Renewing a Self-Funded Policy of a Bill Group

Oracle Revenue Management and Billing enables you to renew a self-funded policy which is associated with a bill group. However, note that you can renew a self-funded policy when it is in the In Force/Active status and is not yet renewed. For more information, see Self-Funded Policy Renewal.

Procedure

To renew a self-funded policy of a bill group:

  1. Search for the bill group who is associated with the self-funded policy (which you want to renew) in the Customer 360° View screen.
  2. In the Search Results section, click the View (The View Icon) icon corresponding to the bill group whose details you want to view.
    The Person tab appears in the Customer 360° Information screen.
  3. Click the Pricing Information tab.
    The Pricing Information tab appears.
  4. In the Bill Group Self-Funded Policy Information zone, click the Renew (The Duplicate Icon) icon in the Renew column corresponding to the self-funded policy which you want to renew.

    The Policy screen appears. It contains the following sections:

    • Main - Used to specify basic details about the renewed policy.

    • Persons - Used to associate or disassociate persons from the renewed policy.

      Note: You cannot disassociate persons who are associated with the base policy using a policy person role which is specified in the Bill Group Policy Person Role or Parent Customer Policy Person Role option type of the C1-ASOBLLNG feature configuration.

    • Characteristics - Used to define the characteristics for the renewed policy.

    The Main section contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Base Policy Information Indicates the policy which you want to renew. Not applicable
    Policy Type Indicates the policy type using which the base policy is created. Not applicable
    Policy Number Used to specify the policy number of the renewed policy. Yes
    Description Used to specify the description for the renewed policy. Yes
    Start Date Used to specify the date from when the renewed policy is effective.
    Note:

    By default, the start date is set to the base policy's end date plus one day. For example, if the base policy's end date is 12-31-2018, then by default, the renewed policy's start date is set to 01-01-2019.

    The start date cannot be later than the end date.

    The start date cannot be earlier than or equal to the base policy's end date.

    		 Yes
    End Date Used to specify the date till when the renewed policy is effective.
    Note: The end date cannot be earlier than the start date.
    		 Yes
    Runout End Date Used to specify the date when the runout period of the renewed policy ends.
    Note: The runout end date cannot be earlier than or equal to the renewed policy's end date.
    		 No
    Runout Administration Fees Used to indicate whether the administration fees must be charged when the claim transaction for the policy is processed in the runout period. The valid values are:

    • None

    • Percentage of Claim

    Note: At present, this field is used only for the informational purposes and is not considered during the billable charge creation for the claim transactions which are received in the runout period of the policy.
    		 No
    Copy Pricing Rules Used to indicate whether you want to copy the pricing rules of the base policy to the renewed policy. If you select the Copy Pricing Rules option, the system copies the following pricing rules of the base policy:

    • Claim

    • Retention Type Claim Based

    • Retention Type Enrollment Based

    • Recurring Flat Fees

    • Ancillary

    Note:

    While copying a pricing rule, the start and end dates of the new pricing rule are set to the renewed policy's start and end dates, respectively.

    If there are multiple pricing rules which are created using the same pricing rule type and are effective for the different date range, the system copies only one pricing rule from the base policy with the latest date range.

    		 No
    Copy Advance Level Funding Eligibility Used to indicate whether you want to copy the advance level funding eligibility value of the base policy to the renewed policy.
    Note:

    If the Copy Advance Level Funding Eligibility option is set to Y in the base policy, the system activates the renewed self-funded policy on the policy renewal even if the renewed policy's start date is later than the system date.

    This field appears only when you want to renew a self-funded policy.

    		 No
    Note: The Renew icon appears when the policy is in the In Force/Active status and it is not yet renewed.
  5. Enter the required details in the Main section.
  6. Associate or disassociate persons from the renewed policy, if required.
  7. Define, edit, or remove characteristics of the renewed policy, if required.
  8. Click Save.
    The renewed policy is created in the Pending status. The renewal date is stamped corresponding to the base policy in the Bill Group Self-Funded Policy Information zone.

Related Topics

For more information on... See...
How to search for a person Searching for a Person
Customer 360° Information screen Customer 360° Information
Pricing Information tab Customer 360° Information - Pricing Information
Bill Group Self-Funded Policy Information zone Bill Group Self-Funded Policy Information
How to associate a person with a policy Associating a Person with a Policy
How to define a characteristic for a policy Defining a Characteristic for a Policy
How to setup the C1-ASOBLLNG feature configuration Setting the C1-ASOBLLNG Feature Configuration