Faegre Drinker Biddle & Reath

Minneapolis, MN Professional servicesNAICS 541110

Self-funded health planPlan year 2025Renews January
2,169Participants+1% vs. prior year
$5.1MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#4 of 27Professional services in MNBy participants

Overview

Faegre Drinker Biddle & Reath sponsors a self-funded health plan that covered 2,169 participants in plan year 2025, about the same as the prior year. The plan year starts in January. 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
2,169 · prior year 2,142
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Faegre Drinker Biddle & Reath Welfare Benefit Plan, plan 501 (2,169 participants)
Broker compensation
$345K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Unum Life Insurance Company of AmericaLife, Long-term disability2,079$4.5M$288K
Delta Dental of IndianaDental3,233$1.4M$28K
Eyemed Vision Care on Behalf of Fidelity Security Life Insurance Co.Vision2,756$219K—
Allone HealthEmployee Assistance Program2,190$57K—
National Union Fire Ins. Co. of Pittsburgh, PABusiness Travel Accident2,027——

Pharmacy benefit estimate

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

$5.1M/ year

Estimated prescription spend: 2,169 participants × $2,371 national average per member. Usually higher once dependents are counted.

$134K–$330K/ year

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

Brands with a generic available$39K–$98K
Lower-cost therapeutic alternatives$57K–$119K
Generic pricing vs. actual cost$25K–$74K
PBM contract terms$13K–$39K
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
Faegre Drinker Biddle & Reath
Sponsor EIN
41-0244008
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 41-0244008 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Faegre Drinker Retirement Savings Plan 1
Type
401(k) plan
Participants
1,966

About this data

Source: Faegre Drinker Biddle & Reath'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 Faegre Drinker Biddle & Reath.

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