Previous Salary or Volume-Based Benefits
Short Term and Long Term Disability plans may be offered as company-paid or voluntary. Available Types include: Short Term Disability, Short Term Disability Buy-up, Voluntary Short Term Disability, Long Term Disability, Long Term Disability Buy-up and Voluntary Long Term Disability. See plan summary for details.
- Buy-up plans are offered if a company-paid plan is provided with the option of adding additional coverage on a voluntary basis is offered.
- Disability plans are generally employee only and not offered to dependents.
To set up a Disability Plan Profile, see the following:
- In Min Age, enter the minimum age an employee must reach to be eligible for STD or LTD coverage.
- In Through Age, enter the maximum age an employee can reach to remain eligible for STD or LTD coverage.
- Age Determination rules may apply. See Age Determination Options for details.
Rate is determined per unit and based on either a benefit or earnings amount.
- RATE TYPE options include:
- Tier for large group composite plans. Tier-Table is used for plans that use different rates for ages and coverage tiers.
- Table is used for plans that use different rates for the ages of each participant.
- All ages are based on the Age Determination rule on the Plan Eligibility page.
- In some cases, the RATE ADJUSTMENT FACTOR is based on a carrier's Risk Adjustment Factor and is different than 1.0.
- If this is the case, you would choose Total Rate.
- The RAF would then be imported into the BENEFIT COST FACTOR field in each employee's Profile > Coverage page.
- Add RATE ADJUSTMENT FACTOR if applicable.
- Add PER UNIT cost.
- For RATE BASIS, choose on what basis the PER UNIT is determined.
- Choose appropriate RATE TYPE as Tier, Table or Tier-Table.
- Add Rate.
- Either Tier or Table Contribution Types can be used.
- Choose Employer or Employee as CONTRIBUTION TYPE.
- Choose either Tier or Table as CONTRIBUTION DETAIL.
- Add Contribution as a percentage or dollar amount.
- Add Employer Max as a dollar amount.
- This can be used if the employer pays a percentage of the premium but only up to a maximum $ amount.
- If an employer has chosen to provide a specified initial contribution for employees, add it in EMPLOYER PAYS INITIAL BENEFIT AMOUNT.
Continue to Add Plan Forms and Documents.