Understand the benefits enrollment table

Use this table to understand your company's group insurance including members, dependents, and corresponding costs.

1. Estimated Premium: The total cost of the health insurance, including both employee and employer contributions.
2. Company Contribution: The total cost to your company for health insurance per month, based on your contribution strategy.  
3. Employee Deductions: The sum of all deductions taken from your employees to pay for their premiums. This amount is removed from your team’s wages pretax and left in your company account so that you can pay the carrier directly.
4. Benefits: A list of each employee’s plan selection for each benefit offered.
5. Effective Date: Your coverage applies to all enrolled employees during this time frame. Treatment received outside of these dates will not be covered by this policy.
6. Employee Monthly Premium: A breakdown of premium cost per employee per benefit. The bottom row is a sum of all benefit premiums per employee.
7. Dependents Monthly Premium: If your employees have any dependents on their insurance policies, you’ll see the cost of the dependents’ premiums in this column. The number of dependents is listed with each plan in the "Benefits" column.
8. Total Monthly Premium: The total premium cost for both the employee and any dependents on the policy.
9. Company Contribution: A break down of the cost to your company for each benefit per employee.
10. Employee Deductions: This number reflects the pre-tax deductions that are applied to each enrolled employee per month. This money is left in your company account so that you can pay the carrier directly.

Note: This is relevant to companies who have benefits with Gusto. If your benefits are managed externally, you will not see this table.

If your benefits are managed by Gusto and you have a new employee joining your team, you can estimate their monthly benefits cost from your Gusto admin account.

1. Sign in to Gusto.
2. Click the Benefits section.
3. Click Estimate New Hire Cost.  
4. Enter the employee’s personal information:
   • First name
   • Last name
   • Birthday
5. Click Get Estimate.

Based on the employee’s date of birth, we’ll estimate their monthly premium cost. The summary provides a range of monthly premium costs based on the various benefits and plans you offer, and whether the employee has dependents.

If you’d like to see the premiums of each plan, click Download Cost Breakdown (PDF). The PDF breaks down the employee, spouse, and child costs for each plan that you offer.

Assumptions and methodology: Estimated costs are used for illustrative purposes only—actual costs will vary. The estimated cost assumes that any child dependent is younger than 18 and any spouse is the same age as the employee.