Spratt Savings Bankbenefits

Spratt Savings Bank's benefits plans covered 33 active participants in 2024, providing health · life · short-term disability · vision · long-term disability. Insurance premiums totaled $230,360. Insurance brokers and agents were paid $4,418 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 1.9% of premiums. That is $134 per covered person, below the median for employer plans that report broker pay. Broker pay rose 24% from $3,552 in 2023.