PREMIUM_PRORATED is a toggle field which if toggled ON, any premium amount that is calculated will be multiplied by the Employee's FTE factor. If the premium prorate toggle is OFF, the Employee's FTE factor will not be included in the calculation.

This is not applicable to Premium Calc rules that include time in the formula, as actual time worked is already included in those calculations.

Example: A company pays for employees’ fitness memberships; a yearly amount of $400.00. All employees may sign up for the benefit, but part-time employees receive a pro-rated amount based on their Full Time Equivalency (FTE). As well, the company would like to pay the premium at the beginning of each month. The ISPM form would be set up as follows:

In this manner, an employee with an FTE value of 0.5 would receive $16.67 /month ($200/yr).