Badger Meter, Inc.

Milwaukee, WI ManufacturingNAICS 334500

Self-funded health planPlan year 2025Renews January
1,034Participants+21% vs. prior year
$2.5MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#48 of 95Manufacturing in WIBy participants

Overview

Badger Meter, Inc. sponsors a self-funded health plan that covered 1,034 participants in plan year 2025, up 21% from the prior year. The plan year starts in January. 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
1,034 · prior year 858
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Badger Meter Health and Welfare Wrap Plan, plan 511 (1,034 participants); Badger Meter, Inc. Flexible Benefits Plan, plan 507 (128 participants)
Stop-loss carrier
QBE Insurance Corporation
Broker compensation
$140K across insured contracts
MedicalLife insuranceDentalVisionLong-term disabilityDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
QBE Insurance CorporationStop-loss745$885K$44K
Sierra Health and Life Insurance Company, Inc.Medical193$544K$25K
Reliance Standard Life Insurance CompanyLife, Long-term disability930$525K$34K
Reliastar Life Insurance CompanyAccident, Critical Illness844$144K$29K
HeadspaceEmployee Assistance Plan2,496$105K—
Wyssta Insurance Company Inc.Vision626$95K$8K

Pharmacy benefit estimate

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

$2.5M/ year

Estimated prescription spend: 1,034 participants × $2,371 national average per member. Usually higher once dependents are counted.

$64K–$157K/ year

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

Brands with a generic available$19K–$47K
Lower-cost therapeutic alternatives$27K–$57K
Generic pricing vs. actual cost$12K–$35K
PBM contract terms$6K–$18K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning January 2028: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2025
Plan sponsor
Badger Meter, Inc.
Sponsor EIN
39-0143280
Plan numbers
511, 507
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 39-0143280 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Badger Meter Employee Savings and Stock Ownership Plan
Type
401(k) plan
Participants
1,401

About this data

Source: Badger Meter, Inc.'s Form 5500 filing for plan year 2025 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 Badger Meter, Inc..

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