Caravan Facilities Management, LLC

Saginaw, MI Business servicesNAICS 561210

Self-funded health planPlan year 2024Renews April
1,156ParticipantsFirst year on file
$2.7MEst. pharmacy spend / yrParticipants × national avg.
Apr 2027Next renewalPlan year begins April 1
#2 of 7Business services in MIBy participants

Overview

Caravan Facilities Management, LLC sponsors a self-funded health plan that covered 1,156 participants in plan year 2024. The plan year starts in April. 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
1,156
Plan year
Begins April 1 · next renewal April 2027
Health plans filed
Caravan Facilities Management, LLC Employee Benefits Plan, plan 501 (1,156 participants)
Broker compensation
$76K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Principal Life Insurance CompanyLife, Short-term disability, Long-term disability1,092$738K$76K

Pharmacy benefit estimate

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

$2.7M/ year

Estimated prescription spend: 1,156 participants × $2,371 national average per member. Usually higher once dependents are counted.

$71K–$176K/ year

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

Brands with a generic available$21K–$52K
Lower-cost therapeutic alternatives$30K–$64K
Generic pricing vs. actual cost$13K–$39K
PBM contract terms$7K–$21K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning April 2028: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2024
Plan sponsor
Caravan Facilities Management, LLC
Sponsor EIN
38-3376680
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 38-3376680 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Caravan Facilities Management NON Union 401(k) Plan
Type
401(k) plan
Participants
754

About this data

Source: Caravan Facilities Management, LLC'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 Caravan Facilities Management, LLC.

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