Employee Benefit Plans

Our firm earns commissions from the insurance carriers when we place or renew policies. These commissions are typically a percentage of the premium, a per-insured fee, or another negotiated rate. The commission amount varies based on the insurance product and company chosen by the client. It is included in your premium payment to the insurance carrier. For small groups with under 50 employees, the commission is typically a fixed, non-negotiable amount set by the carrier.

On occasion, our firm may impose a service fee instead of or alongside the commissions received from the insurer. If we enter into a fee-based agreement with our clients, the details will be outlined in a written service or consulting agreement. This document will specify the services provided, the timeframe, and the fee amount.

Some of the insurers we work with may offer contingent commissions, which are not linked to a specific employer. Unlike the standard commissions mentioned earlier, these contingent commissions can be influenced by various factors, including the volume of business with the insurer, policy retention, and other criteria established by the insurer. These contingent commissions are not directly incorporated into the premium you pay. While our firm may receive these contingent commissions, it's important to note that we do not accept gifts, complimentary trips, or other incentives that insurance carriers sometimes offer to encourage agents to place business with them