Good Evening, @GHC2.
I can provide you with some additional insight into what you should do to change the rate of insurance without deleting the old information. Creating a new payroll item and the rate will do the trick. Afterward, you can delete the old payroll item out of the employee's payroll information. Here's how:
Create a New Payroll Item
Delete Old Payroll Item From Employee
Note: This will allow you to still see the old payroll item information in the payroll item list.
That's it! Below is an extra link that can help you out with different items within your account.
Should you need any further assistance, don't hesitate to reach back out to the Community. We're always here to lend a helping hand. Enjoy the rest of your week!