Understanding funding types and invoices
Plan funding
Level maintains a minimum balance with monthly top up based on plan spend to ensure uninterrupted benefits for employees.
- Minimum balance: A minimum balance, calculated as a percentage of your plan’s maximum, must be maintained to support payouts.
- Top-up: Level automatically calculates and debits funds to maintain the required minimum balance. Top-ups are calculated as: Top up = Minimum balance + transactions paid - previous minimum balance
Service fees
Monthly PEPM (per employee per month) fees charged to cover platform administration, transaction processing, and support. Ad-hoc service fees may also include things like implementation fees.
- Fee calculation: Based on the first day’s member eligibility each month, with adjustments for retroactive changes in the following invoice.
- Consolidated billing: All fees are combined in one invoice, with a detailed breakdown by plan type.