Independent Bank
Overview
Independent Bank sponsors a self-funded health plan that covered 1,523 participants in plan year 2024. 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
- 1,523
- Plan year
- Begins January 1 · next renewal January 2027
- Health plans filed
- Independent Bank Welfare Benefit Plan, plan 501 (1,523 participants)
- Broker compensation
- $127K 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 | Dental | 1,149 | $1.1M | — |
| Hartford Life and Accident | Life, Long-term disability | 1,407 | $1.0M | $53K |
| Metropolitan Life Insurance Company | Vision | 2,015 | $403K | $75K |
| Health Advocate Solutions, Inc. | Employee Assistance Program | 1,471 | $28K | — |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 1,523 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 2024
- Plan sponsor
- Independent Bank
- Sponsor EIN
- 75-2694563
- Plan number
- 501
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 75-2694563 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- Independent Financial 401(k) Profit Sharing Plan
- Type
- 401(k) plan
- Participants
- 1,786
About this data
Source: Independent Bank'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 Independent Bank.