Use this subtask to enter an unlimited number of coverage options for this benefit plan. You can enter coverage and premium amounts either by specifying the rate or coverage table, or by entering the actual amount.
This subtask is an essential part of the Benefit Plan Setup screen. You must enter coverage options information before you can establish benefit packages or benefit package defaults. Entering information in this subtask is part of the first step in setting up any new benefit package.
This non-editable field displays the benefit plan code you entered in the main screen. The code's description is displayed in the field to the right of the code.
Use this group box to determine whether coverage amounts will be calculated using an amount, factor, or coverage table, and how the premium will be calculated if you are using an amount, factor, or coverage table.
Use the selections in this group box to determine the method by which coverage amounts are calculated.
Select this radio button if you want the amount entered in the Coverage Factor/Amount column to be used as the actual amount. When you select this option, the Table group box and the Coverage Table column will be disabled. This is the system default.
Select this radio button if you want the value entered in the Coverage Factor/Amount column to be multiplied by the employee's salary to determine coverage. When you select this option, the Table group box and the Coverage Table column will be disabled.
Select this radio button if you want to use the Coverage Amounts by Age or Coverage Amounts by Salary tables to calculate coverage. If you select this option, the Table group box will be enabled, and the Coverage Factor/Amount column will be disabled.
Select this radio button if coverage amounts do not apply. This will be common for health insurance benefits.
Use this group box to indicate which table to use for calculating coverages. This group box will be enabled only if you selected the Coverage Table radio button in the Coverage Calculation Method group box.
Select this radio button to use the Coverage Amounts by Salary table for calculating coverage. You can then assign the applicable coverage table code to all coverage options.
Select this radio button to use the Coverage Amounts by Age table for calculating rates. You can then assign the applicable coverage table code to all coverage options.
Select this radio button to use no coverage tables. The actual amount or a factor will be entered for each coverage option. This radio button is automatically set as the default if you select any radio button other than Coverage Table in the Coverage Calculation Method group box.
Use this group box to determine whether premium amounts will be calculated using an amount, factor, or coverage table, and how the premium will be calculated if using an amount, factor, or coverage table.
Use this group box to determine the method for calculating premium amounts.
Select this radio button if you want the amount entered in the Premium column to be used as the actual monthly amount. Selecting this button will disable the Premium Table group box and enable the Premium, Company Amount, and Employee Amount fields in the table.
Select this radio button if you want the amount entered in the Premium column to be used as the cost per $1,000 amount. Selecting this button will disable the Table group box and enable the Premium, Company Amount, and Employee Amount fields in the table.
Select this radio button to use the Premium Amounts by Age table or Premium Amounts by Salary table to calculate rates. Selecting this pushbutton will enable the Table group box and the Rate Table column. In addition, the Premium, Company Amount, and Employee Amount fields in the table window will be disabled.
Use this group box to indicate which table to use for calculating rates. This group box is enabled only when you select the Rate Table radio button in the Premium Calculation Method group box.
Select this radio button to use the Premium Amount by Salary table for calculating rates. You can then assign the applicable salary rate code to all coverage options.
Select this radio button to use the Premium Rates by Age table for calculating rates. You can then assign the applicable age rate code to all coverage options.
If this radio button is selected, no rate tables will be used. The actual amount will be entered for each coverage option. This is the system default.
Use this group box to enter a code for the pay type that will be used for the cash out option for this benefit plan, if a cash out option is available.
Enter, or use Lookup to select, the code for the pay type to be used for the cash out option for this benefit plan, if a cash out option is available. If an employee elects a cash out option, this pay type will be used to add the cash out amount to the employee's paycheck. This must be a Benefit Reimbursement pay type, and it will be treated as fully taxable, unless otherwise indicated in Pay Type Taxability screen in Costpoint Payroll. This field is required if this benefit plan has a cash out option.
After selecting the New Line button on the toolbar, enter the date, in MM/DD/YYYY format, on which this coverage option begins. This is a required field.
Enter the date, in MM/DD/YYYY format, on which this coverage option ends. This is a required field.
