Rates

Rate information includes rate description, effective and expiration dates, rate tier structure and commissions. You can add fully-insured or self-funded rates to plans.

Add Rates

Before you set up a commission or a split, you first need to set up at least one rate for a plan. To set up a rate for a plan:

1. Log on to BenefitPoint as a Broker user.
2. On the top navigation bar click Accounts. A list of all accounts appear.
   Locate the account you want.
3. From the Action drop-down list select Plans. A list of all plans appear.
   Locate the plan you want to edit the rates for.
4. Click the Action list for the plan, and then click Rates. Alternatively, on the Plan Info page, you can also click Rates in the secondary navigation.
5. Move the pointer over the Tasks menu, and then click Add Rate.
6. On the Add Rate page, complete any other necessary fields. Required fields are marked with an asterisk *.
7. Click Add.
8. On the Add Rate page, complete any other necessary fields. Required fields are marked with an asterisk *.
9. If you want to add a commission to this rate:
   1. Scroll down to the Commissions section.
   2. Click the Add Commission By drop-down list, and then click Creating New Commission.
      Note: The option Copying From Another Plan should be used only if you want to copy a commission from an existing plan.
   3. Click the Commission Type menu, and then select the appropriate option. The Edit Commission panel appears.
   4. Complete all the fields marked with an asterisk * since those are required, and also complete any other necessary fields.
   5. Click Add to List. This is important or you will lose your work

10. Click Save.

Edit Rates

1. Log on to BenefitPoint as a Broker user.
2. On the top navigation bar click Accounts. A list of all accounts appear.
   Locate the account you want.
3. From the Action drop-down list select Plans. A list of all plans appear.
   Locate the plan you want to edit the rates for.
4. From the Action drop-down list select Rates. The rate(s) for the plan appears.
5. From the Action drop-down list select Edit.
6. Make the appropriate changes and click Save.

Copy Rates from Within a Plan

You can copy rates within a plan when the differences are minimal difference and can be made once the rate is created.

1. Log on to BenefitPoint as a Broker user.
2. On the top navigation bar click Accounts. A list of all accounts appear.
   Locate the account you want.
3. From the Action drop-down list select Plans. A list of all plans appear.
   Locate the plan you want to add the rates to.
4. From the Action drop-down list select Rates.
5. Locate the rate you want to copy.
6. From the Action drop-down list select Copy. The copied rate now appears with the words Copy of *** in the Rate Description column.
7. From the Action drop-down list select Edit.
8. Change Rate Description to the appropriate name you want.
9. Make all the other changes you want and click Save.

Copy Rates from Another Plan

In BenefitPoint you can copy existing Rates from another configured plan.

1. Log on to BenefitPoint as a Broker user.
2. On the top navigation bar click Accounts. A list of all accounts appear.
   Locate the account you want.
3. From the Action drop-down list select Plans. A list of all plans appear.
   Locate the plan you want to add the rates to.
4. From the Action drop-down list select Rates.
5. Click Tasks on the right and select Add Rate.
6. In the Add Rate section, for Add Rate By, select Copying from Another Plan.
7. From the Select This or Other Accountdrop-down select This Account or Other Account. If you select Other Account, select the appropriate account from the drop-down.
8. From the drop-down select Current Plans or Archived Plans (within 1 Year.) 

If No Plans Available is displayed, change your drop-down selections.

9. From the drop-down select a Plan and Rate.
10. Click Add. The General Rate Information, Rate Details, and Commissions section appears.
11. Complete all the required information and click Save.

Add Fully Insured Rates

1. Log on to BenefitPoint as a Broker user.
2. On the top navigation bar click Accounts. A list of all accounts appear.
   Locate the account you want.
3. From the Action drop-down list select Plans. A list of all plans appear.
   Locate the plan you want to add the rates to.
4. From the Action drop-down list select Rates.
5. Click Tasks on the right and select Add Rate.
6. In the Add Rate section, for Add Rate By, select Creating New Rate.
7. Select a Funding Type as Fully Insured.
8. Select a Rate Type.
9. For Include EE in Tiers, select whether to include EE rates in rate tiers.
   • EE included example: EE, EE & 1, EE & 2, etc.
   • EE not included example: EE, Spouse, Child.
10. For Age-banded, select whether these rates are age-banded. If Yes, for Age, select the Start and End age of the bands and the the number of years in each Band from the drop-downs.
11. Then select whether the rates are Gender Specific.
12. Click Add. The General Rate Information, Rate Details and Commissions section appears.

13. In the General Rate Information section

    1. For Rate Description, enter a description for the rates. Note: The Rate Description distinguishes one rate from another so the description must be unique for this plan.
    2. Verify/modify the Rate Effective Date and Rate Expiration Date.
    3. For Rate Guarantee, enter a time frame.
    4. Select a Rating Method.
    5. For Rate Based on, select the number of months in the payment cycle.
    6. Verify/modify the Number of Lives as of date.
    7. Enter any Additional Rate Information/Rate Caveats, if applicable.
14. In the Rate Details section, enter or modify the plan rates and corresponding # of Lives for each tier. The Total Monthly Premium is automatically updated as the data is entered.
15. For adding commission, see the commission help topic here.

Generate a Rate Comparison report from the Plans page

1. Log on to BenefitPoint as Broker user.
2. On the top navigation menu, click Accounts. A list of all Accounts appears.
   Locate the account you want.
3. From the Action drop-down list select Plans. A list of all plans in the account appears.
4. On the right side of the page, click Tasks and select Compare to open the Compare pop-up window.

If you are within a Request, click the Compare link on the left. From the Select Comparison Type drop-down, select Rates.

5. From the Select Rate Type drop-down list, select the rate type you want to compare.

You can compare across line of coverage for fully insured rates (e.g., Fully Insured Medical, Fully Insured Dental, Fully Insured Vision).

6. Click Next. The Compare Rate page appears with the default Select List View as Current.
   You can compare rates for Current, Archived and Request plans at the same time, but you will add the plan rates to the Selected Rates section one status at a time (e.g. first add Current plan rates to Selected Rates section, then add Archived plan rates and finally, add Request plan rates to the Selected Rates section. When finished adding plans to the Selected Rates section, you will generate your comparison.
7. For Select List View, select the appropriate plan status, Current, Archived or Request and click Update. The list of Available Rates is refreshed to display the plan status you selected.

If you select the status Request, you must also select a Request #.

8. From the Available Rates section, select the plan rates you want to compare.
9. Click Add. The selected plan rates are now moved to the Selected Rates section at the bottom of the page.
10. Add any additional plan rates to the Selected Rates section by completing steps 7 - 9 for each plan status (Current, Archived, or Request).

You can select up to 10 plan rates at a time for a comparison. To remove a single plan rate description from the Selected Rates section, click Remove for the rates. To remove all plan rates from the Selected Rates section, click Remove All from the bottom right of the page. To select a different Comparison Type or Plan Type, click Edit Compare Criteria at the bottom left of the page.

11. When you are finished adding all the plan rates to the Selected Rates section, click Compare to display the Comparison page.

After reviewing the compare, click View Excel at the top right to view the comparison as an Excel file. The file opens in a new window. Review the contents.