Board of Trustees Ibew Local No 640 & Arizona Chapter Neca H&Wbenefits

Board of Trustees Ibew Local No 640 & Arizona Chapter Neca H&W's benefits plans covered 2,138 active participants in 2024, providing death benefits · short-term disability · dental · life · health. Insurance premiums totaled $1,733,699. Insurance brokers and agents were paid $26,560 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 1.5% of premiums. That is $12 per covered person, in the bottom quarter of employer plans that report broker pay. Brokers were paid 15.3x the $1,734 reported for 2023.