California Institute of Technologybenefits

California Institute of Technology's benefits plans covered 9,334 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance premiums totaled $19,552,108. Insurance brokers and agents were paid $806,239 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 4.1% of premiums. That is $86 per covered person, below the median for employer plans that report broker pay. Brokers were paid 3.8x the $212,028 reported for 2023.