Franklin Electric Co., Inc.
Overview
Franklin Electric Co., Inc. sponsors a self-funded health plan that covered 2,331 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
- 2,331 · prior year 2,369
- Plan year
- Begins January 1 · next renewal January 2027
- Health plans filed
- Franklin Electric Co., Inc. Employee Welfare Benefits Plan, plan 501 (2,331 participants)
- Stop-loss carrier
- Cigna Health and Life Insurance Company and Affiliates
- Broker compensation
- $325K across insured contracts
Insurance carriers
Insured coverage reported on Schedule A. Self-funded medical claims aren't reported there.
| Carrier | Coverage | Covered | Premium | Broker comp |
|---|---|---|---|---|
| Cigna Health and Life Insurance Company and Affiliates | Vision, Stop-loss | 3,359 | $2.1M | — |
| Reliastar Life Insurance Company | Life, Short-term disability, Long-term disability, Employee Assistance Program | 3,201 | $1.4M | $273K |
| Cigna Health and Life Insurance Company | Accident, Critical Illness, Hospital | 2,241 | $219K | $47K |
| Federal Insurance Company | Business Travel Accident | 2,241 | $20K | $5K |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 2,331 participants × $2,371 national average per member. Usually higher once dependents are counted.
Typical savings opportunity found in independent reviews of plans this size.
Form 5500 filing details
- Filing
- Form 5500 with Schedule A, plan year 2025
- Plan sponsor
- Franklin Electric Co., Inc.
- Sponsor EIN
- 35-0827455
- Plan number
- 501
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 35-0827455 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- Franklin Electric Co., Inc. Retirement Program
- Type
- 401(k) plan
- Participants
- 2,380
About this data
Source: Franklin Electric Co., 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 Franklin Electric Co., Inc..