Cleveland-Cliffs Steel LLC

Chicago, IL ManufacturingNAICS 331110

Self-funded health planPlan year 2025Renews JanuaryCollectively bargained
27,605Participants-8% vs. prior year
$65.5MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#2 of 122Manufacturing in ILBy participants

Overview

Cleveland-Cliffs Steel LLC sponsors a self-funded health plan that covered 27,605 participants in plan year 2025, down 8% from the prior year. The plan year starts in January. Alongside medical, its benefits filing reports life insurance.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
27,605 · prior year 30,075
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Cleveland-Cliffs Steel LLC Veba Retiree Benefits Plan, plan 515 (27,605 participants)
MedicalLife insurance

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Anthem Blue Cross Blue ShieldPPO3,611$6.7M—
Prudential Insurance Company of AmericaLife1,022$803K—

Pharmacy benefit estimate

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

$65.5M/ year

Estimated prescription spend: 27,605 participants × $2,371 national average per member. Usually higher once dependents are counted.

$1.7M–$4.2M/ year

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

Brands with a generic available$497K–$1.2M
Lower-cost therapeutic alternatives$727K–$1.5M
Generic pricing vs. actual cost$314K–$943K
PBM contract terms$164K–$491K
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
Cleveland-Cliffs Steel LLC
Sponsor EIN
71-0871875
Plan number
515
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 71-0871875 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Cleveland-Cliffs Steel LLC Hourly 401(k) Plan
Type
401(k) plan
Participants
15,095

About this data

Source: Cleveland-Cliffs Steel LLC'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 Cleveland-Cliffs Steel LLC.

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