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Benefit Plan Types
A Benefit Plan Type allows you to link the benefit type to a benefit plan. This linkage clearly defines the different types of categories offered to an employee under that Benefit Plan.
- A Benefit Plan plan can have unlimited plan types.
- Plan types can be used for any benefit plan.
How does it work?
Click on New Benefit Plan Type and enter the information as defined below.
Enter New Benefit Plan Type
Benefit Type Code and Benefit Type Description: Select the Benefit Type from the drop down list.
Benefit Plan ID and Benefit Plan Name: Select the Benefit Plan from the drop-down list.
Health Plan: The flag here is displayed based on what was selected when creating the Benefit Plan. In this example, the plan was flagged as Yes for Health Plan. The flag cannot be changed from this screen.
Percent or Cash: Flag whether the contributions that either the Employee or Employer makes towards the plan is entered in cash or based on a percentage of the employee's earnings. ( The calculation of the percentage of earnings is further defined in the benefits-payroll linkage screen). In this example above, the contributions are made in cash. This flag is set for ALL employees enrolled in the plan.
Employee Contribution
Amount: If the Employee contributes towards the plan, enter the value amount here as either cash or a percentage, based on the previous flag which was set for the Benefit Plan Type.
Allow Edits: If the employee can edit the amount from the self service module, select Yes. Otherwise, select No.
Employer Contribution: If the employer is to contribute to the plan, please enter the amount/figure here.
Amount: If the Employer contributes towards the plan, enter the amount here as either cash or percentage base on the previous flag which was set for the Benefit Plan Type.
Allow Edits: If the employee can edit the amount from the self service module, select Yes. Otherwise, select No.
Sum Insured
Amount: This value is typically applied to non-life insurance policies. It is the reimbursement or compensation of an insured loss. Enter the value here taken from the plan policy details.
Allow Edits: If the employee can edit the amount from the self service module, select Yes. Otherwise, select No.
Termination on: Select one of the choices from the drop-down list to indicate what condition must be satisfied for employees to be terminated from the plan. The options include Retirement, Death, Disability, Severance or Other.
If Other, please specify: If ‘Other’ is chosen in the Termination On field, please specify under what conditions the benefit plan is to be terminated.
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