Additional Flexibility in Oracle Advanced Benefits Product for Health Care Reform
Last updated on JUNE 07, 2017
Applies to:Oracle Advanced Benefits - Version 22.214.171.124 and later
Information in this document applies to any platform.
*** Checked for relevance on 19-Mar-2015 ***
With the introduction of Health Care Reform, benefits plans and employer contributions are changing and therefore the benefits programs, plans and rates need to be more flexible in order to meet needs and comply with regulatory mandates.
- Entering an annual amount upon plan enrollment and calculate a per pay period employee rate.
- On that same plan permit a non-enterable annual amount for the employer rate with no calculation.
- Enable the defined amount to displayed in self service benefits (SSBEN).
- Display annual employer rate on SSBEN overview page and confirmation statement.
- Display the employee per pay period and annual amount in SSBEN.
- Display the employer annual amount in SSBEN in a clear and understandable format that cannot be misinterpreted or misconstrued.
In an effort to minimize the financial impact on employees who are enrolling in the new plans, an annual employer contribution for Health Savings Accounts is offered. The employee contributes per pay period.
In OAB the employer standard rate is set to once and attached to a non-recurring element. However the internal forms continue to calculate per pay period and displays an incorrect annual total.
The amount displayed in self service benefits is also incorrect, different from the internal forms view and confusing for employees, thus posing a potential liability to the employer.
The communicated amount [half the annual contribution] is displayed as the per pay period amount and the employer column sum is incorrect.
The employee could easily misinterpret the employer contribution to be a much greater amount.
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