Difference between revisions of "BenSelect:Admin:Plan:Rates:Flex"
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<li>Medical – EE Cost is $100 | <li>Medical – EE Cost is $100 | ||
<li>Dental – EE Cost is $35 | <li>Dental – EE Cost is $35 | ||
| − | <li>Vision – EE cost is $25 | + | <li>Vision – EE cost is $25</li> |
With the $150 employer contribution through the FLEX engine, the employee costs would potentially become: | With the $150 employer contribution through the FLEX engine, the employee costs would potentially become: | ||
| + | |||
<li>Medical – EE Cost is $0 | <li>Medical – EE Cost is $0 | ||
<li>Dental – EE Cost is $0 | <li>Dental – EE Cost is $0 | ||
| − | <li>Vision – EE cost is $10 | + | <li>Vision – EE cost is $10</li> |
The balance of funds available is applied to each applicable plan until the money runs out, which in this case leaves only Vision with a small remaining EE Cost. Depending on the amounts and settings, you could end up with a surplus. So, if the contribution plan had a starting balance of $500 and was using these same benefits, the EE cost would be reduced to zero for everything and there would be a left-over amount of $340. You can set up the plan to keep or lose any overage when this happens. | The balance of funds available is applied to each applicable plan until the money runs out, which in this case leaves only Vision with a small remaining EE Cost. Depending on the amounts and settings, you could end up with a surplus. So, if the contribution plan had a starting balance of $500 and was using these same benefits, the EE cost would be reduced to zero for everything and there would be a left-over amount of $340. You can set up the plan to keep or lose any overage when this happens. | ||
| + | |||
| + | ==Creating a Defined Contribution Plan== | ||
| + | #To create this plan type, go to the Benefit Plans section of the case and click the “New” button at the bottom of the page. | ||
| + | #Complete the Plan Name, XML Tag Name, Type, Engine (BenefitAgent Flex), and Order Number fields, and then click “Save” at the bottom: | ||
| + | #Go to the Payer Products tab and select a product associated with the Flex engine. (If a product doesn’t already exist for this engine, you will have to add that to the Product Library first, but then you can select that product on the Payer Products tab of the plan.) | ||
| + | #Go to the Rates tab. | ||
| + | #Set the Default Credit for each coverage tier. | ||
| + | #Next, choose which plans this credit applies to. By default, all available plans will be listed, but you can use the delete option if you want to remove them from consideration. | ||
| + | #Delete any plans from the list which doesn't have the credit applied. | ||
| + | #Last, choose if the unused credit (if any) is kept or lost. The system defaults to “Use it or Lose it” as that is by far the most common, but there is an option to keep the difference. | ||
| + | #Save your changes. | ||
Latest revision as of 16:53, 6 February 2026
The BenefitAgent Flex Engine allows for employer contributions to be applied to any of the plan/products being offered in your case. The dollar amounts you set within this engine will directly offset the plan’s cost from the employee and move it onto the employer.
For example, if you set this contribution plan up with an available dollar amount of $150 per pay period, then $150 per pay period would be moved from employee to employer cost based on your configuration. As an example, consider a case offering Medical, Dental, and Vision plans broken down as follows:
With the $150 employer contribution through the FLEX engine, the employee costs would potentially become:
The balance of funds available is applied to each applicable plan until the money runs out, which in this case leaves only Vision with a small remaining EE Cost. Depending on the amounts and settings, you could end up with a surplus. So, if the contribution plan had a starting balance of $500 and was using these same benefits, the EE cost would be reduced to zero for everything and there would be a left-over amount of $340. You can set up the plan to keep or lose any overage when this happens.
Creating a Defined Contribution Plan
- To create this plan type, go to the Benefit Plans section of the case and click the “New” button at the bottom of the page.
- Complete the Plan Name, XML Tag Name, Type, Engine (BenefitAgent Flex), and Order Number fields, and then click “Save” at the bottom:
- Go to the Payer Products tab and select a product associated with the Flex engine. (If a product doesn’t already exist for this engine, you will have to add that to the Product Library first, but then you can select that product on the Payer Products tab of the plan.)
- Go to the Rates tab.
- Set the Default Credit for each coverage tier.
- Next, choose which plans this credit applies to. By default, all available plans will be listed, but you can use the delete option if you want to remove them from consideration.
- Delete any plans from the list which doesn't have the credit applied.
- Last, choose if the unused credit (if any) is kept or lost. The system defaults to “Use it or Lose it” as that is by far the most common, but there is an option to keep the difference.
- Save your changes.
