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How much do employee benefits cost?

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.

Contact Ron today at (604) 644-7662 to find out how we can help protect your company’s future.

It takes blood, sweat and tears to run your own business. But as an entrepreneur, you wouldn’t have it any other way. Protect your investment and hard work with Employee Benefit Insurance so you can rest easy.