Which benefits brokerages are paid the most by employer health plans?
Updated plan years 2023–2025 loaded
Marsh McLennan Agency was the highest-paid benefits broker on U.S. employer health-plan filings for plan year 2024, with $528M in reported commissions and fees from 5,659 employer plans, followed by Lockton ($431M) and Mercer ($393M). The ten largest brokerages collected $3.1B, 46% of the $6.9B employers reported paying all brokers.
| # | Brokerage | Commissions + fees | Employer plans | Median rate |
|---|---|---|---|---|
| 1 | Marsh McLennan Agency | $528,459,874 | 5,659 | 4.3% |
| 2 | Lockton | $431,245,948 | 3,347 | 3.1% |
| 3 | Mercer | $393,352,628 | 2,372 | 3.5% |
| 4 | Gallagher | $389,645,772 | 4,060 | 3.5% |
| 5 | USI Insurance Services | $328,425,460 | 4,604 | 4.2% |
| 6 | Willis Towers Watson | $285,195,188 | 1,898 | 3.0% |
| 7 | HUB International | $272,942,633 | 3,281 | 4.3% |
| 8 | Aon | $187,746,488 | 1,406 | 5.0% |
| 9 | Alliant Insurance Services | $184,999,545 | 1,943 | 4.4% |
| 10 | Brown & Brown | $146,456,439 | 2,144 | 3.7% |
Source: DOL Form 5500 and Schedule A, plan year 2024; data built October 24, 2026. Employer health plans with 100 or more participants. Full methodology.
How are brokers identified?
Schedule A Part I names each broker or agent paid on each insurance contract. The DOL field is cut at 35 characters and firms file under many spellings, so the largest firms are merged under one name with the as-filed spellings listed on the broker's page; smaller brokers appear as filed.
Does the ranking include 401(k) or retirement-plan brokers?
No. Only employer health and welfare plans (Form 5500 welfare benefit code 4A) are included, so the figures are benefits-broker pay, not retirement-plan advisor pay.