| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| MERCER HEALTH AND BENEFITS, LLC3 Filed as: MERCER HEALTH & BENEFITS LLC | 4565 PAYSPHERE CIRCLE CHICAGO, IL 60674 | SECURIAN LIFE INSURANCE COMPANY | $556K | $139K | $694K | 11.29% |
| BAKER BENEFITS GROUP Filed as: THE BAKER BENEFITS GROUP | 54 DANBURY ROAD #340 RIDGEFIELD, CT 06877 | JOHN HANCOCK | $12.7M | — | $12.7M | 1087.15% |
| MERCER HEALTH AND BENEFITS, LLC3 Filed as: MERCER HEALTH & BENEFITS LLC | 4565 PAYSPHERE CIRCLE CHICAGO, IL 60674 | SECURIAN LIFE INSURANCE COMPANY | $67K | $17K | $84K | 11.25% |
| INSMED INS AGENCY INC Filed as: INSMED INSURANCE AGENCY | 500 MAMARONECK AVE STE 408 HARRISON, NY 10528 | GUARDIAN LIFE INSURANCE COMPANY | $6K | — | $6K | 7.00% |
| INTERNATIONAL PLANNING ALLIANCE | ONE CRAIGWOOD ROAD SOUTH PLAINFIELD, NJ 07080 | GUARDIAN LIFE INSURANCE COMPANY | $129 | — | $129 | 0.14% |
No Schedule C service providers reported on this filing.
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 | 45,682 | Currently employed and enrolled or eligible. |
| Total participants (= "Plan participants" tile) | 45,682 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Health (medical) | INDEPENDENCE BLUE CROSS | 45,682 | $164.0M |
| Dental(2 contracts, 2 carriers) | PENN DENTAL | 60,975 | $2.4M |
| Vision | VISION SERVICE PLAN | 29,556 | $4.4M |
| Life insurance | SECURIAN LIFE INSURANCE COMPANY | 38,941 | $6.2M |
| Long-term disability | GUARDIAN LIFE INSURANCE COMPANY | 1,605 | $92K |
| Prescription drug | SOUTHERN SCRIPTS | 20,092 | $0 |
| Other(3 contracts, 3 carriers) | JOHN HANCOCK | 22,055 | $1.9M |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 60,975 | — |
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."
Primary broker changed. Recently changed advisors; vulnerable to a second-look pitch or hostile takeover.
Broker compensation exceeds 5% of premium. Either a small-plan minimum-fee dynamic or an inefficient broker structure ripe for a counter-bid.
Top carrier holds >85% of premium. If that carrier hits a rate increase, the entire plan moves.
Premium per covered life exceeds 2× the peer median for this NAICS + size cohort. Either richly-funded plan or struggling with a bad rate.