Part 3: Adjustments
Part 3 provides you with a listing of adjustments to your spending account, including the names of members whose coverage is being adjusted, the amount and date of the adjustment and the type of adjustment being made. Adjustments to your account reflect in the total current charges.
There are many reasons your rate could be adjusted, including adding new members, benefit changes, member deletions, and rate changes. In the example below, a new member was added. New members are added to your adjustment total only if they are retroactive to the coverage period.
Please note that if your group plan includes more than one spending account, additional adjustment pages will be included for each account.
- Rate applicable to the prior coverage period
- The adjustment amount for the current coverage period
- The adjustment amount for prior coverage periods (this column will only display adjustments for previous coverage periods, if applicable)
- Amount added or subtracted from the member’s spending account
- Administration fee included in adjustment amount (GST is only applied to administration fees)
- Total current charge
- Total adjustment amount. This amount is added to the total current charge to produce your total new charges (in part 2)