Define Rates

This page allows you to record the premiums, cost for health and insurance plan categories.

If the plan category is “Health”

The system defaults the Plan Category, Plan Name and Version from the previous screen.
Select any other versions if multiple history records available for the plan.
Enter the following details.

Salary As On	If any coverage is to be calculated based on employee’s salary, the salary as on ‘Plan Begin Date’ is taken by the system. Mandatory
Pay Basis	Pay Basis is taken from ‘Base Salary’ to calculate premiums or coverage for the plan wherever required. Mandatory
Age As On	The age as on ‘Plan Begin Date’ is taken by the system to determine the eligible employees. Mandatory
Service As On	The service as on ‘Plan Begin Date’ is taken by the system to determine the eligible employees.
Rounding Option	Select the rounding option from dropdown. The system lists “Actual”, “Round Down” and “Round Up” as options.
Round To Nearest	Enter the nearest value of rounding option.
Relevant Data From	Select the relevant data from dropdown. The ‘Relevant data from’ determines if the plan is for employee, spouse or child insurance.

Employee Group	Select the employee group from dropdown for which the cost is applicable. Choose ‘All’ if the cost is same for all groups of employees.
Salary Group	Select the salary group from dropdown for which the cost is applicable. Choose ‘All’ if the cost is same for all groups of employees.
Age Group	Select the age group from dropdown for which the cost is applicable. Choose ‘All’ if the cost is same for all groups of employees.
Service Group	Select the service group from dropdown for which the cost is applicable. Please choose ‘All’ if the cost is same for all groups of employees.
Coverage Level	Select the coverage level from dropdown for which the cost is applicable.
Percentage / Amount	Select “Percentage” from dropdown if the rate has to be defined in percentage, else select “Amount”.
Employee Amount Per Month	The premium amount of the employee per month. Mandatory if “Amount” is selected above.
Employer Amount Per Month	The premium amount of the employer per month. Mandatory if “Amount” is selected above.
Premium Per Month	The total premium amount of the plan to be defined per month. Mandatory if ‘Percentage’ is selected above.
Employee (%)	The contribution of the employee in percentage. Mandatory if “Percentage” is selected above.
Employer (%)	The contribution of the employer in percentage. Mandatory if “Percentage” is selected above.

If the plan category is “Insurance Plan”

The system defaults the Plan Category, Plan Name, Version and Coverage from the previous screen.
Select any other versions if multiple history records available for the plan.
Coverage type can be “Multiplier of Pay”, “Percentage of Salary”, “Amount with increments” and “Fixed amount”.
Enter the following details.

Salary As On	If any coverage is to be calculated based on employee’s salary, the salary as on ‘Plan Begin Date’ is taken by the system. Mandatory
Pay Basis	Pay Basis is taken from ‘Base Salary’ to calculate premiums or coverage for the plan wherever required. Mandatory
Age As On	The age as on ‘Plan Begin Date’ is taken by the system to determine the eligible employees. Mandatory
Service As On	The service as on ‘Plan Begin Date’ is taken by the system to determine the eligible employees.
Rounding Option	Select the rounding option from dropdown. The system lists “Actual”, “Round Down” and “Round Up” as options.
Round To Nearest	Please enter the nearest value of rounding option.
Relevant Data From	Select the relevant data from dropdown. The ‘Relevant data from’ determines if the plan is for employee, spouse or child insurance.

Employee Group	Select the employee group from dropdown for which the coverage is applicable. Choose ‘All’ if the cost is same for all groups of employees.
Salary Group	Select the salary group from dropdown for which the coverage is applicable. Choose ‘All’ if the cost is same for all groups of employees.
Age Group	Select the age group from dropdown for which the coverage is applicable. Choose ‘All’ if the cost is same for all groups of employees.
Seniority	Select the seniority type from dropdown for which the coverage is applicable. Choose ‘All’ if the cost is same for all groups of employees.

If the Coverage Plan is “Multiplier of Pay”, the system displays the following details in the multiline.

No. of Times of Pay	Enter the number of times pay covered for the plan. Example: 2 means two times of employee’s pay
Coverage Limit	Enter the maximum coverage limit applicable.
Extended Coverage	Enter the extended coverage limit if any for exceptions.

If the Coverage Plan is “Percentage of Salary”, the system displays the following details in the multiline.

Minimum (%) of Salary	Enter the minimum percentage of salary covered by the plan.
Maximum (%) of Salary	Enter the maximum percentage of salary covered by the plan.
Extended (%)	Enter the extended percentage of salary in case of any exceptions to be made.

If the Coverage Plan is “Amount with Increments”, the system displays the following details in the multiline.

Minimum Coverage	Enter the minimum amount covered by the plan.
Increments In	Enter the increases amount for coverage amount.
Maximum Coverage	Enter the maximum amount covered by the plan.

If the Coverage Plan is “Fixed Amount”, the system displays the following details in the multiline.

Coverage

The fixed amount covered by the plan.

Click “Save” button to save the details entered in the page. System gives a double confirmation dialogue box to check for your consent, please click ‘Ok’ to save or ‘Cancel’ to go back and edit.

Note: “Save” button is not visible if the screen is launched from Edit/View mode.