Setting Billing/Premium Rates for Bond Insurance/EPLI

Use these forms to enter the billing/premium rates for a bond insurance or EPLI (employment practices liability insurance) group benefit plans.

To set the billing rates for a bond insurance or EPLI plan:

1. On the Group Benefit Plans form, under the Actions menu, click Billing Rates to open the Billing Rates form.
Use this option To define this
Benefit Plan ID This field is read only. The Benefit Plan ID displays here from the Group Benefit Plans form.

Rate Group

You can manually enter billing rate group or click the Rate Group hyperlink. The system will ask you Search for rate groups already used for this plan? If you select:

• Yes - Existing Rate Groups display on the right from which you can select one billing rate group.
• No - The Select Rate Group selector opens from where you can select one billing rate group.

Effective Date

Enter the date from which this billing rate becomes effective.

Rate/Hundred

The billing cost for bond insurance expressed as an amount per hundred dollars of employee earnings. The rate relates to the Cost Basis field in the Group Benefit Plans form. For example, if the cost basis is Monthly, the rate represents monthly billing costs.

2. Click Save to save the changes. You are returned to the Group Benefit Plans form.
3. Click Delete to delete an existing record.
4. Click Cancel to remove the changes made to this form. The Benefit Plan ID remains on the form.
5. Click Close to close this form at any time.

To set the premium rates for a bond insurance or EPLI plan:

1. On the Group Benefit Plans form, under the Actions menu, click Premium Rates to open the Premium Rates form.
Use this option To define this
Benefit Plan ID The Benefit Plan ID. It is populated from the Group Benefit Plan form.
Effective Date

The date when the rate goes into effect. Saving rates according to the effective date enables you to view previous rates. The system calculates premium costs using the premium rates with the most recent effective date. You can enter this manually or select one from the list of Existing Effective Dates on the right.

Rate/Hundred

The premium cost for bond insurance expressed as an amount per hundred dollars of employee earnings. The rate relates to the Cost Basis field in the Group Benefit Plans form. For example, if the cost basis is Monthly, the rate represents monthly premium costs.

2. Click Save to save the changes. You are returned to the Group Benefit Plans form.
3. Click Delete to delete an existing record.
4. Click Cancel to remove the changes made to this form. The Benefit Plan ID remains on the form.
5. Click Close to close this form at any time.