Newburyport Five Cents Savings Bankbenefits

Newburyport Five Cents Savings Bank's benefits plan covered 137 active participants in 2023, providing vision. Insurance premiums totaled $22,070. Insurance brokers and agents were paid $1,424 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 6.5% of premiums. That is $10 per covered person, in the bottom quarter of employer plans that report broker pay.