HowToHR

What are your benefits actually costing you?

Five inputs, all of which are on your renewal letter and a recent invoice. You will see your annual spend, where it lands in three years if nothing changes, and what each percentage of reduction is worth in real dollars.

Your numbers

Rounded figures are fine. Your renewal letter and a recent invoice have all of this.

Enrolled, not total headcount.

Employer and employee share combined.

The percentage your rates went up at your most recent renewal.

The share of the premium you pay. Leave at 75 if you are not sure.

What that adds up to

Current annual premium spend
$312,000

$26,000 a month

Three-year spend if renewals keep rising at 9%
$1,022,767

Year three alone: $370,687

Annual spend, today against each scenario

$312,000

Today

$296,400

5% lower

$280,800

10% lower

$265,200

15% lower

What a reduction would be worth

This is arithmetic, not a projection. It shows what each percentage off your current spend equals in dollars, so you know what is worth chasing.

Annual dollar value of a five, ten, and fifteen percent reduction in premium spend
ReductionNew annual spendDifference a yearYour share of it
5%$296,400$15,600$11,700
10%$280,800$31,200$23,400
15%$265,200$46,800$35,100

Illustrative estimates only. Actual costs and savings depend on your group’s census, claims, plan design, and carrier underwriting.

Get my actual numbers

We will carry these figures over so you do not type them twice.

Numbers on a screen are a start. A read of your actual renewal is better.

Send us your renewal letter and summary of benefits and we will tell you what is driving your cost, in writing, for free.

Book my free review