The Lincoln Electric Companybenefits

The Lincoln Electric Company's benefits plans covered 5,039 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · death benefits. Insurance premiums totaled $2,150,836. Insurance brokers and agents were paid $444,487 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 20.7% of premiums. That is $88 per covered person, below the median for employer plans that report broker pay. Broker pay fell 6.6% from $475,890 in 2023.