Let's Reconnect, thank you for making 2022 our best year yet.

Look Back
Will the rates and coverage of a Compensation based Coverage plan change when the salary of an Emplo — Cloud Customer Connect
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

Will the rates and coverage of a Compensation based Coverage plan change when the salary of an Emplo

Received Response
11
Views
4
Comments
edited Apr 7, 2021 4:24AM in Benefits 4 comments

Content

We have a Disability Plan where the coverage is 0.6 of the Annual Compensation and the rate is a multiplier of the Coverage.

Now if the Employee's salary changes without any life event occuring. Will the rates and coverage automatically change or will it happen only if the Employee has a qualifying life event and reenrolls.

If it changes,will that reflect in the next Element entry and Benefit Extracts?

FYI,the plan is an automatic enrollment for all eligible Employees.

Tagged:

Howdy, Stranger!

Log In

To view full details, sign in.

Register

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