Enter, or use Lookup to select, the code for this coverage option. This code is validated against the Coverage Options table. If you want to assign a cash out value to a benefit plan, you must enter only one line in this table with a Coverage Option of "NO CVG." The only time the Cash Out Amount column is enabled is when you enter a Coverage Option of "NO CVG." This field is required.
This non-editable field displays the name or description of the coverage option you entered. If you entered "NO CVG" in the Coverage Option column, the description "No Coverage" is displayed.
Enter a "Y" (Yes) if dependents are required for this coverage option. If dependents are not required, enter "N" (No).
If you entered a "Y" (Yes) in the Dep Req field, you must select a dependent eligibility code. This field does not display unless you are licensed for ESS 7.15 or greater.
Selected dependents must have the same benefit plan as the employee. Valid options are:
"O" (One) - Select this for one dependent of any type.
"S" (Spouse) - Select this option for a spouse.
"C" (Children) - Select this option for any qualified children or step-children.
"F" (Family) - Select this option for a spouse and at least one child or step-child.
"G" (Group) - Select this option for two or more of any type of dependent.
"A" (Any) - Select this option for anything else. Costpoint checks to make sure that one or more dependents of any type have been selected.
Enter, or use Lookup to select, the deduction code that applies to this coverage option. This code is validated against the Deductions table in Costpoint Payroll. An employee electing this coverage option will be assigned this deduction code. You cannot use a code more than once in this table and it must be flagged as a deduction in the Deductions table. It cannot be a benefit package, and the deduction type must correspond to the system benefit type:
|
System Benefit Type |
Deduction Type |
|
Health |
Health Care Benefit |
|
Dental |
Dental Care Benefit |
|
Life |
Life Insurance Benefit |
|
Vision |
Vision Care Benefit |
|
Disability |
Disability Plan Benefit |
This field is required unless you entered "NO CVG" in the Coverage Option column.
This non-editable field displays the description or name of the deduction code you entered.
If you selected the Factor radio button in the Coverage Calculation Method group box, enter the factor by which an employee's salary must be multiplied for this coverage option.
If you selected the Amount radio button in the Coverage Calculation Method group box, enter the amount of coverage for this option. You can enter an amount as large as $999,999,999,999.00.
This is a required field if you selected either the Factor or Amount radio buttons in the Coverage Calculation Method group box.
Enter, or use Lookup to select, the code for the coverage table that applies to this coverage option. This field will be validated against the radio button you selected in the Coverage Table group box and the Coverage Amounts by Salary table or the Coverage Amounts by Age table, depending on your selection. This field is required only if the Coverage Table radio button is selected in the Coverage Calculation Method group box.
Enter, or use Lookup to select, the code for the rate table that applies to this coverage option. This field will be validated against both the radio button you selected in the Premium Calculation Method group box and the Premium Amount by Salary table or Premium Amount by Age table, depending on your selection. This field is required unless you selected the None radio button in the Premium Calculation Method group box.
If you selected the Amount radio button in the Premium Calculation Method group box, enter the amount of the monthly premium for which the employee is responsible. This field is required only if you selected the Amount radio button in the Premium Calculation Method group box.
If you selected the Amount radio button in the Premium Calculation Method group box, enter the amount of the monthly premium for which the company is responsible. This field is required only if you selected the Amount radio button in the Premium Calculation Method group box.
If rate tables are not being used, enter the monthly premium amount for this coverage option. This field is required if you selected either the Amount or Cost Per $1,000 radio button in the Premium Calculation Method group box. This amount will be treated as either a straight amount or a cost per $1,000, depending on your selection. You may enter an amount as large as $999,999,999,999.00.
Enter the percentage, in XXX.XX format, of the premium the employee must pay. If you selected either the Cost Per $1000 or Rate Table radio button in the Premium Calculation Method group box, this field is required. Otherwise, this field is optional.
Enter the percentage, in XXX.XX format, of the premium the company will pay. If you selected either the Cost Per $1000 or Rate Table radio button in the Premium Calculation Method group box, this field is required. Otherwise, this field is optional.
If a cash out option is available for this benefit, and you have entered "NO CVG" in the Coverage Option column, enter the cash amount for which this benefit may be traded.