| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| RAJEN SHETH3 | 27950 ORCHARD LAKE ROAD, STE 111 FARMINGTON HILLS, MI 48334 | BLUE CROSS BLUE SHIELD OF MICHIGAN | $17K | $69K | $86K | 23.58% |
| APEX FINANCIAL SERVICES3 Filed as: APEX FINANCIAL SERVICES, INC | 27950 ORCHARD LAKE ROAD, STE 111 FARMINGTON HILLS, MI 48334 | UNUM LIFE INSURANCE COMPANY OF AMERICA | $8K | — | $8K | 11.09% |
| APEX FINANCIAL SERVICES3 Filed as: APEX FINANCIAL SERVICES, INC | 27950 ORCHARD LAKE ROAD, STE 111 FARMINGTON HILLS, MI 48334 | UNITED OF OMAHA LIFE INSURANCE COMPANY | $3K | — | $3K | 15.00% |
| APEX FINANCIAL SERVICES3 Filed as: APEX FINANCIAL SERVICES, INC | 27950 ORCHARD LAKE ROAD, STE 111 FARMINGTON HILLS, MI 48334 | UNITED OF OMAHA LIFE INSURANCE COMPANY | $917 | — | $917 | 10.00% |
| APEX FINANCIAL SERVICES3 Filed as: APEX FINANCIAL SERVICES, INC | 27950 ORCHARD LAKE ROAD, STE 111 FARMINGTON HILLS, MI 48334 | UNITED OF OMAHA LIFE INSURANCE COMPANY | $1K | — | $1K | 15.00% |
| APEX FINANCIAL SERVICES3 Filed as: APEX FINANCIAL SERVICES, INC | 27950 ORCHARD LAKE ROAD, STE 111 FARMINGTON HILLS, MI 48334 | UNUM LIFE INSURANCE COMPANY OF AMERICA | $341 | — | $341 | 10.87% |
| APEX FINANCIAL SERVICES3 Filed as: APEX FINANCIAL SERVICES, INC | 27950 ORCHARD LAKE ROAD, STE 111 FARMINGTON HILLS, MI 48334 | UNITED OF OMAHA LIFE INSURANCE COMPANY | $58 | — | $58 | 9.97% |
| Provider | Services | Address | Compensation |
|---|---|---|---|
| BLUE CROSS BLUE SHIELD OF MICHIGAN EIN 38-2069753 TPA | Recordkeeping and information management (computing, tabulating, data processing, etc.); Insurance services; Float revenue; Claims processing; Consulting (general); Contract Administrator; Other fees; Direct payment from the plan Service code 12 | 600 E LAFAYETTE BLVD DETROIT, MI 48226 | $256K |
| RAJEN SHETH | Insurance agents and brokers; Other fees; Insurance brokerage commissions and fees; Non-monetary compensation; Other commissions Service code 22 | 27950 ORCHARD LAKE RD. STE 111 FARMINGTON HILLS, MI 48334 | $85K |
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 | 428 | Currently employed and enrolled or eligible. |
| Total participants (= "Plan participants" tile) | 428 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Life insurance(3 contracts, 2 carriers) | UNUM LIFE INSURANCE COMPANY OF AMERICA | 428 | $87K |
| Short-term disability(3 contracts, 2 carriers) | UNUM LIFE INSURANCE COMPANY OF AMERICA | 428 | $82K |
| Long-term disability(2 contracts, 2 carriers) | UNUM LIFE INSURANCE COMPANY OF AMERICA | 428 | $77K |
| Stop-loss / reinsurancereinsurance | BLUE CROSS BLUE SHIELD OF MICHIGAN | 258 | $366K |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 428 | — |
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.