Sumter Electric Cooperative, Inc.benefits

Sumter Electric Cooperative, Inc.'s benefits plans covered 440 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits · other. Insurance premiums totaled $891,803. Insurance brokers and agents were paid $142,104 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 15.9% of premiums. That is $323 per covered person, above the median for employer plans that report broker pay. Broker pay rose 3.6% from $137,174 in 2023.