BANK7benefits

BANK7's benefits plans covered 128 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance premiums totaled $104,455. Insurance brokers and agents were paid $94,041 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 90.0% of premiums. That is $735 per covered person, in the top 10% of employer plans that report broker pay. Broker pay rose 8.4% from $86,747 in 2023.