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Administrator Guide
Last Updated: 2023-06-23
Steps: Set Up Employee Benefit Plans

Steps: Set Up Employee Benefit Plans

  • Set up benefits.
  • Security:
    Set Up: Benefits
     in the Benefits functional area.
You can configure benefit plans, including health care, insurance, and retirement plans. You can also configure the healthcare savings and spending accounts. Example: Flexible spending account plans.
  1. Associate medical, dental, and vision health care plans with:
    • Coverage types.
    • Eligibility rules.
    • Plan costs.
    • Earnings and deductions.
  3. (Optional) Create critical illness insurance plans.
    Select a benefits plan type that supports the enrollment data that you need to provide to your benefits provider.
  4. Define the retirement plan minimum and maximum contribution amounts or percentages for:
    • Employees.
    • Employers.
    • Payroll deductions.
  6. Define contribution limits and other details for benefits spending account plans.
  7. (Optional) Access the
    Maintain Health Care Coverage Targets
     task.
    (Optional) In Edit Tenant Setup - HCM, in the Benefits section:
    • Select the
      Include an additional HSA Coverage Target Option
       check box if your Health Care Savings (HSA) plan offers more coverage levels than Employee and Family.
    • Select either
      Employee
       or
      Family
       for
      IRS Limit for additional HSA Coverage Target Option
      .
    Set up HSA coverage targets. See Create Health Care Coverage Targets.
    Associate health care coverage targets with either the HSA
    Employee
     or the
    Family
     coverage targets.
  8. Define contribution limits and other details for health savings account plans.
  9. Create benefit plans for other types of plans. Example: ESPP, commuter, pet insurance, or gym membership.
  10. (Optional) Access the tasks
    Maintain FEGLI Codes
     and
    Maintain FEGLI Plan Mapping
     (U.S. Federal).
    Create mappings for FEGLI insurance codes and SF 50 equivalents. Example: 0000 - B0. Also, map the FEGLI plan types (Basic, Options A, B, and C) to insurance plans.