Benefits budget target calculator: how much can you spend per employee?
Enter headcount, average pay, a target share of payroll and benefits already committed to see the monthly amount left for health coverage. Built for finance teams setting a budget.
Set a benefits budget from a payroll target.
The target share is your goal. The result updates as you type.
For example life, disability and dental.
Your estimate
A planning calculation from the target you set.
Why set a budget as a share of payroll?
A budget tied to payroll rises and falls with the size and pay of the workforce, which keeps benefits cost in step with the business. It also gives HR and finance a common number to plan against. The share you choose is a policy decision that reflects how much you want benefits to be part of total pay.
How do I use the amount left for health?
Compare it with your current employer contribution per employee. If the amount is lower, you have to adjust the share of payroll, the contribution strategy, the plan design or the other benefits. If it is higher, you have room to improve the plan. Our contribution and cost projection calculators help test the options.
Common questions
What share of payroll is typical?
It varies by industry, size and pay level. Compare your own figure over time and ask us for a benchmark for your market.
Is the budget for the employer cost only?
Yes. It covers what the employer spends, not what employees pay.
How does this tie to the percent of payroll calculator?
That calculator starts from your actual spending and shows the share. This one starts from the share and shows the spending.
Can you help set the strategy?
Yes. We can help set the target and design the plan to fit it.
Talk to us about your benefits budget
Book a 30-minute call and we will look at your payroll, your plan cost and a strategy that fits the budget. Visit us at 41000 Woodward Avenue, Suite 350 East, Bloomfield Hills, MI 48304, or call 248.370.8853.
Unhappy With Your Current Broker?
Switching to CFH takes one signed letter. Your carrier, plan, ID cards and payroll deductions stay the same.
Related guides and tools.
Health and Cost Strategy
How we manage plan cost without cutting coverage.
Free Employer Benefits Tools
The full set of free calculators for employers.
What We Do
Everything we handle for employers.
Benefits Cost Per Hour Worked Calculator
See what benefits add to an hour of pay.
PMPM Claims Calculator
Calculate claims per member per month.
Headcount Growth Benefits Budget Calculator
Project plan cost as headcount and trend grow.
An independent employee benefits consulting firm. We look at the entire benefits program — cost, plan performance, risk and administration.
Switch to CFH. Unhappy with your broker? Your employees won’t notice. You will. →