Use this subtask to enter an unlimited number of coverage options for this benefit plan. You can enter coverage and premium amounts either by specifying the rate or coverage table, or by entering the actual amount.
This subtask is an essential part of the Manage Benefit Plans screen. You must enter coverage options information before you can establish benefit packages or benefit package defaults. Entering information in this subtask is part of the first step in setting up any new benefit package.
This non-editable field displays the benefit plan code you entered on the main screen. The code's description is displayed in the field to the right of the code.
Use this group box to determine whether coverage amounts will be calculated using an amount, factor, or coverage table, and how the premium will be calculated if you are using an amount, factor, or coverage table.
Use this drop-down list to determine the method by which coverage amounts are calculated.
Amount — Select this option if you want the amount entered in the Coverage Factor/Amount column to be used as the actual amount. When you select this option, the Table group box and the Coverage Table column is disabled. This is the system default.
Factor — Select this option if you want the value entered in the Coverage Factor/Amount column to be multiplied by the employee's salary to determine coverage. When you select this option, the Table group box and the Coverage Table column are disabled.
Coverage Table — Select this option if you want to use the Coverage Amounts by Age or Coverage Amounts by Salary tables to calculate coverage. If you select this option, the Table group box is enabled, and the Coverage Factor/Amount column is disabled.
None — Select this option if coverage amounts do not apply. This will be common for health insurance benefits.
Use this drop-down list to indicate which table to use for calculating coverages. This group box will be enabled only if you selected the Coverage Table option in the Coverage Calculation Method group box.
Salary — Select this option to use the Coverage Amounts by Salary table for calculating coverage. You can then assign the applicable coverage table code to all coverage options.
Age — Select this option to use the Coverage Amounts by Age table for calculating rates. You can then assign the applicable coverage table code to all coverage options.
None — Select this option to use no coverage tables. The actual amount or a factor will be entered for each coverage option. This option is automatically set as the default if you select any option other than Coverage Table in the Coverage Calculation Method group box.
Use this drop-down list to determine whether premium amounts will be calculated using an amount, factor, or coverage table, and how the premium will be calculated if using an amount, factor, or coverage table.
Amount — Select this option if you want the amount entered in the Premium column to be used as the actual monthly amount. Selecting this button will disable the Premium Table group box and enable the Premium, Company Amount, and Employee Amount fields in the table.
Cost Per $1,000 — Select this option if you want the amount entered in the Premium column to be used as the cost per $1,000 amount. Selecting this button disables the Table group box and enables the Premium, Company Amount, and Employee Amount fields in the table.
Rate Table — Select this option to use the Premium Amounts by Age table or Premium Amounts by Salary table to calculate rates. Selecting this button enables the Table group box and the Rate Table column. In addition, the Premium, Company Amount, and Employee Amount fields in the table window are disabled.
Use this drop-down list to indicate which table to use for calculating rates. This group box is enabled only when you select the Rate Table option in the Premium Calculation Method group box.
Salary — Select this option to use the Premium Amount by Salary table for calculating rates. You can then assign the applicable salary rate code to all coverage options.
Age — Select this option to use the Premium Rates by Age table for calculating rates. You can then assign the applicable age rate code to all coverage options.
None — If you select this option, no rate tables is used. The actual amount will be entered for each coverage option. This is the system default.
Use this group box to enter a code for the pay type that will be used for the cash out option for this benefit plan, if a cash out option is available.
Enter, or click 
to select, the code for the pay type to be used for the cash out option for this benefit plan, if a cash out option is available. If an employee elects a cash out option, this pay type is used to add the cash out amount to the employee's paycheck. This must be a Benefit Reimbursement pay type, and it will be treated as fully taxable, unless otherwise indicated on the Configure Pay Type Taxability screen. This field is required if this benefit plan has a cash out option.
After selecting the 
button on the toolbar, enter the date, in MM/DD/YYYY format, on which this coverage option begins. This is a required field.
Enter the date, in MM/DD/YYYY format, on which this coverage option ends. This is a required field.
Enter, or click to select, the code for this coverage option. This code is validated against the Coverage Options table. If you want to assign a cash out value to a benefit plan, you must enter only one line in this table with a Coverage Option of NO CVG. The only time the Cash Out Amount column is enabled is when you enter a Coverage Option of NO CVG. This field is required.
This non-editable field displays the name or description of the coverage option you entered. If you entered NO CVG in the Coverage Option field, the description No Coverage displays.
Enter, or click to select, the deduction code that applies to this coverage option. This code is validated against the Deductions table in Costpoint Payroll. An employee electing this coverage option will be assigned this deduction code. You cannot use a code more than once in this table and it must be flagged as a deduction in the Deductions table. It cannot be a benefit package, and the deduction type must correspond to the system benefit type:
|
System Benefit Type |
Deduction Type |
|
Health |
Health Care Benefit |
|
Dental |
Dental Care Benefit |
|
Life |
Life Insurance Benefit |
|
Vision |
Vision Care Benefit |
|
Disability |
Disability Plan Benefit |
This field is required unless you entered NO CVG in the Coverage Option column.
