Lakes Venture LLC, DBA Fresh Thyme Farmers Market

Downers Grove, IL RetailNAICS 445110

Self-funded health planPlan year 2025Renews January
2,082Participants+0% vs. prior year
$4.9MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#6 of 19Retail in ILBy participants

Overview

Lakes Venture LLC, DBA Fresh Thyme Farmers Market sponsors a self-funded health plan that covered 2,082 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
2,082 · prior year 2,074
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Lakes Venture, LLC D/b/a Fresh Thyme Farmers Market Wrap Benefit Plan, plan 502 (2,082 participants)
Broker compensation
$123K 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
Prudential Insurance Company of AmericaLife, Short-term disability, Long-term disability1,935$712K$123K
Magellan HealthEmployee Assistance Program3,669$27K—

Pharmacy benefit estimate

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

$4.9M/ year

Estimated prescription spend: 2,082 participants × $2,371 national average per member. Usually higher once dependents are counted.

$128K–$316K/ year

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

Brands with a generic available$38K–$94K
Lower-cost therapeutic alternatives$55K–$115K
Generic pricing vs. actual cost$24K–$71K
PBM contract terms$12K–$37K
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
Lakes Venture LLC, DBA Fresh Thyme Farmers Market
Sponsor EIN
46-1124457
Plan number
502
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 46-1124457 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Fresh Thyme Market 401(k) Plan
Type
401(k) plan
Participants
29,765

About this data

Source: Lakes Venture LLC, DBA Fresh Thyme Farmers Market'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 Lakes Venture LLC, DBA Fresh Thyme Farmers Market.

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