Two Coverage Amounts Under One Automatic Employer-Paid Benefits Plan

Summary:

Hi all,

I’m working on configuring an automatic employer-paid Whole Life + Long-Term Care (LTC) benefit in Oracle HCM Benefits and would appreciate guidance on the best configuration approach.

Employees will automatically receive the benefit and will not be making an election for the coverage. However, the plan will be visible to employees during Benefits enrollment, and we would like the enrollment experience to clearly display both benefit amounts:

• Whole Life coverage: $10,000
• LTC benefit: $20,000, which represents 2x the original Whole Life amount

There is also an age 70+ reduction that applies to the Whole Life coverage. The Whole Life amount will reduce for employees age 70+, while the LTC benefit needs to remain at $20,000 and should not be reduced.