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HSA Savings - 360° Analysis

HSA Savings - 360° Analysis Definitions

FICA and other taxes
FICA and Medicare taxes are not collected on any health insurance premiums paid by the employer or contributions to an HSA as long as those contributions are paid on a pre-income tax basis from an employee's paycheck. This calculator assumes that all employees are under the maximum FICA tax payment limits.
Average employee federal income tax
The marginal federal income tax rate that the average employee is expected to pay. Tax brackets are available at http://www.irs.gov.
Average employee state income tax
The marginal state income tax that the average employee is expected to pay.
FUTA and SUTA tax
FUTA, federal unemployment tax, and SUTA, state unemployment tax, are generally not collected on health insurance premiums or HSA contributions.
Average primary copay
Cost of the average primary visit copay amount under traditional plan.
Average specialist copay
Cost of the average specialist visit copay amount under traditional plan.
Average prescription copay
Cost of the average prescription copay amount under traditional plan.
Average cost of primary visit
Average cost of a primary care visit under HDHP/HSA plan.
Average cost of specialist visit
Average cost of a specialist care visit under HDHP/HSA plan.
Average cost of a prescription
Average cost of a prescription under HDHP/HSA plan.
Coinsurance paid by member after HDHP deductible
The percent of medical expenses that is paid by the individual after the deductible has been paid.
Average # of primary visits
The number of primary visits an average employee will have each year.
Average # of specialist visits
The number of specialist visits an average employee will have each year.
Average # of prescriptions
The number of prescriptions an average employee will have each year.
Years until retirement
Number of years until the individual retires.
Employee HSA contribution strategy
Choose "Match Deductible" to indicate that employees are likely to contribute an amount equal to the annual deductible. Choose "Annual Maximum" if employees are more likely to contribute the maximum amount allowed per year.
HSA administration fee (per participant, per month)
Fee paid by employer per participant/per month for HSA administration services.
# of enrolled employees
Total number of employees to be covered by one of these plan options.
% single coverage
Percent of employees that will have single coverage health insurance.
% family coverage
Percent of employees that will have family coverage health insurance.
Traditional plan - employee premium (single)
Health insurance premium paid annually by the employee for single coverage under traditional plan.
Traditional plan - employer premium (single)
Health insurance premium paid annually by the employer for an employee with single coverage under traditional plan.
Traditional plan - employee premium (family)
Health insurance premium paid annually by the employee for family coverage under traditional plan.
Traditional plan - employer premium (family)
Health insurance premium paid annually by the employer for an employee with family coverage under traditional plan.
HDHP w/ HSA - employee premium (single)
Health insurance premium paid annually by the employee for single coverage under HSA/HDHP plan.
HDHP w/ HSA - employer premium (family)
Health insurance premium paid annually by the employer for an employee with family coverage under HDHP/HSA plan.
HDHP w/ HSA - employee premium (family)
Health insurance premium paid annually by the employee for family coverage under HDHP/HSA plan.
HDHP w/ HSA - employer premium (single)
Health insurance premium paid annually by the employer for an employee with single coverage under HDHP/HSA plan.
HDHP deductible amount
The HDHP deductible for single person coverage and for family coverage.
Annual employer HSA contribution (single)
Employer contribution to HSA for employees with single coverage.
Annual employer HSA contribution (family)
Employer contribution to HSA for employees with family coverage.