The coverage rate/template selected from the 'Properties' tab for a plan determines the fields provided under the 'Premiums' tab to enter the proper premium and employer credit amounts. You will likely see just a premium box and employer contribution box for many of the coverage rate templates selected.
If the fields provided are incorrect or do not match with your expecations, double check the coverage rate template in the "Properties" tab for the plan.
Navigating to Premiums
- Expand Settings and click Benefit Management from the menu.
- Click the name of the new benefit package.
- Click the Configure Benefit Structure tab.
- Click add plan to create a new plan or click the name of an existing plan.
- Click the Premiums tab.
- The coverage filter will default to the selected coverage. We recommend clicking Show All to see all available coverage levels so that premiums for later coverage options are not missed or forgotten.
- Enter the coverage level premiums as appropriate. Click Save Premiums when finished.
- If no premium or employer credit is entered in the fields, the coverage level will not be listed for the employee. If a coverage level should not have a premium or employer credit, enter zero/0. Other coverage/rate templates can provide benefit amount divisors to divide the coverage by before applying premium cost or age bands.
- If you only have a monthly premium and need the annual, you can enable "Multiply premium and credit values entered by 12 upon saving. Note: Only the selected coverage levels will be annualized, not all coverage levels." and enter the monthly premiums into the provided fields instead.
Next Article
The next article is Step 4 - Premium/Benefit Rules