Disability Cost Calculation Based on Total Covered Pay

This update adds a new feature to the short-term and long-term disability plan setups for admins using Benefits Administration, offering greater flexibility in calculating monthly premiums. This update enhances your ability to manage benefits effectively.

When setting up age-banded and standard rate disability plans, users can now calculate premiums based on an employee’s total salary or their coverage amount per month.
There are two options to choose from in Step 2: Coverage Options—Coverage/Benefit Amount and Total Payroll. For new plans, short-term disability plans will default to Coverage/Benefit Amount, while long-term disability plans will default to Total Payroll. However, you can edit this setting if needed, and it will only affect future enrollments, not past or current enrollments.

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.