Essex Savings Bankbenefits

Essex Savings Bank's benefits plans covered 128 active participants in 2024, providing health · life · dental · vision · long-term disability · death benefits. Insurance premiums totaled $1,607,130. Insurance brokers and agents were paid $82,295 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 5.1% of premiums. That is $643 per covered person, in the top quarter of employer plans that report broker pay. Broker pay fell 40% from $137,235 in 2023.