Round Contribution Amount {optional}#
This component enables the calculated contribution amount to be rounded up or down to the <BC Value> specified (e.g. 0.01). Used to indicate that it is the employer who picks up the odd one cent when a premium is not divisible exactly in half.
If the premium is not evenly divisible by the processing frequency should the employer pick up the extra cent?
Yes: Continue with rule 1
No: Go to next question
Round the contribution amount up?
Yes: Choose the rule to be used
No: Go to B0840
| Rule | Description | Logic | Assoc. | Go to | |
|---|---|---|---|---|---|
| 01 | Company picks up extra cent | Specify the rounding factor on the component (e.g. 0.01) in the <BC Value> field. Adds the extra cent to the contribution amount when the premium is split between the company and the employee and the result is not exact cents. i.e. If the premium were $132.69/mo and the split was 50/50 between the employee and the company the amounts would be $66.345. Rounding the company portion would mean that the employee pays $66.34 and the company’s portion is $66.35. | [B0840 | BC-B0840] | |
| 02 | Rounded to the Nearest Cent | Specify the rounding factor on the component (e.g. 0.01) in the <BC Value> field Rounds the deduction amount to the newest cent when the dollar amount calculated is more than two decimal places. | [B0840 | BC-B0840] | |
| 03* | Rounded Down to the Next Cent | Specify the rounding factor on the component (e.g. 0.01) in the <BC Value> field Rounds the deduction amount down to the next cent when the dollar amount calculated is more than two decimal places | [B0840 | BC-B0840] |
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