Beginning with version 7.00.50, users can now create multiple versions of a Commission Table.
Sometimes Carriers will send updates to their Commission Tables.
These updates will go in to effect on a specific date.
There are two types of updates:
All payments made by the Carrier after a specific date will use the updated Commission Table regardless of the policy's effective date
All new policies and renewed policies, effective as of a specific date, will use the updated Commission Table
For example
In this example, Aetna Small Group IL, is going to update their Dental Commission Table. Aetna has always paid 9% of premium for the Dental product. But starting with all payments made in June 2015 , Aetna will pay 10% of premium for the Dental product. You do not want to edit the existing Dental table because it is being used by existing payments. Instead, click the "Create A New Version" button while highlighting the Dental table. A popup will ask you to define when the new version will go into effect. You can choose for the new version to go in to effect based on the Billing Date of the payments received from the Carrier or based on the effective date of the policy. Next, you make the changes to the Commission Table and save the new version. Now you will see two "Dental" Commission Tables in the list. The Start Date and Date Type columns indicate which is the original table and which the new version of the table.
