Magnum Electric, Inc.benefits

Magnum Electric, Inc.'s benefits plans covered 547 active participants in 2025, providing health · life · dental · vision · short-term disability · death benefits. Insurance premiums totaled $393,285. Insurance brokers and agents were paid $104,023 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 26.4% of premiums. That is $190 per covered person, above the median for employer plans that report broker pay. Broker pay rose 78% from $58,289 in 2024.