Premium Deduction Process - Reference Guide
The following guide walks through the premium deduction process for the MyBenefits program.
Key Changes
The Home Office will recover premiums for all staff within the network office from each MP.
MPs will have to collect staff premiums from their respective MDs, DDs, and FRs. In conjunction, MDs will have to collect from their DNO FRs.
Recovery of premiums from MDs, DDs, FRs will be done via an open account (1210) charge.
The premium recovery process will be similar to how home office loan payments and HOSB are handled.
Premium Collection Process
Staff Premium Reporting (FMI Online)
Two reports will be regularly available beginning in January 2019 to provide the necessary information for staff premium collection.
Cash Flow - Pilot Programs
Interim, Pilot business rules, and guidelines have been established to address cash flow concerns for 1029. Access more detailed information here
