Coverage Restriction on Benefit Plans Question
Hello All,
I am looking for some info on option restrictions in order to limit changes to an option in our optional life insurance plan.
The plan has three options 1x, 2x, and 3x. Anyone can enroll in 1x without certification, and anyone enrolling in 3x must provide certification.
The issue that I am having is restrictions set up at the 2x level. I need for first time entrants enrolling in 2x not to be restricted but current employees in the plan that are increasing from 1x to 2x need to be restricted. It looks like there may be a fast formula for this, but I have heard that it can be done without a formula.
I am looking for some info on option restrictions in order to limit changes to an option in our optional life insurance plan.
The plan has three options 1x, 2x, and 3x. Anyone can enroll in 1x without certification, and anyone enrolling in 3x must provide certification.
The issue that I am having is restrictions set up at the 2x level. I need for first time entrants enrolling in 2x not to be restricted but current employees in the plan that are increasing from 1x to 2x need to be restricted. It looks like there may be a fast formula for this, but I have heard that it can be done without a formula.
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