| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | DELTA DENTAL OF NEW JERSEY, INC. | $154K | $24K | $178K | 5.52% |
| GARY SCHEER3 | 65 MADISON AVENUE SUITE 540 MORRISTOWN, NJ 07960 | DELTA DENTAL OF NEW JERSEY, INC. | $2K | $0 | $2K | 0.06% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | SIERRA HEALTH AND LIFE INSURANCE COMPANY, INC. | $34K | $0 | $34K | 1.61% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | HARTFORD LIFE AND ACCIDENT | $160K | $47K | $207K | 30.48% |
| PAUL T VECCHIONE3 Filed as: PAUL VECCHIONE | 6 MATTHEWS FARM ROAD BELLE MEAD, NJ 08502 | HARTFORD LIFE AND ACCIDENT | $176 | $0 | $176 | 0.03% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | VISION SERVICE PLAN | — | $31K | $31K | 6.43% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | CIGNA BEHAVIORAL HEALTH, INC. | $0 | $18K | $18K | 27.26% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | ZURICH AMERICAN INSURANCE COMPANY | $9K | $0 | $9K | 20.00% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | ZURICH AMERICAN INSURANCE COMPANY | $7K | $0 | $7K | 20.00% |
| BANKERS COOPERATIVE GROUP, INC.3 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | FLAGSHIP HEALTH SYSTEMS | $652 | $0 | $652 | 2.96% |
| Provider | Services | Address | Compensation |
|---|---|---|---|
| BANKERS COOPERATIVE GROUP, INC. AFFILIATED COMPANY | Custodial (securities); Contract Administrator Service code 13 | 411 NORTH AVENUE EAST CRANFORD, NJ 07016 | $0 |
Benefits declared on the Form 5500 main form (✓ = also has a Schedule A insurance contract; otherwise the benefit is funded out of plan assets or via a Schedule C TPA).
The plan reports several different headcounts depending on which form you read. Each one measures a different slice of the population.
| Active participants | 7,213 | Currently employed and enrolled or eligible. |
| Retired/separated still receiving benefits | 380 | Continuation coverage (COBRA, retiree health). |
| Total participants (= "Plan participants" tile) | 7,593 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Health (medical) | SIERRA HEALTH AND LIFE INSURANCE COMPANY, INC. | 380 | $2.1M |
| Dental(2 contracts, 2 carriers) | DELTA DENTAL OF NEW JERSEY, INC. | 6,500 | $3.2M |
| Vision | VISION SERVICE PLAN | 4,047 | $484K |
| Life insurance | HARTFORD LIFE AND ACCIDENT | 3,145 | $680K |
| Long-term disability | HARTFORD LIFE AND ACCIDENT | 3,145 | $680K |
| Other(4 contracts, 3 carriers) | HARTFORD LIFE AND ACCIDENT | 7,573 | $823K |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 7,573 | — |
Why the numbers differ. Form 5500 line 6 counts employees + retirees + beneficiaries; no dependents. Schedule A persons-covered counts everyone enrolled, including spouses and children, so it usually exceeds line 6 by 30-60% on a working-age workforce. The medical row is normally the broadest single line because it has the highest take-up; dental/vision/life often dip below it. Stop-loss / reinsurance contracts sometimes report the carrier's full underwriting pool rather than this filer's headcount; the row is shown for transparency but shouldn't be read as "people in this plan."
Broker compensation exceeds 5% of premium. Either a small-plan minimum-fee dynamic or an inefficient broker structure ripe for a counter-bid.
Multiple-employer welfare arrangement. Specific regulatory and compliance context; specific consultant niche.