The system will first check to see what Rate Basis the costs are by checking the Rate Basis field in the Coverage Details of IBPN. Using that basis, the system will first calculate the annual cost and will then calculate the monthly cost. To determine the period costs the system will use the Times Per Year amount defined for the Open Enrollment type Pay Category.
The following scenarios depict how the Year, Month, Period costs are calculated using different rate basis. Each scenario uses a different frequency.
Scenario: EE Deduction Rate of 22.60, Frequency is Bi-weekly (Times Per Year is 24)#
| Rate Basis | Year | Month | Period |
|---|---|---|---|
| YR | $22.60 (22.60 * 1) | $1.88 (22.60 / 12) | $0.94 (22.60 / 24) |
| MO | $271.20 (22.60 * 12) | $22.60 (271.20/ 12) | $11.30 (271.20 / 24) |
| SM | $542.40 (22.60 * 24) | $45.20 (542.40 / 12) | $22.60 (542.4 / 24) |
| BW | $587.60 (22.60 * 26) | $48.97 (587.6 / 12) | $24.48 (587.60 / 24) |
| WK | $1,175.20 (22.60 * 52) | $97.93 (1 175.2 / 12) | $48.97 (1 175.20 / 24) |
| DY | $5,876.00 (22.60 * 260) | $489.67 (5 876 / 12) | $244.83 (5 876 / 24) |
| HR | $47,008.00 (22.60 * 2080) | $3,917.33 (47 008 / 12) | $1,958.67 (47 008 / 24) |
Scenario: EE Deduction Rate of 22.60, Frequency is Bi-Weekly (Times Per Year is 26)#
| Rate Basis | Year | Month | Period |
|---|---|---|---|
| YR | $22.60 (22.60 * 1) | $1.88 (22.60 / 12) | $0.87 (22.60 / 26) |
| MO | $271.20 (22.60 * 12) | $22.60 (271.20/ 12) | $10.43 (271.20 / 26) |
| SM | $542.40 (22.60 * 24) | $45.20 (542.40 / 12) | $20.86 (542.4 / 26) |
| BW | $587.60 (22.60 * 26) | $48.97 (587.6 / 12) | $22.60 (587.60 / 26) |
| WK | $1,175.20 (22.60 * 52) | $97.93 (1 175.2 / 12) | $45.20 (1 175.20 / 26) |
| DY | $5,876.00 (22.60 * 260) | $489.67 (5 876 / 12) | $226.00 (5 876 / 26) |
| HR | $47,008.00 (22.60 * 2080) | $3,917.33 (47 008 / 12) | $1,808.00 (47 008 / 26) |
Screen captures are meant to be indicative of the concept being presented and may not reflect the current screen design.
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