Employee Benefits Calculator
See if you actually have
"good benefits"
Mployer connects you with employers actively seeking benefits and brokers, providing over 150 exclusive leads yearly.
See how your healthcare benefits compare
Share a few stats about your benefits and we’ll tell you the dollar value and how it compares to other company’s healthcare benefits offered in US
Guide
In this page
Finding your information
Key terms explained
Ways a benefits calculator can help
Finding your information
1.
Ind = Individual
Fam = Family
2.
Ded = Deductible: This is the amount you pay before your insurance starts to cover costs.
3.
OOP = Out-of-Pocket or Max Out-of-Pocket: The maximum amount you will pay during a plan year.
4.
Network = In-network providers: These are the healthcare providers covered by your insurance.
5.
Network = In-network providers: OON = Out-of-network providers: Providers not covered or partially covered by your insurance.
Key terms explained
Our online benefits calculator can help you quickly and easily see the value of your employee benefits with just a few pieces of information. It can also show you how your benefits compare to other employers like yours.
Here are some useful terms to understand when evaluating your benefits:
•
Deductible: The amount you must pay for covered healthcare services before your insurance starts to share the costs
•
Max Out-of-Pocket: The most you'll pay in a plan year for covered services; once reached, insurance covers 100% of additional costs.
•
In-Network: Healthcare providers who have an agreement with your insurance plan to offer services at lower, negotiated rates.
•
Out-of-Network: Providers that do not have an agreement with your insurance, often resulting in higher costs or no coverage at all.
•
Co-pays for PCP (Primary Care Physician): A fixed amount you pay for a visit to your primary care doctor, typically lower than for specialists.
•
Co-pays for Specialists: A higher fixed amount you pay for a visit to a specialist, such as a cardiologist or dermatologist.
•
Individual vs. Family: Plans differentiate between covering just one person (individual) or multiple people (family), with family plans typically having higher premiums and different deductible structures. This matters because family coverage impacts both out-of-pocket costs and the way deductibles and out-of-pocket maximums are calculated.
Ways a benefits calculator can help
Here are five scenarios where utilizing an employee benefits calculator can help employees understand if their benefits are good and determine the total value of their benefits:
1.
This can benefit you when evaluating a new job offer.
Understanding the total value of your prospective benefits package helps you assess if a new offer provides more value than your current plan, beyond just salary comparison.
2.
This can benefit you when reviewing your current benefits during open enrollment.
A benefits calculator allows you to compare your plan to industry standards, helping you choose the most cost-effective options for the upcoming year.
3.
This can benefit you when trying to understand your total compensation as an employee.
By factoring in the value of health insurance, retirement contributions, and other perks, you can gain a complete picture of your compensation beyond just your base salary.
4.
This can benefit you if you're considering switching plans or providers.
Comparing the costs and coverage of different plans through a calculator helps ensure you’re making the most informed decision when deciding to switch healthcare providers or insurance plans.
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