This non-editable field displays the description or name of the deduction code you entered.
Select this check box if the Benefit Plan/Coverage Option combination offers minimum essential coverage to the employee and, where applicable, his/her spouse and dependents. This value will be used in the Affordable Care Act reporting of form 1095-c. Please see U.S. government regulations for a definition of “minimum essential coverage”.
Select this check box if the Benefit Plan/Coverage Option combination provides the minimum value to the employee and, where applicable, his/her spouse and dependents. This value will be used in the Affordable Care Act reporting of form 1095-c. Please see U.S. government regulations for a definition of “minimum value”.
Select this check box if a dependent or dependents are eligible and required for the Benefit Plan/Coverage Option combination. If you select this check box, the Dependent Type drop-down list will be enabled and set to All. You will have the ability to update the Dependent Type. Use the Dependent Type combo-box to select the type of dependent or dependents that are eligible and required for the coverage.
If selected, you will be reminded to assign a dependent to the benefit plan when you link the employee to the Benefit Plan and Coverage Option in Costpoint.
ESS users must select the appropriate dependent or dependents when electing the coverage.
If you selected the Dependent(s) Eligible and Required check box, you must select a dependent type. Selected dependents must have the same benefit plan as the employee. Valid options are:
Any — Select this option for anything else. Costpoint checks to make sure that one or more dependents of any type have been selected.
Children — Select this option for any qualified children or step-children.
Family — Select this option for a spouse and at least one child or step-child.
Group — Select this option for two or more of any type of dependent.
One — Select this for one dependent of any type.
Spouse — Select this option for a spouse.
None – No dependents may be assigned to the coverage
If you selected the Factor option in the Coverage Calculation Method group box, enter the factor by which an employee's salary must be multiplied for this coverage option.
If you selected the Amount option in the Coverage Calculation Method group box, enter the amount of coverage for this option. You can enter an amount as large as $999,999,999,999.00.
This is a required field if you selected either the Factor or the Amount option in the Coverage Calculation Method group box.
Enter, or click to select, the code for the coverage table that applies to this coverage option. This field will be validated against the option you selected in the Coverage Table group box and the Coverage Amounts by Salary table or the Coverage Amounts by Age table, depending on your selection. This field is required only if the Coverage Table option is selected in the Coverage Calculation Method group box.
Enter, or click to select, the code for the rate table that applies to this coverage option. This field will be validated against both the option you selected in the Premium Calculation Method group box and the Premium Amount by Salary table or Premium Amount by Age table, depending on your selection. This field is required unless you selected the None option in the Premium Calculation Method group box.
If you selected the Amount option in the Premium Calculation Method group box, enter the amount of the monthly premium for which the employee is responsible. This field is required only if you selected the Amount option in the Premium Calculation Method group box.
If you selected the Amount option in the Premium Calculation Method group box, enter the amount of the monthly premium for which the employee is responsible. This field is required only if you selected the Amount option in the Premium Calculation Method group box.
If rate tables are not being used, enter the monthly premium amount for this coverage option. This field is required if you selected either the Amount or Cost Per $1,000 option in the Premium Calculation Method group box. This amount will be treated as either a straight amount or a cost per $1,000, depending on your selection. You may enter an amount as large as $999,999,999,999.00.
Enter the percentage, in XXX.XX format, of the premium the employee must pay. If you selected either the Cost Per $1000 or Rate Table option in the Premium Calculation Method group box, this field is required. Otherwise, this field is optional.
Enter the percentage, in XXX.XX format, of the premium the company will pay. If you selected either the Cost Per $1000 or Rate Table option in the Premium Calculation Method group box, this field is required. Otherwise, this field is optional.
If a cash out option is available for this benefit, and you have entered NO CVG in the Coverage Option column, enter the cash amount for which this benefit may be traded.
Select this check box if the Employee Premium Amount specified in the Amounts/Tables group box is not the amount that is ultimately paid by the employee due to an offset done through Payroll. An example of this is the Health and Welfare fringe benefit requirement for the covered Service Contract Act (SCA) employees. If this check box is selected, you must enter the monthly premium amount ultimately paid by the employee in the Override Employee Amount data field.
If the monthly Employee Amount is not the amount that is ultimately paid by the employee due to an offset done through Payroll, then enter the monthly premium amount ultimately paid by the employee. This is the amount that will be used for Affordable Care Act 1095-C reporting. It will only be used for 1095-C reporting and will not be used to deduct the premium from the employee.