Rhode Island Noveltybenefits

Rhode Island Novelty's benefits plans covered 166 active participants in 2024, providing life. Insurance premiums totaled $66,622. Insurance brokers and agents were paid $4,761 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 7.1% of premiums. That is $29 per covered person, in the bottom quarter of employer plans that report broker pay. Broker pay fell 5.1% from $5,019 in 2023.