Commercial Bank
Updated Filing received by DOL
Commercial Bank, a finance & insurance employer in Ithaca, Michigan, reported 100 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $922,462 in insurance premiums across 5 contracts and $56,428 in broker commissions and fees, 4.8% of medical premium against a national median of 3.8% among plans that paid commissions in plan year 2024. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on March 10, 2026, within the extension window.
Who was paid on Commercial Bank's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Commercial Bank filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Michael Dilorenzo · Washington Township, MI | $43,652 | $0 | $43,652 | 1 |
| Michigan Planners, Inc · Washington Township, MI | $10,828 | $1,948 | $12,776 | 9 |
Source: DOL Form 5500 Schedule A, Part I (broker commissions and fees), plan year 2024, as published in EBSA's 2024 "Latest" dataset. Part I names whoever the carrier paid, which can be a firm or an individual agent; both are public record. Amounts exclude pay from carriers not tied to a listed contract.
Insurance contracts and carriers
Every insurance contract reported on Schedule A: carrier, what it covers, people covered at year end, earned premium, and broker compensation.
| Carrier · coverage | Covered | Premium | Broker pay | Rate |
|---|---|---|---|---|
| Blue Cross Blue Shield of Michiganhealth, vision, prescription drug, PPO | 172 | $922,462 | $44,611 | 4.8% |
| United of Omaha Life Insurance Companylong-term disability | 94 | — | $2,833 | — |
| United of Omaha Life Insurance Companylife | 94 | — | $2,271 | — |
| United of Omaha Life Insurance Companyshort-term disability | 94 | — | $3,324 | — |
| United of Omaha Life Insurance Companylife | 60 | — | $3,389 | — |
Source: DOL Form 5500 Schedule A, plan year 2024. Self-funded medical coverage has no premium; amounts shown for it are stop-loss or administrative contracts.
How Commercial Bank compares
Medians across employers for plan year 2024, the most recent complete year. Commission rates use fully insured medical contracts only; dollar medians use every employer that disclosed broker pay.
Premium per covered person on medical contracts: $5,363 a year (national median $7,274).
Source: BenefitsLedger benchmarks from 58,547 employer health plans with 100 or more participants, plan year 2024. Methodology.
Filings and timeliness
Plans this employer filed under its EIN with a health benefit code. Large plans are due seven months after the plan year ends, or two and a half months later with an extension; amended filings carry the amendment date, so no timing is asserted for them.
| Plan | Plan year end | Received by DOL | Timing | Participants |
|---|---|---|---|---|
| Commercial Bank Employee Benefits Plan#501 · insurance, general assets | July 31, 2025 | March 10, 2026 | within extension | 100 |
Source: DOL Form 5500 Part I and signature dates; "late" means received after the extended deadline (the 15th day of the tenth month after plan year end). What a late Form 5500 costs.
How much did Commercial Bank pay in health insurance broker commissions in 2024?
Commercial Bank's 2024 Form 5500 reports $56,428 in broker commissions and fees across 5 insurance contracts ($54,480 in commissions, $1,948 in fees), with Michael Dilorenzo receiving the largest share.
Is Commercial Bank's health plan self-funded or fully insured?
The 2024 filing indicates the plan is a mix of insured and self-funded coverage. Medical coverage is written by Blue Cross Blue Shield of Michigan.
How does Commercial Bank's broker compensation compare with similar employers?
Commercial Bank paid 4.8% of medical premium in commissions and fees. The median for employers with 100-199 participants is 4.2%, and the median in Michigan is 3.2%. Percentages are computed only on fully insured medical contracts with filed premiums.
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Record built October 24, 2026 from U.S. Department of Labor, EBSA Form 5500 datasets (2025, 2024, 2023 plan years, 'Latest' files). Filings can run 7 to 10 months behind the plan year; always confirm against current plan documents. BenefitsLedger is not affiliated with the U.S. Department of Labor. Open the DOL filing search.