Layoff Financial Tools: Calculate Severance, Runway, Unemployment &amp; Health Costs

Best for: Anyone who just lost a job and needs the big picture.
What it estimates: How many months your savings, severance, and PTO can cover expenses.
What it does not replace: Detailed tax planning or state unemployment rules.

Emergency Budget Calculator

Best for: Cutting spending fast while income is uncertain.
What it estimates: A survival budget that separates essential from optional expenses.
What it does not replace: A full financial plan or debt-restructuring advice.

Final Paycheck Calculator

Best for: Understanding your last check and PTO payout timing.
What it estimates: Remaining wages, PTO payout by state, bonuses, and when it is legally due.
What it does not replace: Your state's exact final-pay law or a wage claim.

Severance and taxes

Value the offer, spot red flags, and plan for the tax hit.

Severance Package Checker

Best for: Anyone who received a severance offer or paperwork.
What it estimates: Package value, strength rating, red flags, and HR questions before you sign.
What it does not replace: An employment attorney's review of your agreement.

Severance Tax Calculator

Best for: Knowing the net, not the headline, severance amount.
What it estimates: How federal and state withholding may reduce a lump-sum payout.
What it does not replace: Your final tax bill or a CPA's advice.

PIP vs Severance Decision Tool

Best for: Weighing a Performance Improvement Plan against an exit offer.
What it estimates: Which path scores better, plus red flags and HR questions.
What it does not replace: Legal advice on your specific PIP or agreement.

Income replacement

Estimate the support you may qualify for.

Unemployment Benefits Estimator

Best for: Estimating income support after job loss.
What it estimates: A possible weekly benefit range to plan around.
What it does not replace: Your state's official eligibility determination.

Health insurance

Compare coverage costs before your plan ends.

COBRA vs Marketplace Calculator

Best for: Choosing coverage when your job-based plan ends.
What it estimates: Monthly cost and coverage tradeoffs between COBRA and ACA Marketplace plans.
What it does not replace: Subsidy eligibility checks on HealthCare.gov or plan documents.

Retirement and long-term money

Protect long-term savings while you recover.

401(k) After Layoff Decision Helper

Best for: Deciding what to do with a 401(k) after leaving.
What it estimates: Tradeoffs of leaving it, rolling it over, or cashing out.
What it does not replace: Personalized investment or tax advice.

WARN notice filed: what employees should do RSU vesting after layoff Severance and unemployment COBRA subsidy after layoff H-1B layoff action plan PTO payout by state Remote worker layoff checklist

Decision Pages for Special Situations

Deeper, employee-first guides for the specific questions the calculators can't fully answer.

Prepare Your Budget for a Layoff

A normal monthly budget is not the same as a layoff budget. A layoff budget should separate essential bills, negotiable expenses, pause-now spending, healthcare costs, and debt minimums so you can protect cash while income is uncertain.

Layoff Budget Worksheet

Enter your current monthly amount, then a reduced (layoff) amount to see how much you could free up. Runs entirely in your browser — nothing is saved.

Category	Current monthly	Reduced budget	Monthly savings
Rent or mortgage			—
Utilities			—
Groceries			—
Transportation			—
Health insurance			—
Medications			—
Debt minimums			—
Childcare or family support			—
Phone and internet			—
Insurance			—
Subscriptions			—
Job search costs			—
Other essentials			—
Totals	$0	$0	$0

Rent or mortgage

Current

Reduced

Utilities

Current

Reduced

Groceries

Current

Reduced

Transportation

Current

Reduced

Health insurance

Current

Reduced

Medications

Current

Reduced

Debt minimums

Current

Reduced

Childcare or family support

Current

Reduced

Phone and internet

Current

Reduced

Insurance

Current

Reduced

Subscriptions

Current

Reduced

Job search costs

Current

Reduced

Other essentials

Current

Reduced

Current monthly budget

Reduced monthly budget

Monthly savings

Everything you type stays in your browser — LayoffNext does not save or send anything you enter.

