Bank of America Corporationbenefits

Bank of America Corporation's benefits plans covered 170,439 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits · other. Insurance premiums totaled $1,194,418. Insurance brokers and agents were paid $998,484 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 83.6% of premiums. That is $6 per covered person, in the bottom quarter of employer plans that report broker pay. Broker pay rose 150% from $400,099 in 2023.