How to update insurance benefits plans rates

Note: Ensure all benefit insurance plans have valid values in the required fields for the Update Benefits function to process correctly.

• Plan Is In Effect From/To date fields
• Current Amounts Went Into Effect On Date field

Note: Ensure all employee assigned benefit plans have applicable values for the fields listed below for the 'Update Benefits' function to process correctly.

• Employee Coverage Begins Date field
• Employee Coverage Ends Date field
• Latest Change to Amounts Date field

1. From the Navigation Pane, Select Setup, Employees, Benefits and Insurance Plans.
2. Select the benefit plan and review its details.
3. Update rates on the Employee Premium, Dependent Premium and Employee Contribution tabs. If the rate is calculated by using a rate table, make the corrections on the rate table.

To change rate table, go to Rules, HR, Benefits, Rate Tables. Highlight and detail the Rate table and make the necessary changes on the Rate Table Tab.

 NOTE: Run open payroll if benefits are linked to payroll deductions.