Needham Bankbenefits

Needham Bank's benefits plans covered 374 active participants in 2025, providing life · short-term disability · long-term disability · death benefits · other. Insurance premiums totaled $52,624. Insurance brokers and agents were paid $44,012 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 83.6% of premiums. That is $118 per covered person, below the median for employer plans that report broker pay. Broker pay was essentially unchanged from 2024.