Salem Electric Company, Inc.benefits

Salem Electric Company, Inc.'s benefits plans covered 153 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance premiums totaled $88,636. Insurance brokers and agents were paid $54,238 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 61.2% of premiums. That is $354 per covered person, above the median for employer plans that report broker pay. Broker pay fell 24% from $71,338 in 2023.