MCMURRAY, Pa.–(BUSINESS WIRE)–Mark Farrah Associates (MFA), www.markfarrah.com, presents a high-level overview of health benefit insights gleaned from MFA’s 5500 Employer Health Plus product. Large private-sector employers providing health and welfare benefit plans subject to ERISA are required to file the annual Form 5500 with the Internal Revenue Service. Form 5500 is a primary source of employer information about health and welfare benefits as well as pension plans. Observations obtained from 5500 Employer Health Plus are based on 80,438 employers that indicated they had active health benefit contracts as of their most recent filings.
- Private-sector employers reported 86.9 million potential plan participants across the spectrum of all health benefit contracts.
- Amazon.com Services, Inc. reported the highest number of welfare plan participants, over 2.9 million.
- Slightly under half of all benefit funding arrangements (43%) that included health benefits were fully-insured plans.
- Brokers and agents received nearly $3 billion in total fees and commissions for assisting with sales of various health and welfare benefit products inclusive of health, HMO and PPO contracts.
About 5500 Employer Health Plus
MFA’s 5500 Employer Health Plus has been designed to simplify the analysis of employer health & welfare benefits including medical, dental, vision, disability and other benefits. This tool uniquely focuses on health & ancillary benefits purchased…
