their household members to the health insurance.
*or request a transfer of mediator to Universal Cover Mediação de Seguros, Unipessoal Lda.

Coverflex

Meal

IRS exemption
Social Security exemption
About the benefit

The meal balance is intended for the payment of meal allowances in the form of an electronic meal voucher to employees, as provided for in Article 126, Article 119 and Article 2/3 (b) of the Portuguese Personal Income Tax (IRS) Code. In other words, it corresponds to the payment of the meal allowance considered in salary processing.The meal card amounts are exempt from SS and IRS taxation up to €7.63/day [according to Article 2/3 (b) of the IRS Code]. Any payment above these amounts will not benefit from tax exclusion in the excess.

How it works

The amount charged to the Meal balance will be available to the employees in their Coverflex card and can be spent in restaurants, supermarkets, online food delivery services, among others, both online and offline wherever Visa is accepted.

Coverflex Card

Coverflex Childcare

IRS exemption
Social Security exemption
About the benefit

Coverflex Childcare is intended for the payment of daycare centres, kindergartens and nursing homes for children under the age of seven, being exempt from Social Security and IRS taxation. The amount supported by the employer with the issue of the vouchers will be increased by 140% in terms of corporate tax (IRC).
Coverflex (Universal Cover SA) is an official issuing entity of this type of vouchers, complying with the provisions of Decree-Law n.º 26/99.

How it works

Coverflex Childcare vouchers are available in the Wallet plan, where they can be issued directly through the employee's application to any school that belongs to our network*. Employees just need to provide their child's information, and select the amount and school. The payment is instantly made and the invoice becomes available for the company. It couldn't be easier!Our vouchers are also available on the Childcare plan, where the company has a dedicated platform to issue, pay and access the invoices of the Coverflex Childcare vouchers.
*If a school does not yet belong to our network, the request for addition to Coverflex can be submitted in the app and the process is triggered immediately.

Coverflex

Education expenses

Social Security exemption
About the benefit

Education expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under point c) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting family household expenses, namely with the attendance of schools and other education establishments.

How it works

Within this benefit, the Coverflex card can be used to pay for:

courses for the employee and their direct family
tuition fees from schools, learning centres or universities
school books, technical books & stationery
Coverflex Card
Reimbursement

Health & Well-being

IRS exemption
Social Security exemption
About the benefit

Health and well-being expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under points c) and d) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting expenses with employees' families that are related to daycares, nursing homes, social support establishments, as well as for the payment of expenses with medical assistance and medication.

How it works

To access this benefit, the Coverflex card can be used on:

hospitals, health clinics or laboratories
pharmacies and drugstores
physiotherapy, massages, psychology, etc.
physical or mental health apps
Coverflex Card
Reimbursement

Gym & Fitness

Social Security exemption
About the benefit

The gym and fitness expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under points c) and d) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting expenses with employees' families that are related to daycares, nursing homes, social support establishments, as well as for the payment of expenses with medical assistance and medication.

How it works

Within this benefit, the Coverflex card can be used to pay for gyms, sports club and fitness centres, among others.

Coverflex Card
Reimbursement

Senior expenses

Social Security exemption
About the benefit

Senior expenses are regulated through Article 48 of the Portuguese Social Security Code, which - under points c) and d) - excludes from Social Security contributions the allowances granted by employers to their employees with the goal of offsetting expenses with employees' families that are related to daycares, nursing homes, social support establishments, as well as for the payment of expenses with medical assistance and medication.

How it works

Within this benefit, the Coverflex card allows to pay for expenses related to:

day care centres and nursing homes
senior residences
social support establishments
Coverflex Card
Reimbursement

Retirement & Investment

Social Security exemption
About the benefit

This benefit is the so called Retirement Savings Plan. For the purposes of Social Security, the subject of this type of installments is pending regulation (Article 46, n.º 2, Código dos Regimes Contributivos da Segurança Social). In the absence of regulation, the amounts used on this benefit will then be subject to IRS taxation but will be exempt from SS. Since the underlying income is subject to IRS, the cost for IRC purposes should be deductible. Employees have acquired and individualised rights (whose exercise does not depend on maintaining the employment relationship).

