Flat Amount Rate For EE Based On Age & Salary (rounded To The Nearest 25,000 Of Salary)
(Doc ID 2491425.1)
Last updated on SEPTEMBER 09, 2020
Applies to:Oracle Fusion Benefits Cloud Service - Version 11.13.18.05.0 and later
Information in this document applies to any platform.
Flat Amount Rate for EE based on Age & Salary (rounded to the nearest 25,000 of Salary)
Employees Monthly Premium Flat Amount Rate is determined by their Age and Salary Rounded to the Nearest $25,000.
Employees Spouse Monthly Premium Flat Amount rate is determined by the Spouses Age and 50% of the Employees Salary which is rounded to the nearest $25,000.
-If Employees age is 30-34 and their rounded salary to the nearest 25,000 is $50,000 annually, the monthly flat amount rate is $4.50.
-If the Spouse of the Employees age is 30-34 and 50% of the rounded salary to the nearest 25,000 is $25,000 annually (50% of 50,000 is $25,000), the monthly flat amount rate is $2.25.
-Please see attached for Screen shot of two above Examples.
-I understand to capture the age, we will make derived factors and eligibility profiles.
-How will we assign a flat amount rate based on age AND rounded salary to the nearest $25,000?
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document