ABB Concise Optical Group
Overview
ABB Concise Optical Group sponsors a self-funded health plan that covered 1,487 participants in plan year 2024. The plan year starts in June. Alongside medical, its benefits filing reports life insurance, dental, vision, short-term disability, and more.
- Plan type
- ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
- Participants
- 1,487
- Plan year
- Begins June 1 · next renewal June 2027
- Health plans filed
- ABB Concise Employee Benefit Plan, plan 502 (1,487 participants)
- Broker compensation
- $89K 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, Short-term disability, Long-term disability | 1,487 | $619K | $68K |
| The Guardian Life Insurance Company of America | Dental | 736 | $95K | $8K |
| Vision Service Plan | Vision | 787 | $83K | — |
| Unum Insurance Company | Accident, Critical Illness, Hospital | 156 | $59K | $14K |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 1,487 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
- ABB Concise Optical Group
- Sponsor EIN
- 51-0626564
- Plan number
- 502
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 51-0626564 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- ABB Optical Group
- Type
- 401(k) plan
- Participants
- 1,843
About this data
Source: ABB Concise Optical Group'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 ABB Concise Optical Group.