New Jersey Bankers Associationbenefits

New Jersey Bankers Association's benefits plans covered 8,799 active participants in 2024, providing health · life · dental · vision · long-term disability · death benefits. Insurance premiums totaled $6,977,278. Insurance brokers and agents were paid $517,528 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 7.4% of premiums. That is $59 per covered person, in the bottom quarter of employer plans that report broker pay. Broker pay fell 25% from $689,493 in 2023.