Illinois Bankers Associationbenefits

Illinois Bankers Association's benefits plans covered 1,660 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability. Insurance premiums totaled $20,258,739. Insurance brokers and agents were paid $58,266 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 0.3% of premiums. That is $35 per covered person, in the bottom quarter of employer plans that report broker pay. Broker pay rose 84% from $31,694 in 2023.