Robert DeNinno Jr., Principal of the Philadelphia based Precision Benefits Group was quoted in the CNN Business article, entitled “You know your salary. But how much are you really making? Calculate your total compensation.” The piece written by Jeanne Sahadi discusses how employees can estimate their total compensation, including their employee benefits packages to provide a more accurate measure of their total compensation package.
In regards to employer healthcare coverage which employers usually cover 70%-85% of, Deninno said, “some employers may also offer a smaller subsidy if an employee chooses a family coverage plan.”
“Disability insurance and life insurance are both good to have.” said DeNinno about less immediate, but value benefits. “If it’s tough to ferret out what your employer spends on these, a good ballpark range for both types of coverage combined might be $300 to $800 annually, depending on your income and the plan’s design. “
Read the full CNN Business article.
One of PBG’s newest benefits administration and HR tools that we offer our clients at no cost, Ease, features an employee compensation module that can produce a detailed total employee compensation report, including salary and employee benefits.
If you would like to learn more about how Ease can positively impact your organization, please contact us!