EMPLOYER CALCULATOR

Calculate Employer Savings By Offering an FSA

The following calculator demonstrates potential tax savings for employers when they implement a Flexible Spending Account (FSA) for employees.

An FSA provides several benefits to an employer. The employee's pretax contribution to the FSA lowers the employer's FICA tax liability. In addition, employers that offer FSAs to employees could save on Federal Unemployment Taxes (FUTA), State Unemployment Taxes (SUTA) and Workers Compensation taxes.

FSAs provide employers tax savings that help to offset rising healthcare costs, and provide employees with an additional healthcare benefit.

Employer FSA Calculator Demonstrates Tax Savings

Use this calculator to determine your potential employer tax savings. This calculator is for planning purposes only and is designed to demonstrate potential tax savings and does not guarantee savings. We assumed premiums are on a pre-tax basis and did not take into account mid-year election changes, participant forfeitures, or gains due to early coverage terminations.

By using this calculator, you therefore agree that HealthSmart Holdings is not liable for any failure to achieve projected savings.

What is your current total number of benefit eligible employees?

 

Estimate percentage of employees that will take advantage of the unreimbursed health care.
(industry standard for participation is 18% of eligible employees)

%

Estimate percentage of employees that will take advantage of the dependent care benefit.
(industry standard for participation is 3% of eligible employees)

%

How much is the average annual employee contribution for health insurance?

Results Participants Amounts

Premium Post Tax Contributions

0

Unreimbursed Health Care Participants and Post Tax Contributions
(average yearly contribution $650)

0

Dependent Care Participants and Post Tax Contributions
(average yearly contribution $2,800)

0

Projected Pre-Tax Employer Savings

0

* Above is an illustration of the types of savings an employer will gain from offering a FSA. Illustration assumed Social Security Tax of 7.65%. Employers may save on FUTA, SUTA and Workers’ Compensation taxes.