You may use this calculator to estimate your tax savings by participating in your employers Section 125 Cafeteria Plan. You simply enter your expenses (insurance premiums included) in the fields provided and then click the "Calculate Savings" button at the end of the form to see your "estimated" tax savings. NOTE: This calculator is to be used for an estimate only and is designed to serve as a guide to evaluating the advantages a Section 125 Cafeteria Plan may provide you and your family.
1. Input Your Estimated Employee Paid Insurance Premiums Per Plan Year:
Health Insurance Portion You Pay
$
Dental and/or Vision Insurance Portion You Pay
$
Group Term Life Insurance Portion You Pay
$
Disability Insurance Portion You Pay
$
Portions of Any Other Insurance Premiums You Pay
$
Estimated Out of Pocket Premiums - Annual Total
$

2. Input Your Estimated Dependent Care Expenses Per Plan Year:
Child Day Care
$
Nursery / Pre-School
$
After School Care
$
Summer Day Camps (instead of day care)
$
Elderly Care
$
Estimated Dependent Care Expenses - Annual Total Total
$

3. Input Your Estimated Out-of-Pocket Medical Expenses Per Plan Year:
Medical - deductibles, office visits, including specialists visits
$
Prescription Costs - you (and your dependents) expect to spend
$
Dental - services such as x-rays, cleanings, bridges, crowns and orthodontia
$
Vision - eye exams, prescription glasses, contacts, laser eye surgery, etc
$
Over the Counter Items - medicines (aspirin, cold and flu medicines), etc
$
Estimated Out of Pocket Medical Expenses - Annual Total
$

4. Your Estimated Savings
Tax Rates: (Default 17% Federal and 5% State or enter your own rates, 7.65% ss rate is standard)
Federal
State
Social Security
%
%
7.65%

What is Your Annual Income
$
Annual Number of Pay Checks

 
Without Plan
With Plan
Annual Income
$
$
Out-of-Pocket Pre-Tax Premiums
  
$
Out-of-Pocket Pre-Tax Dependent Care
  
$
Out-of-Pocket Pre-Tax Medical
 
$
Total After Tax Expenses
$
 
Federal, State, and Social Security Taxes
$
$
Yearly Net Income
$
$
Yearly Savings
$
$
Savings Per Pay Check
$
$
 
Without Plan
With Plan