How to Create a Short Term Disability Plan
How to Create a Short Term Disability Plan:
- Navigate to the "Premiums" tab of the plan.
- Purchase Dependency Settings:
- Select how coverage is determined (fixed percentage of salary or employee chooses), when salary changes will affect plan premiums (at salary change effective date, first of the month following salary change, or at plan anniversary), how premiums are calculated (per $10 weekly benefit or per $10 of weekly covered payroll), and select if volume should be rounded.
- Monthly Premiums - enter the rate per $10.
- Age Calculations:
- Purchase Amount and Maximums:
- Enter the maximum salary percentage and maximum weekly benefit amount per the policy.
- Employer Contributions:
- Determine if the plan is Employer Paid or Voluntary.
- EOI Settings:
- Determine if an EOI should trigger for anyone who waived the plan in a prior enrollment period.
- If “Yes” is selected, upload the EOI document.
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