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Rates not getting updated based on Age changed for optional plans

edited May 5, 2025 12:56PM in Benefits 10 comments

Summary:

Hi,

We have two optional plans for which the rates are based on age of the employee. If the employee moves to a different age band, then their premiums will be changed.

I Understand, Age change life event should take care of this, however, we have fast formula to calculate the rate based on age. Could anyone advise how we manage the rates when employee moves in a different age band?

Thanks,

Nancy

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