Applying a Mid-Year Premium Change to a 'Banded Medical'

Background

When your business uses ‘banded’ medical, and the rates for the premium change each year, there will come a stage when you need to enter the new details to handle the new premium year.

Benefits in the P11D Organiser are stored ‘per benefit description’, which means you should try and make your benefits descriptions year specific (or at least identifiable) as that will simplify the process.

Example

Your medical premium runs from 1^st October each year until the 30^th of September the following year, meaning you would ideally end up with the benefit displaying on an employee’s benefits statement similar to the following:

• Private Medical 2023-2024 (06/04/2023-30/09/2024) = £1,234.00
• Private Medical 2024-2025 (01/10/2024-05/04/2025) = £1,345.00

Entering Data

We will assume that you currently have the 2023-2024 data in your system, so an employee’s record looks like this:

Drilling into the benefit, you’ll see that the system has pro-rated this for the correct number of days:

We now need to the enter the new premium for the 2024-2025 tax year and apply that to all employees that currently have the 2023-2024 benefit. To do this, you need to first select all the employees that have that benefit currently.

Select the employer benefit overview button:

Then from the listing, select Private Medical 2023-2024 followed by Find

You now have a lookup of all the employees with that benefit applied.

We now reselect the Employer Benefit Overview button and then hit Add from the bottom left – this will allow us to enter the new benefit description and premium. On the next screen, click Add again, and enter the new details:

When complete, click OK

Click the List Employees icon from the right hand toolbar to go back to your list of employees that have the benefit.

Then double click any employee to edit their details, and from the right-hand toolbar, select the icon to add medical information.

Then click Add, and select the new benefit we created and click Add again:

On the next screen, all the details for the new premium will be there, but ensure you select the tick box to Save for this lookup at the bottom:

The system will then ask if you want to apply this for the whole lookup:

All employees on the lookup will now have both entries:

And the benefit statement will reflect this: