Benefits

Benefits Calculator

This calculator analyzes the average health insurance, retirement, and legally required benefits individual's receive from their employers based on the demographic information you select. The average benefits are calculated utilizing the historical contributions by employers of people with similar demographics to those that you selected.

When Attorneys Use This Calculator

Attorneys utilize this calculator to assist in determining the value of their clients' benefits. This calculator is often used in cases in which there are losses to earnings.

For a calculation of your client's benefits and economic damages, complete a case form and a consultant will contact you shortly.

Terms and Conditions

Please read the Terms and Conditions before using the calculator.

Methodology

The dollar value and percentages of benefits provided by this calculator are based on the work experiences of individuals within the sectors and occupations selected.

The average contributions to health insurance premiums and retirement within this calculator are based on Bureau of Labor Statistics' Employer Costs for Employee Compensation (ECEC) data. The ECEC data are calculated based on the results of a survey of private and public establishments. These data detail the employer contributions to employees' wages and salaries, health insurance premiums, and retirement and savings programs such as pensions and 401k plans. These contributions are detailed as hourly values. The annual contributions to employees' health insurance premiums and retirement are determined by multiplying the respective contribution by a full-time schedule of 2,080 hours. The percentage of contributions are calculated as the respective contribution divided by the contributions to wages and salaries.

The average contributions to legally required benefits are calculated based on the tax rate contributions by employers to Social Security's Old-Age, Survivors, and Disability Insurance (OASDI) program and Medicare's Hospital Insurance (HI) program. The tax rates of these programs are 6.2% and 1.45%, respectively. These taxes are paid by the employer on behalf of the employee throughout their worklife. The annual contributions shown in this calculator are based on the average earnings for the sector and occupation entered, multiplied by these tax rates and then multiplied by a full-time schedule of 2,080 hours.

Note that some government employers do not make contributions to Social Security on behalf of their employees. These government employers generally offer pension plans in lieu of these contributions.

Data Updates

September 8, 2017 - Q2 2017 employer costs for employee compensation released.

June 9, 2017 - Q1 2017 employer costs for employee compensation released.

March 17, 2017 - Q4 2016 employer costs for employee compensation released.

December 8, 2016 - Q3 2016 employer costs for employee compensation released.

September 8, 2016 - Q2 2016 employer costs for employee compensation released.

June 9, 2016 - Q1 2016 employer costs for employee compensation released.

March 10, 2016 - Q4 2015 employer costs for employee compensation released.

December 9, 2015 - Q3 2015 employer costs for employee compensation released.

September 9, 2015 - Q2 2015 employer costs for employee compensation released.

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We also have writings and calculators available to help you learn more about your client's economic damages.