Create Benefit Plan
This action simulates creating a benefit plan in Workday.
This action simulates creating a benefit plan in Workday.
| Field | Description | Current Value |
|---|---|---|
benefitPlanName |
Name of the benefit plan | User input or "Single Insurance Plan" |
benefitPlanType |
Type of benefit plan | User input or "Life" |
benefitPlanTierOption |
Coverage level for the plan | User input or "Employee" |
benefitPlanDescription |
Detailed description of the plan | "This is the definition for a Single Insurance Plan." |
| Field | Description | Value |
|---|---|---|
transmissionGUID |
Unique identifier for the transmission | "123transmissionGUID95105" |
masterAgreementNumber |
Master agreement reference number | "MGA_95105.123" |
benefitClassIdentifier |
Identifier for benefit class | "123 benefitClassIdentifier" |
billGroupIdentifier |
Billing group reference | "123 billGroupIdentifier" |
benefitPlanIdentifier |
Unique plan identifier | "123 benefitPlanIdentifier" |
groupPolicyNumber |
Group policy reference number | "123 groupPolicyNumber" |
| Setting | Value | Description |
|---|---|---|
| Minimum Coverage | $5,000 USD | Lowest coverage amount allowed |
| Maximum Coverage | $50,000 USD | Highest coverage amount allowed |
| Step Amount | $5,000 | Increment steps for coverage selection |
| Rounding Amount | $1,000 | Coverage amounts rounded to nearest value |
| Minimum Multiple | 1x | Minimum salary multiple for coverage |
| Maximum Multiple | 6x | Maximum salary multiple for coverage |
| Income Type | Base Salary | Type of income used for calculations |
| Setting | Value | Description |
|---|---|---|
| Rate Name | "Single Insurance Rate" | Name of the rate schedule |
| Rate Per | $20,000 USD | Rate calculation base amount |
| Premium Mode | Monthly (12 per year) | Premium payment frequency |
| Rate Basis | Covered Payroll | Basis for rate calculations |
| Demographic Factor | Age in Years | Primary factor for rate determination |
Employee Rate: $1.00
Employer Rate: $2.00
Employee Rate: $3.00
Employer Rate: $4.00
| Reference Type | Name/URL | Description |
|---|---|---|
| Plan Description URL | Workday Solution Demo | External documentation reference |
| URL Link | https://workdaysolutiondemo.com | Link to external plan documentation |
| Currency Reference | Currency_ID=USD | System reference for USD currency |