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.

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.

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.

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

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.

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

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.

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

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.

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

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).

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.

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 150% in terms of IRC (according to the State Budget Law of 2023).

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.

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.

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.

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.

In order to ensure the integrity 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.

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.

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.

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.

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.

This benefit is considered a delivery, granted without counterparts, and is intended to support public or private entities that are mentioned in the Portuguese Tax Incentives Statute (EBF - Estatuto de Benefícios Fiscais), whose activity predominantly consists of carrying out initiatives in the social, cultural, environmental, sports or educational fields. The tax regime for Donations is provided for in articles 61.º to 66.º of the EBF.
*This category is considered a professional expense.

Employees can use their Benefits balance to support the intended entities directly through their apps. They only need to select the amount with which they want to contribute and the entity they want to help, and the funds will be immediately transferred to the selected entity. The donations will be made on behalf of the company and will be duly documented through the issuance, by the beneficiary entity to the company, of a donation receipt.

This category is intended for other kinds of expenses/benefits that we do not yet support but that the company would like to make available to employees, using the benefits balance and defining in the app which expenses are accepted under this category.
*This category is considered a professional expense.

Following the guidelines and company policies, employees can access this benefit by requesting a reimbursement for their expenses through Coverflex. They just need to make sure to include the required fiscal information when requesting the invoice and submit the receipt through the app.