How to calculate your bi-weekly insurance premiums
How to calculate your bi-weekly insurance premiums
This job aid will show you how to convert a monthly premium amount into a bi-weekly premium amount. Insurance premiums are automatically deducted from each of the 26 pay periods throughout the year. You will pay premiums bi-weekly. 1. Take the monthly premium amount of your benefit and multiply that by 12 months 2. Divide that result by 26 pay periods to find your bi-weekly premium amount
Example
The Balanced HRA for employee only rate is $175 per month in 2017 Take the monthly rate of $175.00 X 12 (months) / 26 (pay periods) = $80.77 per pay period
Result
You can expect to pay $80.77 out of each paycheck for the Employee only Balanced HRA medical plan.
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