Build Emergency Budget Calculate Runway

Financial Timeline After a Layoff

First 24 hours

Save permitted documents
Confirm your termination date
Confirm your benefits end date
List your immediate bills
Don't assume severance is final cash until reviewed

First 3 days

Estimate your runway
Review any severance paperwork
Check final paycheck and PTO
Identify your state unemployment website
Compare health insurance options

First 7 days

File unemployment as early as your state allows
Cut or pause non-essential expenses
Contact lenders before missing payments
Decide whether COBRA, Marketplace, a spouse/partner plan, Medicaid/CHIP, or another option may apply

First 30 days

Recalculate runway after actual payments arrive
Track taxes and withholding
Avoid unnecessary 401(k) withdrawals
Continue your job search and networking plan
Revisit your budget weekly

Official Rules and Deadlines to Verify

These are general reminders, not advice. Confirm the details that apply to you with the official source.

Severance

Federal law generally does not require severance under the FLSA. Severance usually depends on employer policy, an agreement, or a collective bargaining agreement. Verify your actual agreement and consider attorney review.

Unemployment

Claims are generally filed with the state where you worked. Contact your state unemployment program as soon as possible after becoming unemployed.

COBRA

COBRA may allow continuation of group health coverage for a limited period after job loss or reduced hours. Verify election timing and eligibility with your plan documents and official sources.

Marketplace

Loss of job-based coverage may create a Marketplace Special Enrollment Period. Verify deadlines on HealthCare.gov or your state exchange.

Final paycheck

Federal law does not require immediate final-paycheck payment, but some states do. Verify your state's rules.

Taxes

Severance pay, unemployment compensation, and accumulated leave can be taxable. Do not treat gross amounts as fully spendable cash.

401(k)

Early retirement withdrawals may trigger income tax and an additional 10% tax unless an exception applies. Consider alternatives before withdrawing.

Verify with official sources

Rules, thresholds, and deadlines change and vary by state — always confirm current details with the official source or a qualified professional before acting.

Examples: How to Use These Tools Together

No severance, limited savings

$5,000 savings, $4,000 monthly essentials, no severance.

Start with the runway calculator and emergency budget.
Then check unemployment and health insurance options.

Severance offer received

8 weeks severance, PTO payout, COBRA cost unknown.

Start with the Severance Package Checker.
Then the Severance Tax Calculator, COBRA vs Marketplace, and runway calculator.

H-1B worker with family coverage

Must verify termination date, visa timing, health coverage, and runway.

Start with the H-1B guide.
Then COBRA vs Marketplace and the runway calculator.

Considering a 401(k) withdrawal

Short runway with a retirement account balance.

Start with emergency budget and an unemployment estimate.
Then the 401(k) decision helper — and mind taxes and penalties.

Common Financial Mistakes After a Layoff

Counting gross severance as net cash

Waiting too long to understand unemployment rules

Ignoring health insurance cost

Forgetting final paycheck, PTO, bonus, equity, or commission timing

Treating COBRA as the only option without comparing Marketplace

Using 401(k) money before understanding the tax impact

Keeping a normal lifestyle budget instead of a layoff budget

Signing severance without reviewing deadline, release, non-compete, benefits, PTO, and unemployment wording

Still Planning Ahead?

If a layoff hasn't happened yet, these tools help you prepare before anything is announced.

Free tool

Am I about to be laid off?

Score 18 job-security factors and get a personal risk level plus a tailored action plan.

Check my layoff risk

Related Guides & Resources

Use these calculators alongside LayoffNext guides to build a complete recovery plan:

Before Layoff: Preparation Readiness Guide Start Here: Your Layoff Recovery Plan How to Build an Emergency Fund After a Layoff Unemployment Benefits: How to File by State H-1B & Visa Layoff Guide Layoff Email & Letter Templates WARN Act Layoff Notice Tracker Company Layoff Guides for Employees Build My Personalized Layoff Plan

Your next steps

Keep your momentum — here's where to go next.

Personalized plan

Build My Layoff Plan

Turn your numbers into a personalized first 24 hours, 7 days, and 30 days plan.

Calculator

Layoff Runway Calculator

See how many months your savings, severance, and PTO can cover.

Guide

Money After Layoff

Stabilize cash flow and protect your runway after a job loss.

Template

HR Email Template

Ask HR how your severance was calculated and what conditions apply.

Explore

Unemployment Benefits

How to file and what to expect in the state where you worked.