Bates Electric, Inc.benefits

Bates Electric, Inc.'s benefits plans covered 171 active participants in 2024, providing health · life · dental · vision. Insurance premiums totaled $924,707. Insurance brokers and agents were paid $57,297 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 6.2% of premiums. That is $335 per covered person, above the median for employer plans that report broker pay. Broker pay fell 7.0% from $61,639 in 2023.