First American Bankbenefits

First American Bank's benefits plans covered 200 active participants in 2024, providing health · life · dental · vision · long-term disability · other. Insurance premiums totaled $1,502,226. Insurance brokers and agents were paid $19,802 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 1.3% of premiums. That is $99 per covered person, below the median for employer plans that report broker pay. Broker pay rose 16% from $17,130 in 2023.