Citizens and Farmers Bank

Toano, VA Finance & insuranceNAICS 522110

Self-funded health planPlan year 2025Renews January
535Participants-14% vs. prior year
$1.3MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#12 of 12Finance & insurance in VABy participants

Overview

Citizens and Farmers Bank sponsors a self-funded health plan that covered 535 participants in plan year 2025, down 14% from the prior year. The plan year starts in January.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
535 · prior year 622
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Citizens and Farmers Bank On-Site Medical Clinic Health Plan, plan 504 (535 participants)
MedicalOther welfare benefits

Pharmacy benefit estimate

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

$1.3M/ year

Estimated prescription spend: 535 participants × $2,371 national average per member. Usually higher once dependents are counted.

$33K–$81K/ year

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

Brands with a generic available$10K–$24K
Lower-cost therapeutic alternatives$14K–$29K
Generic pricing vs. actual cost$6K–$18K
PBM contract terms$3K–$10K
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
Citizens and Farmers Bank
Sponsor EIN
54-0169510
Plan number
504
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 54-0169510 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
SBA Defined Contribution Plan for Citizens and Farmers Bank
Type
401(k) plan
Participants
527

About this data

Source: Citizens and Farmers Bank'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 Citizens and Farmers Bank.

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