Different Company Contributions for Employee and Dependent Cost (Age-Banded Medical Plans)

We have updated our rate calculator for age-banded medical plans to better meet the diverse needs of our customers and expand its capabilities to support a broader range of use cases. Since its launch in January 2024, admins can designate an amount that the company contributes toward the total cost of an employee’s medical coverage, combining the costs of both employee and dependent coverage.

Companies commonly contribute different amounts toward the total cost for employee coverage compared to dependent coverage. With this update, admins can now easily manage separate company contributions for employee and dependent coverage. This will increase the usability of the age-banded rate calculator, allowing for precise and automated cost calculations.

Within the Eligibility & Cost step in the age-banded medical plan setup, clicking on the checkbox next to “Different company contributions for employee & dependents” will bring up the option to enter different company contributions, either as a percentage or dollar amount. The Employee Pays field will automatically populate the remaining amount, adding up both amounts to 100%.

As always, we love your feedback! To provide product feedback on this feature and more, head over to our product feedback page and let us know how we’re doing.