La-Z-Boy Incorporated

Monroe, MI ManufacturingNAICS 337000

Self-funded health planPlan year 2025Renews January
5,237Participants-7% vs. prior year
$12.4MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#13 of 138Manufacturing in MIBy participants

Overview

La-Z-Boy Incorporated sponsors a self-funded health plan that covered 5,237 participants in plan year 2025, down 7% from 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
5,237 · prior year 5,613
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
La-Z-Boy Incorporated Health and Welfare Benefit Plan, plan 501 (5,237 participants)
Broker compensation
$404K 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
Unum Life Insurance Company of AmericaLife, Long-term disability5,243$2.2M$189K
Blue Cross Blue Shield of MichiganVision6,223$246K$214K
ComPsychEmployee Assistance Program5,312$45K—
LyraEmployee Assistance Program5,237$34K—
Berkeley Life and Health Insurance CompanyBusiness Travel Accident5,237$6K$1K

Pharmacy benefit estimate

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

$12.4M/ year

Estimated prescription spend: 5,237 participants × $2,371 national average per member. Usually higher once dependents are counted.

$323K–$796K/ year

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

Brands with a generic available$94K–$236K
Lower-cost therapeutic alternatives$138K–$288K
Generic pricing vs. actual cost$60K–$179K
PBM contract terms$31K–$93K
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
La-Z-Boy Incorporated
Sponsor EIN
38-0751137
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 38-0751137 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
La-Z-Boy Incorporated Retirement Savings Plan
Type
401(k) plan
Participants
10,405

About this data

Source: La-Z-Boy 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 La-Z-Boy Incorporated.

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