If your plan’s lowest cost, single-only contribution pricing varies at the individual employee level (including differing costs based on age or salary range), you will need to report individual cost information on your Employee Datasheet.

 

To do this, you first need to set up a plan with variable cost (if you haven’t already). To check your current plans or set up a new variable cost plan, see Plan Management – Cost Varies by Employee or contact your Project Manager.

 

Once your plan is set up for variable cost, when completing your Employee Datasheet, you need to enter the Employee Contribution and Total Individual Premium for each employee on that plan. These fields are located at the far right of the spreadsheet:


pS_arFvCixUwcLLI5boEkXzQRfM8XcEcEQ.PNG



For all employees on a variable cost plan, you will need to enter the following information into these fields:

 

  • Employee Contribution: This is sometimes referred to as the Monthly Employee Required Contribution, which is the amount (in dollars) the employee is charged for coverage each month for the single only coverage in the lowest cost option available. Note that this is the Monthly rate.
  • Total Individual Premium (Employee/Employer): In this field, you should enter the Monthly COBRA Rate associated with the lowest-cost, single-only coverage for this plan, minus the 2% admin fee.

 

Handling Premium Changes

If the Employee Contribution or Total Individual Premium changes during the calendar year, you will need to enter an additional line for each affected employee to capture that change:

 

When capturing a premium change, update the following:

  • Coverage End Data: In the first line of data, enter the end date for the original premium pricing.
  • Coverage Begin Date: In the new line of data, enter the date the new premium rate went into effect. (Typically this will be the day after the original pricing ended.)
  • Employee Contribution: Enter the original and new Monthly Contribution amounts in the appropriate lines.
  • Total Individual Premium: Enter the original and new Monthly COBRA rate in the appropriate lines.

 



Download this guide