Merchants Bancorpbenefits

Merchants Bancorp's benefits plans covered 733 active participants in 2025, providing health · life · dental · vision · short-term disability · long-term disability · other. Insurance premiums totaled $594,332. Insurance brokers and agents were paid $168,068 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 28.3% of premiums. That is $229 per covered person, above the median for employer plans that report broker pay. Broker pay rose 41% from $119,256 in 2024.