Colonialwebb Contractors Company, Inc.

Richmond, VA ConstructionNAICS 238210

Self-funded health planPlan year 2024Renews May
1,277ParticipantsFirst year on file
$3.0MEst. pharmacy spend / yrParticipants × national avg.
May 2027Next renewalPlan year begins May 1
#8 of 17Construction in VABy participants

Overview

Colonialwebb Contractors Company, Inc. sponsors a self-funded health plan that covered 1,277 participants in plan year 2024. The plan year starts in May. 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
1,277
Plan year
Begins May 1 · next renewal May 2027
Health plans filed
The Colonialwebb Contractors Co. Health and Welfare Benefits Plan, plan 501 (1,277 participants)
Broker compensation
$2K 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
United of Omaha Life Insurance CompanyShort-term disability486$253K—
Hartford Life and AccidentLong-term disability340$142K$2K
Metropolitan Life Insurance CompanyLife1,580$116K$39
Anthem Health Plans of Virginia DBA Anthem BcbsVision1,393$42K—

Pharmacy benefit estimate

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

$3.0M/ year

Estimated prescription spend: 1,277 participants × $2,371 national average per member. Usually higher once dependents are counted.

$79K–$194K/ year

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

Brands with a generic available$23K–$58K
Lower-cost therapeutic alternatives$34K–$70K
Generic pricing vs. actual cost$15K–$44K
PBM contract terms$8K–$23K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning May 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
Colonialwebb Contractors Company, Inc.
Sponsor EIN
54-0905215
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 54-0905215 in the Department of Labor's EFAST2 Form 5500 search.

About this data

Source: Colonialwebb Contractors Company, Inc.'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 Colonialwebb Contractors Company, Inc..

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