Contec, Inc.

Spartanburg, SC ManufacturingNAICS 339900

Self-funded health planPlan year 2025Renews August
698Participants+5% vs. prior year
$1.7MEst. pharmacy spend / yrParticipants × national avg.
Aug 2027Next renewalPlan year begins August 1
#25 of 33Manufacturing in SCBy participants

Overview

Contec, Inc. sponsors a self-funded health plan that covered 698 participants in plan year 2025, up 5% from the prior year. The plan year starts in August. Alongside medical, its benefits filing reports life insurance, vision, short-term disability, long-term disability, and more.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
698 · prior year 668
Plan year
Begins August 1 · next renewal August 2027
Health plans filed
Contec, Inc. Employee Benefits Plan, plan 501 (698 participants)
Broker compensation
$29K across insured contracts
MedicalLife insuranceVisionShort-term disabilityLong-term disabilityDeath benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
United of Omaha Life Insurance CompanyVision, Life, Long-term disability668$167K$20K
Reliastar Insurance CompanyAccident, Critical Illness336$33K$9K

Pharmacy benefit estimate

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

$1.7M/ year

Estimated prescription spend: 698 participants × $2,371 national average per member. Usually higher once dependents are counted.

$43K–$106K/ year

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

Brands with a generic available$13K–$31K
Lower-cost therapeutic alternatives$18K–$38K
Generic pricing vs. actual cost$8K–$24K
PBM contract terms$4K–$12K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning August 2027: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2025
Plan sponsor
Contec, Inc.
Sponsor EIN
57-0877605
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 57-0877605 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Contec, Inc. 401(k) Profit Sharing Plan
Type
401(k) plan
Participants
830

About this data

Source: Contec, Inc.'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 Contec, Inc..

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