Plan Ledger DOL Form 5500 · updated monthly

Novatec, Incbenefits

Novatec, Inc · BALTIMORE, MD · plan year 2024

Broker compensation reported · 2024
$49,519

Novatec, Inc's benefits plans covered 106 active participants in 2024, providing life · dental · vision · short-term disability · long-term disability · other. Insurance brokers and agents were paid $49,519 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That is $467 per covered person, in the top quarter of employer plans that report broker pay. Broker pay fell 12% from $56,469 in 2023.

Insurance contracts · 20242
CIGNA HEALTH AND LIFE INSURANCE · healthpremiums n/a · 77 covered
GUARDIAN LIFE INSURANCE · dental vision life std ltdpremiums n/a · 106 covered
Brokers & agents paid · 20243
RIGGS COUNSELMAN MICHAELS & DOWNS$23,783
RIGGS, COUNSELMAN MICHAELS & DOWNES$12,685
FOSTERTHOMAS INC$13,051 · incl $2,188 fees
Also brokered by Riggs Counselman Michaels & Downs3

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Source: DOL Form 5500 Schedule A, plan year 2024, EIN 520815915 · Verify on EFAST2 · Amounts are as reported by the plan sponsor.