| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| FELKNOR, MATTHEW3 | 9333 CEDAR CIRCLE BLOOMINGTON, MN 55425 | DDMN ASO, LLC | $2K | $0 | $2K | 155.38% |
| MATTHEW C FELKNOR3 Filed as: MATTHEW CHARLES FELKNOR | 9333 CEDAR CIRCLE BLOOMINGTON, MN 55425 | HEALTHPARTNERS INSURANCE COMPANY | — | $39K | $39K | — |
| MATTHEW C FELKNOR3 | FELKNOR FINANCIAL GROUP 9333 CEDAR CIRCLE BLOOMINGTON, MN 554252429 | PRINCIPLE LIFE INSURANCE COMPANY | $8K | — | $8K | — |
| Provider | Services | Address | Compensation |
|---|---|---|---|
| MERRILL LYNCH, PIERCE, FENNER AND S EIN 13-5674085 RECORDKEEPER | Investment management fees paid indirectly by plan; Shareholder servicing fees; Float revenue; Other investment fees and expenses; Distribution (12b-1) fees; Sub-transfer agency fees; Recordkeeping and information management (computing, tabulating, data processing, etc.) Service code 15 | — | $28K |
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 | 173 | Currently employed and enrolled or eligible. |
| Retired/separated still receiving benefits | 3 | Continuation coverage (COBRA, retiree health). |
| Retired/separated still eligible | 10 | Vested but not currently using benefits. |
| Beneficiaries receiving benefits | 2 | Spouses or dependents with eligibility independent of the participant. |
| Total participants (= "Plan participants" tile) | 188 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Health (medical) | HEALTHPARTNERS INSURANCE COMPANY | 272 | $0 |
| Dental | DDMN ASO, LLC | 300 | $1K |
| Life insurance | PRINCIPLE LIFE INSURANCE COMPANY | 267 | $0 |
| Long-term disability | PRINCIPLE LIFE INSURANCE COMPANY | 267 | $0 |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 300 | — |
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.
Top carrier holds >85% of premium. If that carrier hits a rate increase, the entire plan moves.