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Administrator Guide
Last Updated: 2023-06-23
Steps: Manage Individual Benefit Rates

Steps: Manage Individual Benefit Rates

You can offer employees individual rates for health care, insurance, and additional benefits plans. Individual rates are helpful to companies that offer private health insurance plans to their employees along with their company-sponsored benefit packages.
Workday recommends that you create a separate benefit plan for employees using individual rates. Mixing employees that use individual rates with employees that don't in the same benefit plan prevents automatic rate updates for all employees in the plan.
    1. Select the
      Use Individual Rate
       check box when setting up coverage plans, insurance coverage plans, and additional benefits plans.
    2. To revert to the rates defined on the benefit plan when a new plan year begins, select the
      Reset Individual Rates for New Plan Year
       check box.
    3. Enter zero for the employee and employer costs or enter the normal rates. These costs display on the enrollment form.
  2. Submit a change in benefit elections or complete open enrollment.
    1. Employee completes a change in benefit enrollment or completes open enrollment that includes a benefit plan using individual rates.
    2. Administrator: completes changes in the employee's benefit enrollment. Or, they enter the employee's open enrollment elections, which include a benefit plan that uses individual rates.
  3. Obtain individual rates from provider.
    Complete this step outside of Workday.