Alerislife Inc.

Newton, MA Health careNAICS 623000

Self-funded health planPlan year 2024Renews October
6,060ParticipantsFirst year on file
$14.4MEst. pharmacy spend / yrParticipants × national avg.
Oct 2027Next renewalPlan year begins October 1
#8 of 40Health care in MABy participants

Overview

Alerislife Inc. sponsors a self-funded health plan that covered 6,060 participants in plan year 2024. The plan year starts in October. 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
6,060
Plan year
Begins October 1 · next renewal October 2027
Health plans filed
Alerislife Inc. Benefits Plan, plan 501 (6,060 participants)
Broker compensation
$58K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityDeath benefits

Insurance carriers

Insured coverage reported on Schedule A. Self-funded medical claims aren't reported there.

CarrierCoverageCoveredPremiumBroker comp
Metropolitan Life Insurance CompanyDental5,895$1.8M$53K
Life Insurance Company of North AmericaLife, Short-term disability, Long-term disability5,879$980K$5K
Vision Service PlanVision3,137$369K—

Pharmacy benefit estimate

StreamRX estimate for a plan this size. Not based on this plan's claims.

$14.4M/ year

Estimated prescription spend: 6,060 participants × $2,371 national average per member. Usually higher once dependents are counted.

$374K–$921K/ year

Typical savings opportunity found in independent reviews of plans this size.

Brands with a generic available$109K–$273K
Lower-cost therapeutic alternatives$159K–$333K
Generic pricing vs. actual cost$69K–$207K
PBM contract terms$36K–$108K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning October 2027: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2024
Plan sponsor
Alerislife Inc.
Sponsor EIN
04-3516029
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 04-3516029 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
The Alerislife Retirement Plan
Type
401(k) plan
Participants
12,163

About this data

Source: Alerislife Inc.'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 Alerislife Inc..

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