Small Business Health Insurance Cost Calculator

Start with the employee census, desired employer contribution, plan type, deductible level, and coverage tiers for employees and dependents. Then compare premiums alongside expected administrative costs, stop-loss protection where applicable, and tax-advantaged funding tools. A complete estimate should also consider renewal risk, employee affordability, and whether a fully insured, level-funded, self-funded, or reimbursement arrangement fits the business.

Employer contribution levels are a business decision and can be structured by employee-only and dependent coverage tiers. When setting a contribution strategy, consider your recruiting goals, workforce pay levels, plan affordability, and long-term budget. A benefits advisor can model different contribution amounts so you can see the employer cost and the employee payroll deduction before selecting a plan.

A useful calculation generally requires employee ages, ZIP codes, coverage elections, employment status, and any dependent information needed for quoting. It also helps to know the current plan design, renewal date, employer contribution approach, claims experience when available, and desired benefits. These details make it possible to compare carrier quotes and funding models on a more consistent basis.

With fully insured coverage, the employer pays a set premium and the insurance carrier assumes the claims risk. Level-funded coverage also uses a fixed monthly payment, but it is a form of self-funding and may return a surplus if claims are lower than expected. Both require careful comparison of plan terms, risk protection, and potential renewal outcomes.

Yes, an Individual Coverage Health Reimbursement Arrangement can allow an employer to set reimbursement amounts for employees’ individual health coverage and eligible expenses. Employers may vary allowances for permitted employee classes, subject to applicable rules. In general, an employer cannot offer a traditional group plan and an ICHRA to the same employee class, so careful design and employee communication are essential.

They should be included in the total benefits budget. An HSA must be paired with a qualified health plan and is owned by the employee, while an HRA is employer-owned and can help reimburse all or part of an employee deductible. Modeling these contributions alongside premiums helps employers compare the full cost and value of each plan design.

Yes. Franklin Benefits Group is contracted with dozens of carriers and can conduct in-depth market analysis and plan comparisons. Employers can use a Broker of Record letter to authorize this review without waiting for their renewal date or changing their current plan immediately. The process can help identify coverage, contribution, and funding alternatives that better match business objectives.

Begin reviewing options well before the renewal date so there is time to collect census information, evaluate current plan performance, compare markets, and communicate changes to employees. Businesses may also benefit from a review after workforce growth, a budget change, new locations, or recurring claims concerns. Broker of Record support can be initiated during the plan year.