How it works

Employees can use their benefits' balance to invest in Retirement and Savings products directly through their app. Coverflex offers investment products from Real Vida Seguros, encompassing different levels of investment, flexibility and return, to meet different profiles.

Coverflex

Public transportation

IRS exemption
Social Security exemption
About the benefit

Transport cards can be purchased for employees (family members or others not included) on behalf of the employer, being exempt from Social Security and IRS. The transport cards must be purchased on behalf of the employer, so that the amount supported by the employer with the acquisition of the transport cards can be increased by 130% in terms of corporation tax, also called IRC (according to the State Budget Law of 2020).

How it works

In order to ensure that the expense is made on behalf of the company, this benefit is available at Coverflex by reimbursement, meaning it is not possible to use the card for these payments.In order to be reimbursed, the employees just need to include the company details on the invoice when purchasing their monthly transport card and submit the receipt for a reimbursement through the app.

Reimbursement

Professional training

About the benefit*

Professional training programs can be promoted either by the employer, public law bodies or any entity recognised as having competence in the fields of professional training by the competent governmental departments. For these purposes, it is assumed that the training is contracted directly by the company for the benefit of the employee, it is properly documented and impacts the professional role and development of the employee.
*This category is considered a professional expense.

How it works

With this benefit, employees can pay for their MBA, post-graduation, language course, coding lessons, etc. - as long as it's relevant for their role and from a recognised entity in the field of professional training, it is on!
To ensure the integrity of the expense, this benefit is only available via reimbursement, meaning it is not possible to pay for such expense with the Coverflex card. In order to be reimbursed, employees just need to include the company details on the invoice and submit the receipt for approval through the app.

Reimbursement

Technology

About the benefit*

Compensation of professional expenses, borne by employees to perform their duties, related to the acquisition of technological equipment aimed exclusively at facilitating the provision of work or improving their working conditions.
*This category is considered a professional expense.

How it works

In order to ensure the integrety of the expense, it's not possible to use the Coverflex card to purchase technological equipment.To access this benefit, employees can purchase Apple products with up to 10% discount directly in the Coverflex app (subject to company approval). Alternatively, it is also possible to submit an expense for reimbursement through Coverflex.

Coverflex
Reimbursement

Parking

IRS exemption
Social Security exemption
About the benefit*

Considered a professional expense, this benefit is intended to cover expenses of the employees with parking spaces retainers in order to support the execution of their role at the company. For these purposes, it is assumed that the parking space is invoiced to the Company and it is properly documented.
*This category is considered a professional expense.

How it works

To insure the integrity of the expense, this benefit is only available via reimbursement, not being possible to pay with the Coverflex card.
In order to be reimbursed for their expense, employees just need to include the company details on the invoice when paying for their parking space and submit the receipt for a reimbursement through the app.

Reimbursement

3 ways to use Coverflex benefits

Coverflex Card

The Coverflex card can be used on most of our categories of benefits. Depending on the purchase, the transaction will either be accepted (and the expense properly categorised) or it may be refused if not supported.

Coverflex App

Some benefits can be used directly from the Coverflex platform, such as the issuance of Coverflex Childcare vouchers, and the respective invoices are made available on the platform.

Expense Reimbursement

In the events in which it is not possible to use the Coverflex card, the employee may proceed with the expense using a different available payment method and ask for the reimbursement of the expense through the Coverflex app. The employee shall submit the respective invoice and, pending approval from the company, the corresponding amount will be transferred from the employee's benefits' balance into their bank account.

FAQs

Who chooses the benefits?
How can I configure the benefits I'd like to make available to employees?
Do Coverflex benefits work anywhere or only on a specific network?
Do all Coverflex benefits have a favourable tax framing?
How should the costs with benefits be framed on the payroll process?

Coverflex Plans

Coverflex
Wallet

The easiest way to award, manage and enjoy multiple benefits, includes our Childcare and Meal services.

6€
per month
per employee

Coverflex
Childcare

The first fully digital and autonomous experience to issue childcare vouchers.

2% 0%
commission per childcare voucher

Coverflex
Meal

The best experience to manage and spend Meal Allowance.

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