Formagrid, Inc.benefits

Formagrid, Inc.'s benefits plans covered 588 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · other. Insurance premiums totaled $111,518. Insurance brokers and agents were paid $447,020 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 400.9% of premiums. That is $760 per covered person, in the top 10% of employer plans that report broker pay. Broker pay fell 38% from $717,403 in 2023.