Bmo Financial Corp.benefits

Bmo Financial Corp.'s benefits plans covered 19,704 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits · other. Insurance premiums totaled $9,086,398. Insurance brokers and agents were paid $1,556,332 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 17.1% of premiums. That is $79 per covered person, below the median for employer plans that report broker pay. Broker pay fell 14% from $1,812,960 in 2023.