Employer Savings Worksheet:
Example: Your Numbers
1. Estimated number of employees participating 53 ______
2. Times Estimated Average monthly employee
contributions for their medical, dental and other
health insurance $100 _______
3. Times Employer FICA contribution percentage 7.65% 7.65%
4. Equals Employer’s Estimated Savings per month $405 _______
5. Employer’s Estimated Annual Savings $4,860 _______
More Payroll Efficiency:
Estimated Employee Incremental Tax Rate
Federal Income Tax 18.00% _____%
State Income Tax 5.00% _____%
FICA Tax 7.65% 7.65%
6. Estimated Employee Incremental Income
Tax Rate: 30.66% ______%
7. Total Pre-tax Employee Contributions $63,600 $_________
(Line 1 X Line 2 X Twelve)
8. Employer’s Estimated Increased
Payroll Efficiency $91,792 $_________
(Line 7) / (100.00 – line 6) or ($63,600) / (100.00 – 30.66)
