Premium rates are used when calculating actions that are based on a `PremiumAmountBaseRate` or a `PremiumPercentBaseRate` benefit.

The premium rates for a `PremiumAmountBaseRate` benefit are calculated using the base rates and the amounts that are contained in all the actions created from the `PremiumAmountBaseRate` benefit. The calculations of the premium rates are the same for both hourly and annual positions so this example only shows calculations for an hourly position.

This table shows the base rates and their corresponding start dates:

Start date Base rate
1/1/2016 \$10
4/16/2016 \$12

This table shows three actions that are created from the same `PremiumAmountBaseRate` benefit:

Start date End date Amount
2/1/2016 6/15/2016 \$6
6/16/2016 6/30/2016 \$8
8/1/2016 None \$14

This table shows the Premium rates calculation without the shift differential pay:

Start date End date Calculation Premium rate
2/1/2016 4/15/2016 \$10 + \$6 \$16
4/16/2016 6/15/2016 \$12 + \$6 \$18
6/16/2016 6/30/2016 \$12 + \$8 \$20
8/1/2016 None \$12 + \$14 \$26

This table shows the Premium rates calculation with the shift differential pay:

Start Date End Date Premium rate
2/1/2016 6/15/2016 \$6
6/16/2016 6/30/2016 \$8
8/1/2016 None \$14

The premium rates for a `PremiumPercentBaseRate` benefit are calculated using the base rates and the percentages that are contained in all the actions created from the `PremiumPercentBaseRate` benefit. The calculations of the premium rates are the same for both hourly and annual positions so this example only shows calculations for an hourly position.

This table shows the base rates and their corresponding start dates:

Start date Base rate
1/1/2016 \$10
4/16/2016 \$12

This table shows three actions that are created from the same `PremiumPercentBaseRate` benefit. You can view start and end dates and percentage values for each action:

Start date End date Percentage
2/1/2016 6/15/2016 50%
6/16/2016 6/30/2016 100%
8/1/2016 None 150%

This table shows how the premium rates for this benefit are calculated:

Start Date End Date Calculation Premium rate
2/1/2016 4/15/2016 \$10 x 50% \$5
4/16/2016 6/15/2016 \$12 x 50% \$6
6/16/2016 6/30/2016 \$12 x 100% \$12
8/1/2016 None \$12 x 150% \$18