Defining Coverage Types for Benefit Builds
Age of Dependents: Premium amount is based on the age of the dependent (Child, not Spouse) attached to the plan. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Age of Dependent (ER%): Premium amount is based on the age of the dependent (Child, not Spouse), with the ability to enter the percentage of the premium the employer will contribute. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Note: For coverage types dependent on age of dependent, “Identify Child(ren)” must be checked on the coverage level if more age levels are added in addition to the system default “Initially” level. Incorrect configuration will result in the benefit plan earning/deduction not calculating a value.
Age of Employee: Premium amount is based on the age of the employee.
Age of Employee (ER%): Premium amount is based on the age of the employee, with the ability to enter the percentage of the premium the employer will contribute. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Age of Spouse: Premium amount is based on the age of the Spouse attached to the plan. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Age of Spouse (ER%): Premium amount is based on the age of the Spouse attached to the plan, with the ability to enter the percentage of the premium the employer will contribute. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Note: For coverage types dependent on age of spouse, “Identify Spouse” must be checked on the coverage level if more age levels are added in addition to the system default “Initially” level. Incorrect configuration will result in the benefit plan earning/deduction not calculating a value.
Coverage Amount: Allows for coverage amount, premium amount, and employer pay amounts to be entered as dollar amounts or expressions. This coverage type also allows you to enable Use Units functionality. If using employee Salary as part of the coverage amount, premium amount, and/or employer pay amounts, you can tell the system to use salary as of 1/1, 12/31 of last year, 12/31 of current year, Pay Date, Custom Date (this year), Custom Date (Last Year), Custom Date (Next Year), Custom Date (Rolling Year), Employee Benefit Start Date, Company Benefit Plan Start Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date and then adjust this to be used Immediately, the First of the Following Month or the First of the Following Quarter. You may also Freeze Salary As Of Year Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Coverage Amount/Age: Allows for coverage amount, premium amount, and employer pay amounts to be entered as dollar amounts or expressions based on the age of the employee. This coverage type also allows you to enable Use Units functionality. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date. If using employee Salary as part of the coverage amount, premium amount, and/or employer pay amounts, you can tell the system to use salary as of 1/1, 12/31 of last year, 12/31 of current year, Pay Date, Custom Date (this year), Custom Date (Last Year), Custom Date (Next Year), Custom Date (Rolling Year), Employee Benefit Start Date, Company Benefit Plan Start Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date and then adjust this to be used Immediately, the First of the Following Month or the First of the Following Quarter. You may also Freeze Salary As Of Year Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Coverage Amount/Age of Dependents: Allows for coverage amount, premium amount, and employer pay amounts to be entered as dollar amounts or expressions based on the age of the dependent attached to the plan (Child, not Spouse). This coverage type also allows you to enable Use Units functionality. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date. If using employee Salary as part of the coverage amount, premium amount, and/or employer pay amounts, you can tell the system to use salary as of 1/1, 12/31 of last year, 12/31 of current year, Pay Date, Custom Date (this year), Custom Date (Last Year), Custom Date (Next Year), Custom Date (Rolling Year), Employee Benefit Start Date, Company Benefit Plan Start Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date and then adjust this to be used Immediately, the First of the Following Month or the First of the Following Quarter. You may also Freeze Salary As Of Year Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Coverage Amount/Age of Spouse: Allows for coverage amount, premium amount, and employer pay amounts to be entered as dollar amounts or expressions based on the age of the Spouse attached to the plan. This coverage type also allows you to enable Use Units functionality. This option contains the ability to “Freeze Age As Of” a Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date. If using employee Salary as part of the coverage amount, premium amount, and/or employer pay amounts, you can tell the system to use salary as of 1/1, 12/31 of last year, 12/31 of current year, Pay Date, Custom Date (this year), Custom Date (Last Year), Custom Date (Next Year), Custom Date (Rolling Year), Employee Benefit Start Date, Company Benefit Plan Start Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date and then adjust this to be used Immediately, the First of the Following Month or the First of the Following Quarter. You may also Freeze Salary As Of Year Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date.
Length of Service: Premium amount is based on the length of service of the employee. Using this coverage type allows you to Use Length of Service between two dates. The first date is either Date Hired or Date Re-Hired and the second date is based on the Use Length of Service At Date selected. The options are 1/1 of the current year, 12/31 of last year, 12/31 of current year, Pay Date, Custom Date (this year), Custom Date (Last Year), Custom Date (Next Year), Custom Date (Rolling Year), Employee Benefit Start Date, Company Benefit Plan Start Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date. You can Freeze Length of Service As of Year Custom Year, Company Benefit Plan Start Date, Employee Benefit Start Date, Pay Date, Date Hired, Date Started, Birthday, Seniority Date, Date Re-Hired, Review Date, Benefits Date, Frozen Benefit Date. You can tell the system to look at either the Date Hired or Date Re-Hired if the employee is a Re-Hire. Lastly, you can tell the system to use the length of service in Day(s), Week(s), Month(s), or Year(s).
Premium: Allows for specific dollar amounts to be entered for Premium and Employer Pays. For Premium you will enter the full monthly premium dollar amount. For Employer Pays $ you will enter the monthly premium dollar amount the employer contributes. The system will automatically calculate the monthly premium dollar amount the employee contributes.
Premium (ER%): Allows for specific dollar amounts to be entered for Premium and a percentage the Employer Pays. For Premium you will enter the full monthly premium dollar amount. For Employer Pays % you will enter the % the employer contributes. The system will automatically calculate the monthly premium dollar amount the employee contributes.