| Broker | Address | Carrier | Commissions | Fees | Total comp | % of premium |
|---|---|---|---|---|---|---|
| GBS BENEFITS INC3 | 465 SOUTH 400 EAST STE 300 SALT LAKE CITY, UT 84111 | PRINCIPAL LIFE INSURANCE COMPANY | $26K | $3K | $29K | 14.81% |
| LEAVITT GROUP3 Filed as: LEAVITT GROUP AGENCY ASSOC LLC | 216 S 200 W CEDAR CITY, UT 84720 | PRINCIPAL LIFE INSURANCE COMPANY | — | $2K | $2K | 1.00% |
| Provider | Services | Address | Compensation |
|---|---|---|---|
| GBS BENEFITS, INC. EIN 87-0680571 BROKER | Insurance agents and brokers Service code 22 | — | $92K |
| MBA BENEFIT ADMINISTRATORS, INC EIN 87-0667194 THIRD PARTY ADMINISTRATOR | Claims processing Service code 12 | — | $89K |
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 | 225 | Currently employed and enrolled or eligible. |
| Total participants (= "Plan participants" tile) | 225 | Active + retired/separated + beneficiaries. No dependents. |
| Coverage | Top carrier | Persons covered EOY | Premium |
|---|---|---|---|
| Vision | PRINCIPAL LIFE INSURANCE COMPANY | 379 | $197K |
| Life insurance | PRINCIPAL LIFE INSURANCE COMPANY | 379 | $197K |
| Short-term disability | PRINCIPAL LIFE INSURANCE COMPANY | 379 | $197K |
| Stop-loss / reinsurancereinsurance | US FIRE INSURANCE COMPANY | 0 | $0 |
| Other(2 contracts, 2 carriers) | PRINCIPAL LIFE INSURANCE COMPANY | 441 | $209K |
| Persons covered (= "Persons covered" tile) | Max across the rows above | 441 | — |
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."
The primary carrier changed from prior filing. The plan is already willing to move; opportunity to re-pitch on the next cycle.
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.