First National Bank Alaska

Anchorage, AK Finance & insuranceNAICS 522110

Self-funded health planPlan year 2024Renews July
618ParticipantsFirst year on file
$1.5MEst. pharmacy spend / yrParticipants × national avg.
Jul 2027Next renewalPlan year begins July 1
#2 of 2Finance & insurance in AKBy participants

Overview

First National Bank Alaska sponsors a self-funded health plan that covered 618 participants in plan year 2024. The plan year starts in July. 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
618
Plan year
Begins July 1 · next renewal July 2027
Health plans filed
First National Bank Alaska Health and Welfare Plan, plan 502 (618 participants)
Broker compensation
$98K 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
Life Insurance Company of North AmericaLife, Long-term disability618$439K$61K
Provident Life and Accident Insurance CompanyLife, Short-term disability207$92K$21K
Unum Insurance CompanyAccident, Critical Illness, Hospital134$87K$15K
Curalinc LLC, DBA Curalinc HealthcareEmployee Assistance Program618$11K—
Unum Life Insurance Company of AmericaAccident, Critical Illness, Hospital202$8K$845
Zurich American Insurance CompanyBusiness Travel Accident618$1K—

Pharmacy benefit estimate

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

$1.5M/ year

Estimated prescription spend: 618 participants × $2,371 national average per member. Usually higher once dependents are counted.

$38K–$94K/ year

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

Brands with a generic available$11K–$28K
Lower-cost therapeutic alternatives$16K–$34K
Generic pricing vs. actual cost$7K–$21K
PBM contract terms$4K–$11K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning July 2027: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2024
Plan sponsor
First National Bank Alaska
Sponsor EIN
92-0006595
Plan number
502
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 92-0006595 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
First National Bank Alaska Profit Sharing & 401(k) Plan
Type
401(k) plan
Participants
986

About this data

Source: First National Bank Alaska'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 First National Bank Alaska.

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