First Guaranty Bank
Updated Filing received by DOL
First Guaranty Bank, a finance & insurance employer in Hammond, Louisiana, reported 378 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $4.1M in insurance premiums across 6 contracts and $159,334 in broker commissions and fees, 3.0% 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 December 12, 2025, before the deadline.
Who was paid on First Guaranty 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 First Guaranty Bank filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Centurion Insurance Services, LLC | $144,607 | $14,727 | $159,334 | 6 |
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 and Blue Shield of Louisianahealth | 265 | $4.1M | $121,800 | 3.0% |
| United of Omaha Life Insurance Companyvision | 266 | — | $3,712 | — |
| United of Omaha Life Insurance Companylong-term disability | 321 | — | $6,547 | — |
| United of Omaha Life Insurance Companylife | 350 | — | $6,109 | — |
| United of Omaha Life Insurance Companydental | 277 | — | $7,892 | — |
| United of Omaha Life Insurance Companylife | 207 | — | $13,274 | — |
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 First Guaranty 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: $15,321 a year (national median $7,274).
Source: BenefitsLedger benchmarks from 58,547 employer health plans with 100 or more participants, plan year 2024. Methodology.
Year over year
| 2023 | 2024 | Change | |
|---|---|---|---|
| Participants | 415 | 378 | −8.9% |
| Premiums filed | $0 | $4,059,986 | — |
| Broker commissions + fees | $235,303 | $159,334 | −32.3% |
| Commission rate | — | 3.0% | — |
Source: DOL Form 5500 filings for plan years 2023 and 2024.
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 |
|---|---|---|---|---|
| First Guaranty Bank Employee Benefits Plan#504 · insurance, general assets | August 31, 2025 | December 12, 2025 | before deadline | 378 |
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 First Guaranty Bank pay in health insurance broker commissions in 2024?
First Guaranty Bank's 2024 Form 5500 reports $159,334 in broker commissions and fees across 6 insurance contracts ($144,607 in commissions, $14,727 in fees), with Centurion Insurance Services, LLC receiving the largest share.
Is First Guaranty 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 and Blue Shield of Louisiana.
How does First Guaranty Bank's broker compensation compare with similar employers?
First Guaranty Bank paid 3.0% of medical premium in commissions and fees. The median for employers with 200-499 participants is 3.6%, and the median in Louisiana is 5.0%. 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.