FF: User Functions
Functions are the sub-programs that take some inputs and after performing a particular Mathematical / logical calculation, return a value. The subprogram once defined, can be called from and used in any Formula.
OAB: Open Enrollment
Open Enrollment / Open Season / Annual Enrollment, is a process with which employers provide an option to the employees to add/remove/update their benefits elections. This is usually once a year process; however there will be instances where the employer would wish to do it twice a year. The mostly used plan year is 1st Jan of every year till the 31st of December.
Define a Payroll
As per Core – HR Design, every employee assignment must have a payroll attached to it. The entity payroll, tells the system about the payroll frequency/ cycles, the valid payment methods, the check dates to which the assignment is entitled. Employees in a same payroll share the same payroll frequency and pay dates. How do we define a Payroll?
What if something goes wrong on Payroll calculation? You just come across something on your Payroll register that needs corrections. How do we fix that?
OAB: Coverage, Premiums, and rates
we have discussed the Eligibility, Electability, Defaults, Enrollment rules etc. and all these help us defining the rules upon which a Participant will be enrolled in a Comp Object. Now, let's go a step further. Let's discuss about the money that comes into action for these enrollments.
OAB: System Extracts
As we know, interfaces are the files we generate to communicate with the business / system partners. We have our firm, and we are maintaining our Payroll and Benefits system. Now, we must let our Carriers know, the enrollments that our Participants have. Again, we must update them about the changes happening to the existing Enrollments, the drops and the new enrollments too. How do we do that?