Plan Ledger DOL Form 5500 · updated monthly

Financial Designs, Inc.benefits

Financial Designs, Inc. · NOVI, MI · plan year 2024

Broker compensation reported · 2024
$95,273

Financial Designs, Inc.'s benefits plans covered 540 active participants in 2024, providing vision. Insurance brokers and agents were paid $95,273 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That is $176 per covered person, below the median for employer plans that report broker pay. Brokers were paid 13.4x the $7,134 reported for 2023.

Insurance contracts · 20242
PRINCIPAL LIFE INSURANCE COMPANY · dental vision ppopremiums n/a · 333 covered
ALLIANCE HEALTH AND LIFE INSURANCE COMPANY · ppopremiums n/a · 207 covered
Brokers & agents paid · 20242
HEALTH ALLIANCE ADMINISTRATORS INC.$16,753
FINANCIAL DESIGNS, INC.$78,520
Also brokered by Health Alliance Administrators Inc.2
Oxford Bank MI$11,165

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Source: DOL Form 5500 Schedule A, plan year 2024, EIN 381944162 · Verify on EFAST2 · Amounts are as reported by the plan sponsor.