Who wants the ability to Configure Benefits Statements? We all do!

September 7, 2022 | 5 minute read
Tammy Boyles
Product Management Director
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The ability to configure the Fluid Benefits Statement has been a top Ideas Lab request that is now available as PeopleSoft Release Patch (PRP) Patch ID 34405119. Download the PRP today and configure your Benefits Statements for this year’s open enrollment. Your Benefits Administrator will be able to make configuration changes very quickly so getting it ready for an October enrollment is possible.  It will also be available in Image 44 for those willing to wait.

The Benefits Statement Template is located on the Benefits WorkCenter for easy navigation for the Benefits Administrator. You can create different templates for your different types of Benefits Statement Options.

There are 7 sections that can be controlled through configuration.  These include Personal Information, Cost Summary, Election Summary, Dependents and Beneficiaries, Dependent Enrollment, Beneficiary Designations, and Investment Allocations.

You can choose to display or hide each section using the Section Option

Then within each Section you can configure more specific fields for greater flexibility. You determine which fields are important to show for your organization. It can be all of them or only one of them. Here is an example of the configuration for Personal Information and Cost Summary sections. 

 

 

The Election Summary section is a little different. It is reasonable to expect that you will display most of your plan types. Thus, it is easier to list those plans that are an exception. When hiding plan types, you have choices to completely hide, hide if the employee does not have a choice in selecting, or hide if the employee waived the benefit.

The Dependents and Beneficiaries section provides an additional option of Display only if Enrolled. For employees without any dependents or beneficiaries listed, this section would be automatically hidden. It is important to note, this is just a list of who the employee has listed and not necessarily the dependents that are enrolled or which beneficiaries are designated. If you need to change the label of Dependents and Beneficiaries on the statement, this can be done using the Text Catalog.

 

The Dependent Enrollments section will list each Dependent enrolled by benefit plans. The Proof of Coverage column indicates if the employee must complete additional steps for the dependent to be enrolled. If you do not require proof of coverage uncheck this field.

We know that many organizations do not track Beneficiary Designations in PeopleSoft but track them through their third party carriers. This template configuration provides you the option to Never Display this section in those instances.

The last section is for Investment Allocations. Again, if you do not track investments or if an employee does not have any investments allocated you can choose to hide this section.

Once you have saved your Benefits Statement Template, you need to map it to your Benefits Statement Options also located in the Benefits Work Center.

 

A new field of Statement Template ID was added to the Benefits Statement Option page. This allows you to have different templates for different Statement Types and with different Schedule ID’s.

Now the Enrollment Statement will reflect the configuration you selected for both the online and print version without having to make customizations. Configuration – it’s a good thing.