Formetco, LLCbenefits

Formetco, LLC's benefits plans covered 120 active participants in 2024, providing health. Insurance premiums totaled $523,057. Insurance brokers and agents were paid $48,115 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 9.2% of premiums. That is $401 per covered person, above the median for employer plans that report broker pay. Broker pay fell 27% from $65,663 in 2023.