Time Periods
Time periods represent a slice of time. They enable the values in premium schedule lines, adjustment rules, surcharge rules and fee schedule lines to change over time. Since most of these values change on a yearly basis, time periods typically span calendar years. This is a configuration choice, as time periods can be configured to represent any time period.
The image below shows a premium schedule that is updated once per calendar year. The time periods each span a calendar year. Each line in the schedule applies to a single time period.
The three schedules in the image represent three views of the same premium schedule, each for a different period in time. To the user, the premium schedule is presented within the context of a time period, e.g., the premium schedule for 2014. The user can switch between the different time periods, going back and forth through time to see how applicable premiums have changed. A time period has the following fields:
| Field | Description |
|---|---|
Display Name |
The name shown in the user interface, e.g. 'Calendar year 2014' |
Start Date |
The start date for the default time period |
End Date |
The end date for the default time period |
The system does not allow overlapping time periods.
Premium schedule lines, adjustment rules, surcharge rules and fee schedule lines always apply to one single time period. They also share the same time periods, for example, the time period record for calendar year 2014 is used by premium schedules, adjustment rules, surcharge rules and fee schedules.
Enrollment products and group accounts have their own time periods. This makes it possible to apply premium and adjustment changes based on customized intervals such as a plan year, rather than per calendar year. More information on this topic is available in the implementation guide for enrollment product and group account configuration.