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Employee Benefits in Costa Rica

  • February 2015
  • -
  • Timetric
  • -
  • 57 pages

Summary

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Synopsis
The Costa Rican social security system provides universal cover for healthcare and old-age needs of people living in Costa Rica. While all employees are required to contribute, the social security system also takes care of those unable to do so. The means-tested system ensures that people living in poverty have access to basic necessities. The Caja Costarricense de Seguro Social (Costa Rican Department of Social Security, CCSS) is the main regulator of the Costa Rican social security system.

Summary
The report provides in-depth industry analysis, information and insights into employee benefits in Costa Rica, including:

- An overview of state and compulsory benefits in Costa Rica

- Detailed information about private benefits in Costa Rica

- Insights into various central institutions responsible for the administration of the different branches of social security

- The regulatory framework of employee benefits in Costa Rica

Scope
This report provides a detailed analysis of employee benefits in Costa Rica:

- It offers a detailed analysis of the key government-sponsored employee benefits, along with private benefits

- It covers an exhaustive list of employee benefits, including retirement benefits , death in service benefits, long-term disability benefits, short-term sickness benefits, medical benefits, workmen’s compensation, maternity and paternity benefits, minimum resources, annual vacations, unemployment and private benefits

- It highlights the economic and regulatory situations relating to employee benefits in Costa Rica

Reasons To Buy
- Make strategic decisions using in-depth information related to employee benefits in Costa Rica

- Assess Costa Rica’s employee benefits market, including state and compulsory benefits and private benefits

- Gain insights into the key employee benefit schemes offered by private employers in Costa Rica

- Gain insights into key organizations governing Costa Rica’s employee benefits, and their impact on companies

Key Highlights
- The Costa Rican social security system is one of the most developed and comprehensive in the region. Employers and employees operating in Costa Rica are required to participate in the mandatory social security schemes.

- Costa Rica also has a universal healthcare system, which covers the medical needs of both the insured and underprivileged sections of society which are in need of immediate medical care. Employers and employees are required to contribute to this insurance.

- Employers are also required to contribute to several schemes that benefit employees, limiting the scope of private benefits provided by employers. One employee benefit offered by private Costa Rican employers is private medical insurance, which offers wider cover and more options than the public system.

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