Variable Coverage Profile - Coverage Upper Limit And Age Reduction
(Doc ID 2345493.1)
Last updated on OCTOBER 16, 2023
Applies to:Oracle Fusion Benefits - Version 188.8.131.52.0 and later
Oracle Fusion Benefits Cloud Service - Version 184.108.40.206.0 and later
Information in this document applies to any platform.
We have Employee Supplemental Life, 10k increments to 700,000 or 1,000,000 depending upon who the employee is - we also cap life at 5x annualized salary rounded down to the next 10k – whichever is lower. The formula annualizes multiple assignments and works well. We are not asking for assistance here.
R13 - We use a Coverage Upper Limit formula which is attached to a variable coverage profile because that is the only place to attach this type of formula. The formula cannot be attached at the coverage level, only the variable coverage profile.
We have an age reduction coverage requirement – reduce to 60% at age 70. We see no way to meet both above requirements – coverage upper limit formula and age reduction.
We must use the variable coverage profile for the upper limit formula - so we cannot attach another age reduction, variable coverage profile to the same coverage.
The only workaround we can see is to manually figure out who is age 70 and to use the override form to reduce coverage.
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