Benefits - Spain 🇪🇸

Overview

Your local benefits packages provide you with benefits tailored to your country.  

Coverage highlights

Some of the coverage highlights include:

• Faster claim experience
• Best-in-class service by top Spanish providers
• Private health insurance, supported by a locally based broker
• The option for dependent coverage - partner and children
  Dependent coverage must be covered 100% by Oyster’s customer and not by the employee.
• Social benefits such as meal, transport, and nursery vouchers
• Perks can include a flexible fitness offering

Coverage summary

Benefits providers

Oyster works with top local providers in Spain who understand the market and offer reliable service.

Regarding private health insurance, Cigna is the insurer backing each of the health insurance plans. In addition, we have partnered with Cobee, a top broker in Spain, to facilitate the set-up and management of the day-to-day activities. 

Private health insurance: 

• Cobee (broker)
• Cigna (insurer)

Social benefits: 

• Cobee (broker)

Fitness perk: 

• Urban Sports 

General FAQs 

When do my benefits start? 

• It is standard in Spain for all employees to complete a mandatory health questionnaire via phone before the policy can be activated. However, the insurer has offered all Oyster employees a one-month promotional period, which means there is no need to complete the health questionnaire if the Team Member applies for their health insurance within 21 days of joining Oyster.
• Therefore, it is important for all employees to apply for their health insurance via the Cobee app within 21 days of joining Oyster. If the application is completed before the 21st day of the month, the coverage will start on the 1st of the following month.
• If the application is completed after the 21st day of the month, the coverage will start on the 1st of the month after the next month.
• For example:
  • If you receive your invite on 1 April 2023 and complete your application before 21 April 2023, your coverage will start on the 1st of May 2023.
  • If you receive your invite on 1 April 2023 and complete your application after 21 April 2023, your coverage will start on the 1st of June 2023. 

Please note employees who do not yet have an NIE or NIF number cannot be enrolled in health and social benefits. 

• For the Urban Sports benefit, the start date of this benefit will be the 1st of the following month if the receiving employee completes their online enrollment timely.

How do I access my Cobee account?

• Check out Cobee's guide to activate and access your account. 

Will I receive a physical card linked to my Cobee account?

• Yes. Be sure to add your physical address to your profile.  
• It takes approximately 5 to 15 business days to arrive.
• Follow Cobee's guide to activate your physical card. 

Is it possible to add dependents? 

• Yes. If your company has agreed to cover your dependents, you will be added to the Cobee platform with the option to add your dependents.
• Please check with your HR representative if your company agreed to cover dependents. 

How do I add a dependent?

In the Cobee app, do the following:

1. Click Benefits.
2. Select the Health Insurance benefit.
3. Click the Apply for current period button and start the process.
4. Add your family member(s) to the insurance. You must add each dependent separately.
   

   You can only add dependents if your company allows it.

5. You can take out the policy for yourself, your partner, or your children. 
6. Select the policy you are interested in. 
7. Read the information about health insurance to choose the policy that best suits your needs. 
8. Click Hire Insurance. 

How many dependents can I add?

• If your company has agreed to allow you to add dependents, they will also specify how many dependents you can add. You cannot add more than the allowed number of dependents.
• Please check with your company's HR representative about the number of dependents you can add.

How is the cost of my dependents covered? 

• If your company has agreed to allow you to add dependents, the cost of the dependents will be covered by your company. 

Can I pay for my dependent(s) health insurance via Cobee? 

• Unfortunately, no. Dependents can only be added if your company has agreed to cover their costs.  

When will my dependents’ cover start? 

• If you add your dependents via the Cobee platform before the 20th of the month, coverage will start on the 1st of the next month. For example, if you add your dependent(s) on 12 April 2023, their coverage will start on the 1st of May 2023. 
• If you add your dependents via the Cobee platform after the 20th of the month, coverage will start the 1st of the month after the next month. For example, if you add your dependent(s) on 25 April 2023, their coverage will start on the 1st of June 2023. 

What are “social benefits”?

• Social benefits are a form of non-monetary remuneration that the company's workers receive to complement their salary for the work performed.
• Companies offer these remunerations to improve the quality of life of the teams through favorable conditions in the payment of services such as transportation, food, or childcare. 

What is the allowance included in my plan?

Competitive Tier

• €180 per month
• This allowance can be used for meals and nursery expenses

Best-in-class Tier

• €220 per month
• This allowance can be used for meals, transportation and nursery expenses

Do I have to sacrifice a portion of my salary for social benefits?

• No. Your company assumes the cost of these advantages entirely based on its collective agreements or internal policies.

How do social benefits affect my taxation?

• Check out Cobee's guide about the taxation of social benefits. 

Does my social benefit balance accumulate?

• Yes, and the accumulation of your balance has already been activated. This allows you to accumulate the remaining money to be consumed in the following months. 

• Check out Cobee's guide about the accumulation of social benefits. 

The tax implications of allowances and insurance provided in Spain via Cobee: A Comprehensive Overview

In Spain, Cobee is a renowned provider of allowances and insurance benefits for employees. It is crucial for both employers and employees to understand the tax implications associated with these offerings.

Fortunately, the tax regulations surrounding allowances and insurance in Spain have been designed to provide certain exemptions and limitations, ensuring a favourable situation for the employees.

This article aims to shed light on the tax implications of allowances and insurance provided by Cobee in Spain, highlighting the specific limits set by the authorities.

1. Allowances:
Allowances provided with our local benefits through Cobee, such as meal vouchers, transportation allowances, or childcare benefits, enjoy tax advantages for employees.

The following key points should be considered:

• Exemption Limits: The Spanish tax system sets certain exemption limits for allowances, beyond which they become subject to taxation. These limits vary depending on the specific type of allowance. For example, meal vouchers up to a certain monetary value are exempt from income tax.
  
• You can find further information about the limits in this helpful article.

2. Health Insurance Benefits:
Insurance benefits offered through Cobee also have specific tax implications that both employers and employees should be aware of:

• In Spain, employer-paid health insurance premiums for employees are generally considered a tax-free benefit. However, certain conditions and limitations may apply, and it is important to review the specific provisions outlined by the tax authorities.
• The general regime stipulates a tax-free limit of 500€ per insured or 1500€ with disability.
• The tax exemption is not applicable to employees living in Navarra, Álava, Guipúzcoa & Vizcaya. 

Support

Who do I reach out to if I have further questions? 

• Contact Oyster Support, where a member of our dedicated Support team will assist.

Downloadable brochures

Private Health Insurance:

• • Competitive | Best In Class
  • Social Benefits
  • Fitness Perk