Volumes

The volume amount for each enrolled member in a snapshot should be set according to the type of coverage the member has and the rules that govern the benefit’s payout. 

• Life, AD&D, critical illness, and hospital indemnity benefits pay out in lump sums, so the dollar amount in the snapshot should equal the full volume of the coverage. 
• Long-term disability (LTD) pays out monthly, so the dollar amount in the snapshot should be equal to one months’ payout amount. 
• Short-term disability (STD) pays out weekly, so the dollar amount in the snapshot should be equal to one weeks’ payout amount.  

You should always send the relevant amount in dollars as an integer. 

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How are volumes calculated? 

Volume rules vary by carrier. When groups are connected with existing plans, we will pull down volume rules if the carrier makes them available; these rules can be viewed in our app or fetched from the plans API. 

Carrier-specific policies on volume rules will be documented in the Noyo app on each carrier’s page. 

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Changing a volume

When an employee enrolls in a new coverage or elects a different volume amount than they currently have, the new amount should be sent in a member snapshot. The carrier may award the new volume, award a different volume than what was requested according to their rules, or request Evidence of insurability documentation from the employee.  

If the awarded amount is different than what was sent in the member snapshot, we will create a discrepancy for your review.