Plan Ledger DOL Form 5500 · updated monthly

Novo Constructionbenefits

Novo Construction Welfare Benefits Plan · MENLO PARK, CA · plan year 2024

Broker compensation reported · 2024
$250,649

Novo Construction's benefits plans covered 230 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance brokers and agents were paid $250,649 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That is $1,090 per covered person, in the top 10% of employer plans that report broker pay. Broker pay rose 4.1% from $240,705 in 2023.

Insurance contracts · 20244
KAISER FOUNDATION HEALTH PLAN, INC. · health drug hmopremiums n/a · 99 covered
BLUE CROSS OF CALIFORNIA · health drug dental hmo ppopremiums n/a · 479 covered
VISION SERVICE PLAN · visionpremiums n/a · 210 covered
ANTHEM LIFE INSURANCE COMPANY · life std ltdpremiums n/a · 250 covered
Brokers & agents paid · 20242
WORD & BROWN INSURANCE ADMIN., INC.$52,087 · incl $52,087 fees
GALLAGHER BENEFIT SERVICES, INC.$198,562 · incl $4,036 fees
Also brokered by Word & Brown Insurance Admin., Inc.3
Cofreight Inc CA$112,894

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Source: DOL Form 5500 Schedule A, plan year 2024, EIN 912100953 · Verify on EFAST2 · Amounts are as reported by the plan sponsor.