BENEFIT COMPONENTS
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Benefit Components specify all of the rules, usercalcs, elements, field values, factors, and constants associated with a benefit plan.
When a benefit plan is defined, there are a variety of decisions to be made for each plan:

Each of the questions shown above may become a component or several components of a benefit plan/coverage, and each component has a number of possible responses or options. In Wiki, the questions/components are called Benefit Components. The possible options/responses are the Benefit Component Rules.

As each benefit plan/coverage is created, users decide which components are necessary to define the plan. Once the components are decided, users choose which option/rule is applicable for each component.

When a plan is created, the premium needs to be defined, specifically, how much to remit, when to remit it, and how / when the premium may be taken.

These rules are held in benefit components. Users are provided with a list of possible components and the options/rules available for each one. Users decide which of the benefit components will be necessary for each benefit plan.

The benefit components allow a great deal of versatility for defining benefit plans. In cases where the existing options may not allow for every possible plan rule, the UserCalc tool has been made available. With this tool, users are given the ability to create a custom calculation to derive necessary information for the plan. Users are also given the opportunity to carry amounts calculated within benefits processing to payroll, and subsequently to employees’ pay stubs and financial ledgers. The link between benefits and payroll is established with pay components.
Benefit components are maintained in the IBBC form. All of the available BC codes and their associated options/rules are supplied with the Application software. Users may choose which rules will be available to plans, and what information may be overridden at plan entry.

The ability to delete or change information on this form is provided, however, it is strongly recommended the information on this form not be changed. These benefit components and rules are necessary for all benefit plans. If deleted here, no plan may access the component.

As well, the applicable rules are pre-defined for all components and should not be added to or edited.

Benefit Component Notes#

Bracketed words on the following pages represent the field in the Component Rules or the Enrollment form to be filled in. i.e. <User Calc>

To create any usercalcs that may be needed, please refer to the User Calculation Tool Workbook. Each component has a table to define the rules that are available. The columns in the table are described below: The standard or most commonly used rule(s) for each component is indicated by the asterisk (*) in the Rule column.

Notes on Date Benefit Components#

Benefit Component Codes#

The benefit components identified below have been grouped based on their purpose under the following subheadings:

B0005 to B0299Components for Preprocess/Qualification
B0300 to B0399Components for Eligible Earnings/Amounts
B0400 to B0499Components for Coverage
B0500 to B0599Components for Coverage Step
B0600 to B0699Components for Premium
B0700 to B0729Components for Premium Tax (Canadian Installations Only)
B0730 to B0799Components for Self-Insured Admin Fees, Deposit Liabilities and Contract Amounts
B0800 to B0899Components for Employer Contributions
B0900 to B0929Components for Employer Sales Tax (Canadian Installations Only)
B0930 to B0999Components for Flexible Benefit Fund Amount
B1000 to B1099Components for Employee Deduction
B1100 to B1129Components for Employee Sales Tax (Canadian Installations Only)
B1130 to B1199Components for Self-Insured Deposit and Retro Amounts
B1200 to B1299Components for Taxable Benefit
B1300 to B1399Components for Bond Plan Amounts
B1400 to B1599Components for Remittance Adjustment Components

Although the sheer number of options may seem daunting, not all components are required for every plan. They are provided to allow complete versatility when defining policies.