First Interstate Bancsystem, Inc.

Billings, MT Holding companiesNAICS 551111

Self-funded health planPlan year 2025Renews January
2,945Participants-9% vs. prior year
$7.0MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#1 of 2Holding companies in MTBy participants

Overview

First Interstate Bancsystem, Inc. sponsors a self-funded health plan that covered 2,945 participants in plan year 2025, down 9% from the prior year. The plan year starts in January. Alongside medical, its benefits filing reports life insurance, dental, vision, death benefits.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
2,945 · prior year 3,230
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
First Interstate Bancsystem Inc. Group Health Benefit Plan, plan 501 (2,945 participants)
Broker compensation
$251K across insured contracts
MedicalLife insuranceDentalVisionDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Prudential Insurance Company of AmericaAccident, Basic AD&D, Critical Illness, Life, Hospital Indemnity, Voluntary AD&D2,802$1.5M$251K
Vision Service PlanVision2,461$510K—

Pharmacy benefit estimate

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

$7.0M/ year

Estimated prescription spend: 2,945 participants × $2,371 national average per member. Usually higher once dependents are counted.

$182K–$448K/ year

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

Brands with a generic available$53K–$133K
Lower-cost therapeutic alternatives$78K–$162K
Generic pricing vs. actual cost$34K–$101K
PBM contract terms$17K–$52K
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
First Interstate Bancsystem, Inc.
Sponsor EIN
81-0331430
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 81-0331430 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
First Interstate Bancsystem, Inc. 401(k) Plan
Type
401(k) plan
Participants
4,990

About this data

Source: First Interstate Bancsystem, 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 First Interstate Bancsystem, Inc..

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