1st Franklin Financial Corporation
Overview
1st Franklin Financial Corporation sponsors a self-funded health plan that covered 1,612 participants in plan year 2024. The plan year starts in July. Alongside medical, its benefits filing reports life insurance, dental, vision, long-term disability, and more.
- Plan type
- ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
- Participants
- 1,612
- Plan year
- Begins July 1 · next renewal July 2027
- Health plans filed
- 1st Franklin Financial Corporation Master Welfare Benefit Plan, plan 501 (1,612 participants)
- Broker compensation
- $153K across insured contracts
Insurance carriers
Insured coverage reported on Schedule A. Self-funded medical claims aren't reported there.
| Carrier | Coverage | Covered | Premium | Broker comp |
|---|---|---|---|---|
| Unum Life Insurance Company of America | Life, Long-term disability | 1,612 | $512K | $64K |
| American Heritage Life Insurance Company | Accident, Cancer | 570 | $329K | $80K |
| Blue Cross Blue Shield Healthcare Plan of Georgia, Inc. | Vision | 2,223 | $128K | $8K |
| Telus Health (US) Ltd. | Employee Assistance Program | 1,612 | $25K | — |
| Zurich American Insurance Company | Business Travel Accident | 1,481 | $4K | $530 |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 1,612 participants × $2,371 national average per member. Usually higher once dependents are counted.
Typical savings opportunity found in independent reviews of plans this size.
Form 5500 filing details
- Filing
- Form 5500 with Schedule A, plan year 2024
- Plan sponsor
- 1st Franklin Financial Corporation
- Sponsor EIN
- 58-0521233
- Plan number
- 501
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 58-0521233 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- 1st Franklin Financial 401(k) Retirement Plan
- Type
- 401(k) plan
- Participants
- 1,954
About this data
Source: 1st Franklin Financial Corporation's Form 5500 filing for plan year 2024 and its Schedule A insurance reports, published by the U.S. Department of Labor. "Self-funded" means the filing reports benefits paid from employer assets or a trust, with no medical insurance contract or with a stop-loss contract. Pharmacy figures are StreamRX estimates based on national averages. StreamRX is not affiliated with 1st Franklin Financial Corporation.