Is there any way I can find out how much my company pays for the monthly premium for my health insurance? Or, what percent they cover?
Thanks,
- Jinx
Have you asked them?
There is no way for anyone to tell you what the premiums are without knowing the exact census used to obtain the quote, and the exact coverage and type of plan and number of people participating and carrier.
It’s not a secret. Go ask your HR person, or office manager, or boss. Especially the percentage they cover - most companies want the employees to know.
I work on that type of thing for hundreds of thousands of people all day, every day. I agree that it probably isn’t a secret and your employer may just tell you.
The employer contribution varies a whole lot but tends to be very substantial. Combine that with the fact that group health plans cover even high-needs cases that couldn’t get good, outside insurance and you can see why that is a very attracted benefit.
The amount subsidized is going to range from 30% at the extreme cheap end to 80%+ at the expressive employer end.
If you have a family plan, the total premium should be 9 - 15K a year so figure your contributions based on that. The total premiums for a married couple might be 6 - 10K a year.
My contribution is itemized on my pay stub every week. It seems odd to me that you know neither the amount that you’re contributing nor the percentage they’re paying.
Will this number be equal to my COBRA payments?
COBRA payments can be equal to the total premium plus 2%. So whatever you pay for COBRA might be more than the actual monthly premium.