Employee Estimated Savings Sample
Any way you look at it, a Flexible Spending Account and Premium Contribution Plan will give you more spendable income. Whether a single parent, a one-income family, or anticipating future medical expenses not covered by your normal plan, using before-tax dollars for these expenses will save you money.
Before Enrolling
| Gross Monthly Salary | $2,000.00 |
| Less: Federal Income Tax State Income Tax Social Security Tax |
266.88 139.83 153.00 |
| Net Income | $1,440.29 |
| Less: Dependent Care Expenses Healthcare Expenses Healthcare Premium |
400.00 150.00 78.00 |
| Spendable Income | $812.29 |
After Enrolling
| Gross Monthly Salary | $2,000.00 |
| Less: Dependent Care Expenses Healthcare Expenses Healthcare Premium |
400.00 150.00 78.00 |
| Taxable Income | $1,372.00 |
| Less: Federal Income Tax State Income Tax Social Security Tax |
172.68 90.27 104.96 |
| Spendable Income | $1,004.09 |
| Monthly Increase |
$191.80 |
| Annual Increase | $2,301.60 |
Tax savings are general estimates only. Your taxes may be more or less than the example and may vary depending on state income taxes and filing status.
