Benefit Reduction Percentage {optional}#
This component applies a percentage reduction to the coverage amount based on the application of a reduction rule.
Is the coverage to be reduced based on a reduction rule?
Yes: Choose the rule to be used
No: Go to B0470
| Rule | Description | Logic | Assoc. | Go to |
|---|---|---|---|---|
| 01 | Based on Reduction Percentage | Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the employee is on waiver. | B0470 | |
| 02* | Based on Employee’s Age | Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the employee has a benefit reduction due to age. | B0470 | |
| 03 | Based on Spouse's Age | Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the spouse has a benefit reduction due to age. | B0470 | |
| 04 | Based on Employee Age as of DD-MON of the Current Year | Multiplies the coverage value by the reduction percentage found on the Reduction Rule form when the employee has a benefit reduction due to age as of a certain date on the current year. Enter DD-MON in the 'Value' field of the Benefit Components Tab in IBPN (i.e. '01-JUL'). | B0470 |
