Date format

The date format applicable to the login user.

Benefits Definition Unit

The benefits definition unit selected in the previous page.

Currency

The currency in which the premium is paid.

Deductible per Year (Amt)

The maximum amount that can be deducted from the employee salary for a benefit year.

Per

The value for which the deductible amount is applicable. The system will display one of the following values namely  “Individual” or “Family”

Coinsurance (%)

The percentage of coverage amount that the benefit provider agrees to contribute for the plan.

Maximum Out of Pocket Expenses (Amt)

The maximum amount that can be covered for a benefit year. 

Life Time Maximum (Amt)

The maximum amount that the employee can be covered for the entire life. 

Validity Period

The period for which the employee can be enrolled for the health plan. This period is defined under the statute.

Waiting Period

The period for which the employee has to wait before enrolling in the plan under COBRA.

Rule

The rule name that will compute the contribution amount for the employee.

Service Charge (%)

The percentage of the contribution amount that is charged by the company for the services rendered.

Premium is a Sum of Employee And Employer Contribution

“Yes,” indicates that the premium paid by the employee under the COBRA is the sum of the employee and employer contribution.

Family Coverage Description

The description of the family coverage category

Maximum Dependents Allowed

The maximum dependents allowed for the family coverage.

Applicable

“Yes” indicates that the corresponding family coverage categories are applicable to the plan.

“No” indicates that the corresponding family coverage categories are not applicable to the plan.