Save money by lowering your tax expense. By reducing overall employee taxable income, your company's Social Security and Medicare tax expense is reduced. This savings can offset the cost of other business expenses and the rising cost of benefit premiums. Use the calculator to the right by using the slider bars or just enter your Estimated Annual Premium per Employee to determine your total Annual FICA Savings. Total Annual Premium :. Annual FICA Savings :. With POP, your annual savings is.