Benefits Terminology#
[A]#
No Terminology
[B]#
- Benefit Components
- specify all of the rules, usercalcs, elements, field values, factors, and constants associated with a benefit plan.
- Benefit Election
- allow users to elect multiple coverages for an employee on one form.
- Benefit Enrollment
- indicate an employee's participation in a benefit plan, or confirm explicitly that coverage has been declined.
- Benefit Lines
- are transaction records for coverage components. They indicate premiums, contributions, deductions, taxable benefits and calculated sales taxes, adjustments to the enrollment records and the remittance history.
- Benefit Recipients
- are contacts associated with an employee's coverage under the benefit plan. They are usually dependents, beneficiaries or bond owners. An employee contact is a person an employee specifies as their spouse or partner, their person to contact in case of emergency, or their dependent or beneficiary for benefit purposes.
- Benefit Schedules
- define the plan and coverage options available to an entity, unit, group or individual, and are based on the employment status.
- Benefit Plan Types
- define the major categories of plans for which the organization has specific coverages. Benefit plan types are usually broad categories like 'Health', 'Dental' and 'Life Insurance'.
- Business Contacts
- are usually people from outside the organization such as trainers and instructors, sponsors, plan administrators, representatives, recruiters, etc.
[C]#
- Calendars
- are schedules, which define periods of time needed to plan and manage human resources’ activities such as monthly benefits administration. Annual, fiscal, quarterly, monthly and weekly calendars are used for a variety of purposes, and they may begin and end at any point during a calendar year.
- Coverage Details
- are the date sensitive changes to the components, rates, and reduction rules of the coverage.
- Coverages
- are the different plans or insurance options available to an employee, i.e. Life, Health, Dental, etc.
[D]#
No Terminology
[E]#
- Enrollment Components
- contain a person's detailed values for the coverage components. These are used to maintain enrollments after the elections have been made.
- Enrollment Details
- contain date sensitive coverage changes.
[F]#
No Terminology
[G]#
No Terminology
[H]#
No Terminology
[I]#
No Terminology
[J]#
No Terminology
[K]#
No Terminology
[L]#
- Life Event
- an event that took place in an employee's personal life that requires a change in their benefits. An example, is marriage.
[M]#
No Terminology
[N]#
No Terminology
[O]#
- Open Enrollment
- a method that allows employees to review their benefit election options and elect in plans/coverages that suit their needs.
[P]#
- Plan Definitions
- define all the benefit programs and insurance policies an organization has in place.
- Processing Frequencies
- define the condition under which a payroll item (deduction, benefit, etc.) is processed.
[Q]#
No Terminology
[R]#
- Remittance History
- tracks the number of participants on each coverage step by remittance period. It also allows adjustments to be done after the remittance update has been done but before the remittance reports have been run.
- Remittance Reports Rules
- identify the different carrier and organization reports required to track and reconcile enrollments, premiums, contributions and deductions.
- Recipient Type
- defines what type of recipient is eligible to be elected for a particular benefit coverage.
[S]#
No Terminology
[T]#
No Terminology
[U]#
No Terminology
[V]#
No Terminology
[W]#
- Work Event
- an event has occurred in the employee's work life that requires a change to their benefits. For example the employee changed positions which changed their job/group which affected the benefit plans the employee was eligible for.
[X]#
No Terminology
[Y]#
No Terminology
[Z]#
No Terminology
