You're almost there! Please answer a few more questions for access to the Applications content. Complete registration
Interested in joining? Complete your registration by providing Areas of Interest here. Register

Benefit Rate Start Date - Best Practice?

in Benefits 2 comments

Summary:

Hi, we have a Weekly payroll and our benefit Rate Start Date is the prior pay period ("Pay period start, before first check, on or after cover start") so a deduction is taken if coverage is active (coverage start is the LE). This easily creates Retro if their enrollment is late. We have been experiencing retro issues as we have a formula where we only take double the deduction until arrears are exhausted, to not cause financial hardship.

We are looking at ways to mitigate retro situations and I'm curious what other organizations use as their Rate State Date and best practice. Should we look at the Rate Start Date as the Pay Period following the Coverage Start Date, for example? I believe I have seen a long drop down list of options. What do you do?

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

Don't have an account? Click here to get started!