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Tutorial Policy dates and manual premium
Doing a PA/DE calculation? Also see Calculating a PA/DE Mod. Doing a NJ calculation? Also see Calculating a NJ Mod. |
Videos
FAQs
How do I enter more than four policy periods? How do I enter a contractors credit or other adjustment for a mod?
Still have a question? |
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Basic
information The Company Setup page is automatically displayed after you select or create a file. The Account Name and File Name will already be shown since you supplied that information when you created the file. The Effective Date is the effective date of the calculation you want to perform. The Control # is an optional field to associate with this mod. The Calculation Type identifies the methodology being used for the calculation. NCCI is the default. It does not necessarily mean that the states in the calculation are NCCI states. If you are doing a calculation for states other than PA/DE or NJ, then you should select NCCI. PA/DE and NJ cannot be combined with each other or NCCI states in the same calculation.
Policy dates and manual premium If you have three years of Policy Period Information and they are all 12-month periods, you may want to press the Auto-Fill Dates button to automatically fill in the policy period dates based on the effective date you entered. Otherwise you can manually enter or adjust the dates, entering the oldest policy period in the 4th (if needed) field that appears first on the list. If you have more than four policy periods, then you will need to combine policy periods (see this FAQ), or contact us for assistance. The Manual Premium field is the unmodified workers compensation premium for the year this mod is effective. This value is used on the Specific Loss Sensitivity report and other reports to estimate the true cost of a loss. Although this is not a required field, it adds a lot of value to your reports and graphs. For more about the true cost of a loss, see our NewSolutions article. The Notes field is an unlimited text area for you to enter notes associated with this file.
Exception
information The Exception Information is hidden on the right side of the screen because the need for the Exception Information fields is rare. But if you need to make a contractor adjustment or other type of credit adjustment to your calculation, then you will want to click the Show button to display the options for applying adjustments. You can select from various contractor adjustment programs in the State/Program pull-down box of the Intrastate Adjustments area, or select [generic] and enter the desired Policy Credit Factor. The Interstate/Multiple Adjustment area is most often used for Florida, but you can select any state for the adjustment. Then select or enter a program name and the credit for each policy period. Since multiple adjustments have a cumulative effect, you must enter program names preceded by a (1), (2), (3), etc. to indicate the order that the adjustments should be made.
Sample
data entry Note that you can use the Tab key, Enter key or the mouse to move between fields on the Company Setup page. When your data entry is complete, click the Next button on the toolbar to go to the Payroll page. |
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This page can be printed
with no right-margin overflow by using the Page Setup command to set the left margin to 1.0 and the right margin to 0.5 inches. |
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