Baker & Mckenzie LLP

Chicago, IL Professional servicesNAICS 541110

Self-funded health planPlan year 2024Renews July
1,327ParticipantsFirst year on file
$3.1MEst. pharmacy spend / yrParticipants × national avg.
Jul 2027Next renewalPlan year begins July 1
#22 of 44Professional services in ILBy participants

Overview

Baker & Mckenzie LLP sponsors a self-funded health plan that covered 1,327 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
1,327
Plan year
Begins July 1 · next renewal July 2027
Health plans filed
Baker & Mckenzie LLP Baker Benefits Plan, plan 508 (1,327 participants)
Broker compensation
$116K 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
Unum Life Insurance Company of AmericaLife, Long Term Care, Long-term disability5,069$7.2M$116K
Vision Service PlanVision1,327$197K—
Aetna Life Insurance CompanyDental120$52K—
Life Insurance Company of North AmericaBusiness Travel Accident4,921$5K$157

Pharmacy benefit estimate

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

$3.1M/ year

Estimated prescription spend: 1,327 participants × $2,371 national average per member. Usually higher once dependents are counted.

$82K–$202K/ year

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

Brands with a generic available$24K–$60K
Lower-cost therapeutic alternatives$35K–$73K
Generic pricing vs. actual cost$15K–$45K
PBM contract terms$8K–$24K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning July 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
Baker & Mckenzie LLP
Sponsor EIN
36-2137456
Plan number
508
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 36-2137456 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Baker & Mckenzie Illinois Profit Sharing and 401k Plan
Type
401(k) plan
Participants
2,294

About this data

Source: Baker & Mckenzie LLP'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 Baker & Mckenzie LLP.

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