Iba Group Insurance Trustbenefits

Iba Group Insurance Trust's benefits plans covered 1,499 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance premiums totaled $1,238,900. Insurance brokers and agents were paid $85,084 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 6.9% of premiums. That is $57 per covered person, in the bottom quarter of employer plans that report broker pay. Broker pay rose 27% from $67,180 in 2023.