Minster Bankbenefits

Minster Bank's benefits plan covered 95 active participants in 2023, providing health · life · dental · vision · other. Insurance premiums totaled $715,760. Insurance brokers and agents were paid $39,397 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 5.5% of premiums. That is $415 per covered person, above the median for employer plans that report broker pay.