Michigan Farm Bureaubenefits

Michigan Farm Bureau's benefits plans covered 1,109 active participants in 2024, providing health · life · dental · vision · long-term disability · death benefits · other. Insurance premiums totaled $3,405,058. Insurance brokers and agents were paid $190,960 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 5.6% of premiums. That is $172 per covered person, below the median for employer plans that report broker pay. Broker pay fell 19% from $234,745 in 2023.