Benefit Reductions applied on the birthday
For benefit reductions, it's my understanding that as soon as someone has a birthday and ages up into an age bracket that is eligible for a benefit reduction, BerniePortal does NOT charge the premium for the next bracket up but does apply the benefit reduction to their premium on their birthday. Some carriers don't start accounting for that age up until the next renewal or sometimes the 1st of the following month, so it would be nice if there was an option to account for this in BerniePortal.
Group's voluntary life renews 01.01.2022. Employee is 64 at renewal but a few weeks later, turns 65. On the employee's 65th birthday, BerniePortal applies a benefit reduction to the 64 age bracket premium. The carrier doesn't apply the benefit reduction until 01.01.2023, or sometimes the first of the month following the birthday, but in BerniePortal, the life amount is reducing 35% as soon as they turn 65