Plan Administrator's Guide — List Bill - RBC Insurance

How do I calculate back-charges/credits for employees already enrolled?Back-Charges/Credits for changes to Class and Salary, Terminations and Reinstatements will show inthe Adjustments section of your Premium Statement. A change in class only results in a new coverageand premium if the benefit schedule of the employee’s new class is different from the benefit scheduleof the employee’s former class.Albert Nagasaki - Salary IncreaseEffective dateof salary increase:Salary:Life & AD&D coverage:STD coverage:LTD coverage:April 1stPrevious Current Difference$40,000/a $45,000/a $5,000/a$120,000 $135,000 $15,000$513/wk $577/wk $64/wk$2,222/mth $2,500/mth $278/mthBack-charges:Albert must pay a 2-month back-charge for premium due between April and June:Life:AD&D:STD:LTD:$15,000 x $0.28/1,000 x 2 mth = $8.40$15,000 x $0.03/1,000 x 2 mth = $0.90$ 64 x $0.15/10 x 2 mth = $1.92$ 278 x $1.10/100 x 2 mth = $6.12Total back-charge: $17.3434 Plan Administrator’s Guide — List Bill