How much do employee benefits cost?
Please see; what are employee benefits for a description.
It’s like asking “how long is a piece of string” which people claim they can’t answer but I’d say a piece of string is about 18 inches, so in like manner I will tell you how much employee benefits cost even though there are many variables.
$1.00 per hour per employee average is a good rule of thumb.
Let me explain. I explained what are employee benefits, already on another page, so in this section I will just deal with the costs
The cost of life insurance is usually about $4.00 to $5.00 per month depending on age of course.
Life Insurance: $4.00/mo.
AD & D $25,000 $ 1.00/mo.
Dep life 5k 2500 $1.00/mo.
Disability:
Short Term Disability $15.00/mo.
Long Term Disability $15.00/mo.
Critical Illness $25,000 $15.00/mo.
Extended Health Care $40.00/mo. single or $90.00/mo. family
Dental Care $40.00/mo. single or $90.00/mo. family
Total $130.00/mo. single or $231.00/mo. family an average $180.50/mo.
Approximately $1.00 per hour per employee, average
Variables include average age, number of employees, type of industry, whether 80% or 100% health and dental, maximums such as vision care and salaries covered for disability – just to name a few of the variables.
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