Philips North America LLCbenefits

Philips North America LLC's benefits plans covered 16,683 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits · other. Insurance premiums totaled $3,141,245. Insurance brokers and agents were paid $1,220,222 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 38.8% of premiums. That is $73 per covered person, below the median for employer plans that report broker pay. Broker pay fell 4.8% from $1,281,162 in 2023.