Health insurance pricing is partly determined by the employee's age. When you set up a new hire and select health insurance, we show you a standard rate for that country (for example, $75 per month in the Philippines) so you have a budget figure to work with. This is an estimate — the actual premium charged by the insurer depends on the employee's age.
Our health insurance pricing is tiered by age band (typically four to five brackets). The standard rate you see during onboarding is based on the youngest band; if your employee falls into a higher band, the actual premium will be higher. A disclaimer is shown at selection to flag this.
Here's the flow:
You select health insurance for a new hire and see the standard rate, with the disclaimer.
The employee onboards and provides their date of birth on the Outstaffer platform.
The insurer issues the policy with the actual premium based on the employee's age band.
We update your subscription to reflect the actual premium going forward.
Health Insurance Reconciliation: if the insurer charged us more than we'd been billing on the standard rate, we issue a debit note for the difference (similar in spirit to the payroll reconciliation). From that point, your subscription bills the actual premium.
The $15 administration fee per policy applies regardless of age band.
If you'd like to see the age-band rate table for any country, your dedicated HR Manager can share it with you.