How to start the coverage and rate calculation of a Benefit Plan from the day of the Overriding the
We have a requirement where the Benefit Elections will be sent a third party for Optional Life Insurance 2x-4x of annual salary and only after their approval/denial,the coverage and rate calculation will start.
So I want the rate and coverage should be started on the effective date of the Override made by the Benefit administrator for the employee.
Eg,the Employee enrolled on 2/2/2021 and the Elections were closed on 3/3/2021. The Approval/denial from third party came on 4/4/2021. So the Rate and coverage for that plan should start from 4/4/21.
I also would want to know if we can update the overrides for the Employees in bulk through a process as the clients are reluctant on the approach of doing for every person manually.