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Scott Henrehan
shenrehan@employdrive.com
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Adding a Deferred Comp (401k) benefit plan to an employee record
Published June 23rd, 2023 by Scott Henrehan
1. Navigate to the “Deferred Comp” tab of the Employee Management >> Employee Benefits >> Benefits screen 2. Click “Add New” and select the Benefit Type and Plan that you want to add 3. Review the Plan Information, enter any Employee Contributions, and click “Save” Plan Information Pending Participation Requirements If the employee has m
Rate Table
Published June 14th, 2022 by Scott Henrehan
Flat premium amounts per coverage level. All rates in iSolved are determined by monthly values and then broken up by pay schedule to determine per-pay deductions for running payroll. Rate Table Structure What coverage levels exist for the plan? ex. Employee Only, Employee + Spouse, Employee + Child(ren), Family Are the rates cost-banded? ex. costs
Cost Bands
Published July 11th, 2022 by Scott Henrehan
Cost bands allow rates to vary with age, salary, tobacco use, and / or other values. All rates in iSolved are determined by monthly values and then broken up by pay schedule to determine per-pay deductions for running payroll. By Age When is age measured? ex. As of Beginning of Plan Year; As of Jan 1st; As of 1st of Month After Birthday Participant
Rate Table * Coverage Amount
Published July 11th, 2022 by Scott Henrehan
Variable premium amounts per coverage level based on covered amount or payroll. All rates in iSolved are determined by monthly values and then broken up by pay schedule to determine per-pay deductions for running payroll. Rate Table Structure What coverage levels exist for the plan? ex. Employee, Spouse, Child(ren) Are the rates cost-banded? ex. c
Open Enrollment Setup
Published July 25th, 2022 by Scott Henrehan
Plans, Dates, and Eligibility What plans are included in the open enrollment? When does the benefit plan year start? When should the enrollment portal open and close? Who is eligible to participate? Are new hires who are still in their probationary period eligible to participate? Is this an ongoing open enrollment (for new hires or life events)? Mai
Adding a Flexible Spending Account (FSA) Plan
Published June 14th, 2022 by Scott Henrehan
FSA plans are employee-paid pre-tax benefit plans regulated by the IRS. FSA Medical plans can be applied towards medical, dental, and vision expenses. FSA Limited plans can only be applied to dental and vision expenses, and are usually paired with a health savings account (HSA) plan. FSA plans do not carry over from year to year. When adding an FSA
Updating an Employee's Elected Deferrals
Published June 30th, 2023 by Scott Henrehan
This article goes over how to update isolved with an employee's requested change to their current deferred compensation deferrals. Navigate to the employee's Deferred Comp Benefit plans Employee Management >> Employee Benefits >> Benefits Search and select the employee Select the “Deferred Comp” tab In this example, the employee has a cu
Assigning an Accrual Plan
Published July 12th, 2022 by Scott Henrehan
In the event your accrual plans are not built to automatically assign when the employee is hired or should you need to change/remove a plan at anytime you can do so by following the steps below: 1. Navigate to the Employee Management > Employee Benefits > Accruals > Leave Accruals screen. 2. Find the relevant Accrual Type and click the dro
Open Enrollment Setup - New Hires and Life Events
Published July 25th, 2022 by Scott Henrehan
In addition to the standard open enrollment questions, setting up an ongoing open enrollment requires some extra information. Enrollment Portal Setup How long should the open enrollment portal be available to the employee? When should the open enrollment become available to the employee relative to the event date? ex. Day of; 10 days before; 30 days
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