West Alabama Bank & Trustbenefits

West Alabama Bank & Trust's benefits plans covered 142 active participants in 2024, providing health · life · dental · vision · short-term disability · long-term disability · other. Insurance premiums totaled $707,638. Insurance brokers and agents were paid $12,442 in commissions and fees, costs that ultimately come out of what the employer and employees pay for coverage. That works out to 1.8% of premiums. That is $88 per covered person, below the median for employer plans that report broker pay. Broker pay fell 69% from $39,538 in 2023.