General Settings in Group Benefit Plans

To establish the basic parameters of the group benefit plan, use the Group Benefit Plans form. The Offer Type is required if your organization uses Benefits Enrollment.

Enter the Benefit Plan ID. If you are creating a new plan, use an ID that briefly describes the plan.

Enter the Plan Description.

Select the Insurance Class (Medical, Dental, or Vision) that indicates the type of coverage this plan provides. This affects which panels display, what fields are available, and the calculation method the system uses in deriving the premium for the benefit plan.

Enter the Payee ID of the benefits provider that receives the deducted amounts. If you need to define a new payee for this benefit provider, open the Actions menu and select Payees.

Select the Cost Basis associated with any premiums and contribution amounts for this benefit plan. Refer to this field when changing premium rates or assigning employee overrides.

Note: Some companies offer their employees a set amount of life insurance coverage, and the option to buy more at the employee's expense. The manual premium calculation allows you to manually enter the employee's individual premium and contribution on the employee enrollment record. Manual premiums can also apply to some medical plans that do not have set premiums.

Select the Manual Calculation method (Fully Automatic Calculation, Coverage & Premiums Entered Manually, Coverage Entered Manually), which indicates how users enter the plan's coverage and premiums.

Enter the payroll Deduction Code for the post-tax deduction.

Enter the Offer Type if you want to include the benefit plan in benefits and open enrollments in Benefits Enrollment. Offer types classify the benefit plan and assure that the plan displays correctly in enrollment workflows. (PrismHR Benefits Enrollment only.)

For a medical, dental, or vision plan, select Medical (MED), Dental (DEN), Vision (VIS).