Smith Tank and Steel, Inc.benefits

Smith Tank and Steel, Inc.'s benefits plans covered 243 active participants in 2024, providing health · life · dental · vision · other. Insurance premiums totaled $2,441,583. Insurance brokers and agents were paid $178,048 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 7.3% of premiums. That is $733 per covered person, in the top 10% of employer plans that report broker pay. Broker pay rose 36% from $130,929 in 2023.