Manage Premiums By Salary

Use Manage Premiums By Salary screen to set up premium amounts for employee salary ranges.

If your company has benefit plans for which premium amounts differ by salary group, you can use this screen to set up codes, related descriptions, and other information that will be used in determining premiums for medical benefits. This table contains premium rates based on employee salary.

You can apply this information to a benefit plan by entering the Rate Table Code in the Rate Table column on the Coverage Options subtask of the Manage Benefit Plans screen under the following conditions:

  • You selected the Rate Table option in the Premium Calculation Method group box in the Coverage Options subtask of the Manage Benefit Plans screen;
  • You selected the Salary option in the Premium Table group box in the Coverage Options subtask of the Manage Benefit Plans screen; and

You should enter the information on premium amounts by salary before trying to set up a benefit plan that will be using this table. However, you can add to this table at any time, and you can establish an unlimited number of records.