South Plains Electric Coop, Inc.benefits

South Plains Electric Coop, Inc.'s benefits plans covered 373 active participants in 2024, providing health · life · long-term disability. Insurance premiums totaled $1,812,854. Insurance brokers and agents were paid $44,547 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 2.5% of premiums. That is $119 per covered person, below the median for employer plans that report broker pay. Broker pay rose 33% from $33,608 in 2023.