Faculty of Business Administration

ASE, Bucharest

COMPARISON BETWEEN
TWO OFFERS OF HEALTH
INSURANCE

Coordinator professor:

Students:

Laura Elly Naghi

Baicu Georgiana
Banica Bogdan
Belinschi Alexandru

Faculty of Business Administration, ASE, Bucharest

2014

Table of Contents
Introduction............................................................................................................... 3
1

Faculty of Business Administration

ASE, Bucharest

The system of private health insurance in Romania...............................................................3

Case Study - two offers of health insurance.........................................................................4
SanaPro from Allianz Tiriac........................................................................................ 4
Health and Value from Uniqa Insurances.........................................................................4
The comparison between the two offers............................................................................. 5
Bibliography.............................................................................................................. 7
Appendices................................................................................................................ 8

Introduction

Faculty of Business Administration

ASE, Bucharest

The health insurance is the financial operation which establishes a

contract between the insured and the insurer, the purpose of it being that the
insurer pledges to offer health services and products to the insurant in exchange
of an established amount of money.
In Romania, as in most of the countries, there are 2 types of health
insurances: public and private. While for the public insurance the citizens are not
obliged to personally pay for it as long as they have a job (the employer paying
this fee from their salaries), the private insurance is only an option opened to
everyone who wants to adopt it, meaning paying themselves for the desired
services.

The system of private health insurance in Romania

In the past years, in Romania, the number of the private clinics has rapidly
increased; growing fast in a competitive market, these companies started to
create more and more tempting offers in order to gain customers. Given also the
context of the public medical system, the number of citizens who sign a contract
with the private clinics increase year by year.
The medical companies offer two possibilities for the citizens to make a
contract: the subscriptions and private health insurances. The subscription it is a
method which implies paying a monthly fee to the clinic in exchange for some
services (the insured chooses a services package by preference). All the services
which are not included in the subscription must be paid by the insured. The pass
has a timeframe, being on a determined time.
The health insurance, in exchange, is signed with an insurance company
which acts as an intermediate between the clinics and the beneficiary. It is a
more complex system, where the insured can benefit from the medical services
to any private clinic, both in Romania and abroad. However, this policy can also
be chosen by preference, the insured having the freedom to pay less for less
services or more for a larger variety of services. This insurance is created
according to the gender, job and health condition of the patient and it does not
entail services for chronic diseases, these being considered expensive beacuse of
their relapse.

Case Study - two offers of health insurance

3

Faculty of Business Administration

ASE, Bucharest

We have asked two insurance companies to give us their offers for a male
of 22 years old, based on his historical health condition. The companies to which
we headed were Allianz Tiriac and Uniqa Asigurari. A survey was applied to the
subject, containing basic questions regarding his health. Example of questions
are: Do you smoke? If yes, how many cigarettes per day do you smoke? Do
you have any respiratory disease? If yes, which one and since when? (See
Annex 1 SanaPro Allianz Tiriac, pages 2-3).
SanaPro from Allianz Tiriac
The SanaPro offer from Allianz Tiriac is coming with a big package of
services, as we have chosen the most comprehensive ones. Therefore, for the
basic insurance we have chosen the last variant, of 1.800 RON while for the
hospitalization and surgery we have chosen the most expensive option also
(having a price of 750 RON). The total amount to be paid by the beneficiary is
of 2.800 RON/year, having unlimited consultations. However, a part of the
services are payable (some of them become payable after 1-2 which are free).
Health and Value from Uniqa Insurances
The Health and Value from Uniqa Insurances is also called The Plus
package (see Annex 2, Health and Value Uniqa Insurances). It specifies the
various indemnizations for hospitalization (such as 60 RON/day in case of a
disease or double in case of an accident), the compensation for surgeries (1.250 /
1.950 / 3.200 RON) and also the premium for the insurance: 324 RON/year.
Uniqa gives the possibility of different payment terms: it can be paid either
monthly, quarterly, half-yearly or annually. Also, this insurance is available in
any private clinic in Romania and abroad and its system functions as it follows:
the insured pays the fees to the private hospital and furthermore, Uniqa
indemnifies the beneficiary depending on its type of contract.

The comparison between the two offers

First of all, the main difference between the two health insurance offers is
the price. The premium we have to pay for the health insurance offer we have
4

Faculty of Business Administration

ASE, Bucharest

received from Uniqa is 324 RON per year, but it doesnt cover too many health
related issues. On the other hand, the premium we have to pay for health
insurance from Allianz Tiriac is almost nine times bigger but it covers almost
every health issue you could encounter. The insurance policy form Allianz Tiriac
is a lot more complex and specific than the one from Uniqa and it is split in
three different provisions.
The insurance policy from Uniqa doesnt specify a the maximum insured
amount for hospitalization for an accident or illness, but while you can be
hospitalized for an unlimited number of days, the allowance for hospitalization
in case of illness is 60 RON/day and the allowance for hospitalization in case of
an accident is 120 RON/day. In comparison, the insurance policy from Allianz
Tiriac is split in three categories, each with different options and premiums. The
basic health insurance from Allianz Tiriac covers for an unlimited number of
consultations and other lab tests. Furthermore it also covers for ambulance
service (1000 RON/year) and more complex tests, but they can only be done
once per year (example: mammography, MRI etc.). For this option, the premium
is 1 800 RON/year and the insured amount is 12 000 RON/year.
The premium you have to pay for the hospitalization and surgical
intervention insurance from Allianz Tiriac is 750 RON/day and the insured
amount is 15 000 RON/year. The maximum number of hospitalization days
covered by the insurance is 15 days/year. The insurance company only covers
for a full refund for their partners. If you get hospitalized somewhere other than
their partners, the maximum amount they will cover for is 200 RON/day and
1000 RON/surgical intervention. On the other hand, Uniqa has the surgical
interventions classified in three categories depending on their severity and they
cover for unlimited interventions per year. The insured amount for the surgical
interventions is as follows:
Type 1 1 250 RON
Type 2 1 950 RON
Type 3 3 200 RON

This insurance also covers for an unlimited number of fractures per year.
The compensation is 1 250 RON/fracture.
The Allianz Tiriac insurance policy has another provision that cant be
found in the Uniqa insurance policy. It is called the Prevention Provision and it
5

Faculty of Business Administration

ASE, Bucharest

is optional and paid separately. It covers for various lab tests that every person
should do every year to check on their health status and you dont have to be
sent by the doctor in ordered to be covered by the insurance.
In conclusion, the premium for the insurance policy from Uniqa is 324
RON/year and it covers for partial payment for hospitalization in case of illness
and accidents, bone fractures and surgical interventions, while the Allianz Tiriac
insurance policy has three different provisions each with different premiums to
be paid depending on the complexity of insured services and the insured
amount. The premium for the full options insurance policy is 2 800 RON/year.

Faculty of Business Administration

ASE, Bucharest

Bibliography

Badea, G. 2003, Insurance and Reinsurance, Ed. Economica, Bucharest;

Official sources from the representatives of Allianz Tiriac and Uniqa
(see Annex 3 and Annex 4);
http://www.asigurari-de-sanatate.net/ - Homepage article, retrieved on 03rd
April 2014.

Faculty of Business Administration

ASE, Bucharest

Appendices