Certain fields within EaseCentral's Benefit Plans screens apply to salary-based or coverage-based benefits, such as Life/AD&D, Disability, and Critical Illness. Below we've outlined each of the fields that may apply and setup recommendations.
|Benefits > PROFILE > EMPLOYEE BENEFIT > Flat Amount||Enter the dollar amount the employee receives. This option is only used if the plan only offers one flat-dollar amount option (e.g., $25,000).|
|Benefits > PROFILE > EMPLOYEE BENEFIT >X Earnings||If the benefit offers one multiple of earnings, e.g., 1 x salary, you would enter “1” in this field.|
For STD and LTD, enter the weekly or monthly benefit as a multiple of earnings, with a minimum amount and a maximum amount. Typically the amount entered would be “.6” or "60%" or “.6667” or 67%. For example, if the LTD or STD plan is a 60% benefit up to $5,000, you would enter in the X earnings as .6 or 60%, minimum of $0, maximum of $5,000.
|Benefits > PROFILE > EMPLOYEE BENEFIT >Increments||If the plan allows an employee to choose their coverage in increments, choose this option. INCREMENT FROM is the minimum increment employees are allowed to elect. INCREMENT TO is the maximum increment employees are allowed to elect. INCREMENT BY is the increment amount. MAX X EARNINGS refers to the maximum coverage an employee can choose in multiples of salary. For example, if he/she is eligible for a minimum of $10,000 up to a maximum of $300,000 in increments of $10,000 to a max of 5x salary you would enter those options in the appropriate fields.|
|Benefits > PROFILE > EMPLOYEE BENEFIT > Custom||This would be for coverage amounts that does not follow a consistent incremental value, e.g., “$2,000; $5,000; $10,000”.|
|Benefits > PROFILE > EMPLOYEE BENEFIT > GUARANTEE ISSUE||Sets the limit of coverage an employee can elect without requiring the employee to complete an Evidence of Insurability (EOI) or Health Statement form. Coverage under this amount will be automatically approved. If an employee elects over this coverage amount, they will be prompted to download an complete an EOI or Health Statement form that we recommend you attach in the Forms page.|
|Benefits > PROFILE > EMPLOYEE BENEFIT > GUARANTEE ISSUE MAX X EARNINGS||This field is rarely used and should only be used if the plan summary specifies that the guaranteed issue is a multiple of salary. Typically the Guarantee Issue field will be populated with a dollar amount and this field will be left blank.|
|Benefits > PROFILE > EMPLOYEE BENEFIT > ROUND TYPE||If the plan allows for rounding, you are given four options: Do Not Round will be used if the carrier will not round the coverage an employee receives based on a percentage of their salary. Nearest dollar amount, Next Highest dollar amount and Next Lowest dollar amount. Rounding would only apply to plans that calculate coverage based off an increment of salary.|
|* Benefits > PROFILE > EMPLOYEE BENEFIT > ELIMINATION PERIOD||The ELIMINATION PERIOD is a period of continuous disability which must be satisfied before an employee is eligible to receive short term disability benefit payments. The elimination period begins on the day an employee become disabled and lasts a certain period of time. Please consult with the plan summary to determine Elimination Period.The elimination period is different from the plan waiting period.|
|* Benefits > PROFILE > EMPLOYEE BENEFIT > MAX PAYMENT||The maximum benefit payment period for which a benefit is payable, following completion of the elimination period, for any one disability.|
|Benefits > PROFILE > EMPLOYEE BENEFIT > Reduction||Most plans will reduce benefit amounts based on an age schedule. Reduction in EaseCentral is based on the original amount. Enter the amount the coverage will be reduced “by”. Some carriers will communicate how much the coverage will reduce “to” but your system needs the % the coverage will be reduced by.|
If the carrier communicates the % reduction from the previous age reduction instead of from the original amount, a calculation must be performed to determine the correct % reduction to be entered into EaseCentral (from original). Please see attached worksheet at the bottom of this solution. The original reduction and additional reduction amounts have to be entered in the fields in red in the worksheet and then the formulas in the rest of the cells will do the rest of the work. The % Reduction from Original amounts (bold) will then be entered in the EaseCentral fields.
Note: If the carrier stops reduction before age 80, there must be a percentage entered into age field or the coverage will calculate back to 100%.
|Benefits > RATES > PER UNIT||Usually rates are per “$1000”. The “Per Unit” amount must apply to employee, spouse, and dependent plans. If the carrier communicates rates in different unit amounts, they must be recalculated to consistent units.|
|*Fields marked with an asterisk are optional and only need to be completed if the carrier application includes a field for which this information would need to be populated and mapped from our system. Elimination Period and Max Payment Period information may be needed for Voluntary/Worksite carrier applications.|
View the Life/AD&D Plan Types solution to learn more about setting up Life/AD&D plans.