Benedictine

Minneapolis, MN Health careNAICS 622000

Self-funded health planPlan year 2024Renews July
2,587ParticipantsFirst year on file
$6.1MEst. pharmacy spend / yrParticipants × national avg.
Jul 2027Next renewalPlan year begins July 1
#16 of 50Health care in MNBy participants

Overview

Benedictine sponsors a self-funded health plan that covered 2,587 participants in plan year 2024. The plan year starts in July. 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
2,587
Plan year
Begins July 1 · next renewal July 2027
Health plans filed
Benedictine Welfare Benefits Plan, plan 505 (2,587 participants)
Broker compensation
$27K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Eyemed Vision Care on Behalf of Fidelity Security Life Insurance Co.Vision2,079$153K$12K

Pharmacy benefit estimate

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

$6.1M/ year

Estimated prescription spend: 2,587 participants × $2,371 national average per member. Usually higher once dependents are counted.

$159K–$393K/ year

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

Brands with a generic available$47K–$117K
Lower-cost therapeutic alternatives$68K–$142K
Generic pricing vs. actual cost$29K–$88K
PBM contract terms$15K–$46K
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
Benedictine
Sponsor EIN
41-1531892
Plan number
505
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 41-1531892 in the Department of Labor's EFAST2 Form 5500 search.

About this data

Source: Benedictine'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 Benedictine.

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