Calvin University

Grand Rapids, MI EducationNAICS 611000

Self-funded health planPlan year 2024Renews July
662ParticipantsFirst year on file
$1.6MEst. pharmacy spend / yrParticipants × national avg.
Jul 2027Next renewalPlan year begins July 1
#5 of 7Education in MIBy participants

Overview

Calvin University sponsors a self-funded health plan that covered 662 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
662
Plan year
Begins July 1 · next renewal July 2027
Health plans filed
Calvin University Welfare Benefit Plan, plan 501 (662 participants)
Broker compensation
$64K 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
Delta Dental of MichiganDental1,576$653K$12K
Unum Life Insurance Company of AmericaLife, Long-term disability673$304K$52K
Eyemed Vision Care on Behalf of Fidelity Security Life Insurance Co.Vision1,002$70K—
Pine RestEmployee Assistance Program650$13K—

Pharmacy benefit estimate

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

$1.6M/ year

Estimated prescription spend: 662 participants × $2,371 national average per member. Usually higher once dependents are counted.

$41K–$101K/ year

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

Brands with a generic available$12K–$30K
Lower-cost therapeutic alternatives$17K–$36K
Generic pricing vs. actual cost$8K–$23K
PBM contract terms$4K–$12K
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
Calvin University
Sponsor EIN
38-3071514
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 38-3071514 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Calvin University 403(b) Retirement Plan
Type
Defined contribution plan
Participants
2,027

About this data

Source: Calvin University'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 Calvin University.

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