University of Michigan Credit Unionbenefits

University of Michigan Credit Union's benefits plans covered 385 active participants in 2024, providing health · dental · life · long-term disability · short-term disability · vision. Insurance premiums totaled $2,630,957. Insurance brokers and agents were paid $123,999 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 4.7% of premiums. That is $322 per covered person, above the median for employer plans that report broker pay. Broker pay was essentially unchanged from 2023.