Huntington Bancshares Incorporated

Columbus, OH Finance & insuranceNAICS 522110

Self-funded health planPlan year 2025Renews January
20,471Participants+1% vs. prior year
$48.5MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#2 of 22Finance & insurance in OHBy participants

Overview

Huntington Bancshares Incorporated sponsors a self-funded health plan that covered 20,471 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
20,471 · prior year 20,342
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Huntington Bancshares Incorporated Group Health and Welfare Plan, plan 501 (20,471 participants)
Stop-loss carrier
Medical Mutual of Ohio
Broker compensation
$548K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilitySeveranceDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Sun Life Assurance Company of CanadaAccident Insurance, Hospital Indemnity, , Life21,315$12.5M$544K
Vision Service PlanVision14,158$3.5M—
Lincoln National Life Insurance CompanyLong-term disability20,502$3.1M—
Medical Mutual of OhioStop-loss1,262$635K$3K
Anthem Blue Cross Blue ShieldMedical, Prescription drug104$187K—
Hartford Fire Insurance CompanyBusiness Travel Accident20,505—$840

Pharmacy benefit estimate

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

$48.5M/ year

Estimated prescription spend: 20,471 participants × $2,371 national average per member. Usually higher once dependents are counted.

$1.3M–$3.1M/ year

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

Brands with a generic available$369K–$922K
Lower-cost therapeutic alternatives$539K–$1.1M
Generic pricing vs. actual cost$233K–$699K
PBM contract terms$121K–$364K
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
Huntington Bancshares Incorporated
Sponsor EIN
31-0724920
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 31-0724920 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
The Huntington 401(k) Plan
Type
401(k) plan
Participants
26,640

About this data

Source: Huntington Bancshares Incorporated'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 Huntington Bancshares Incorporated.

Request a correction · Methodology