Insurance Benefits

Millennium provides extensive flexibility in defining insurance benefits, which is helpful to larger organizations or those who desire to manage their insurance benefits. Some of the features available are, defining the insurance plan, calculating the employer and employee contribution methodologies, defining premium rate tables, tracking the insurance company’s demographic and policy information, and defining the insurance broker/agent’s demographics and contact information.

An important benefit of the insurance administration module is its ability to leverage work effort when insurance premiums change. Simply update the insurance premium section of the screen and the appropriate employee withholding is automatically calculated at the employee voluntary deduction level. This module alleviates the need to manually review each employee and make changes to the voluntary deduction setup for each insurance benefit they have, like most payroll systems.