Novatech, Inc.benefits

Novatech, Inc.'s benefits plans covered 516 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits · other. Insurance premiums totaled $309,795. Insurance brokers and agents were paid $120,974 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 39.0% of premiums. That is $234 per covered person, above the median for employer plans that report broker pay. Broker pay rose 46% from $82,978 in 2023.