Matheny Medical & Educational Center

Peapack, NJ EducationNAICS 611000

Self-funded health planPlan year 2024Renews June
644ParticipantsFirst year on file
$1.5MEst. pharmacy spend / yrParticipants × national avg.
Jun 2027Next renewalPlan year begins June 1
#5 of 6Education in NJBy participants

Overview

Matheny Medical & Educational Center sponsors a self-funded health plan that covered 644 participants in plan year 2024. The plan year starts in June. Alongside medical, its benefits filing reports life insurance, dental, vision, long-term disability, and more.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
644
Plan year
Begins June 1 · next renewal June 2027
Health plans filed
Matheny School and Hospital, Inc. Health & Welfare Plan, plan 501 (644 participants)
Stop-loss carrier
Berkshire Hathaway Specialty Insurance Company; Aetna Life Insurance Company
Broker compensation
$75K across insured contracts
MedicalLife insuranceDentalVisionLong-term disabilityDeath benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Berkshire Hathaway Specialty Insurance CompanyStop-loss338$929K—
Delta Dental of New Jersey Inc.Dental644$259K—
Aetna Life Insurance CompanyStop-loss338$53K—
Delta Dental of Connecticut, Inc.Vision493$28K—
Quantum Health SolutionsEmployee Asssitance Program476—$15K

Pharmacy benefit estimate

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

$1.5M/ year

Estimated prescription spend: 644 participants × $2,371 national average per member. Usually higher once dependents are counted.

$40K–$98K/ year

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

Brands with a generic available$12K–$29K
Lower-cost therapeutic alternatives$17K–$35K
Generic pricing vs. actual cost$7K–$22K
PBM contract terms$4K–$11K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning June 2028: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2024
Plan sponsor
Matheny Medical & Educational Center
Sponsor EIN
22-1482276
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 22-1482276 in the Department of Labor's EFAST2 Form 5500 search.

About this data

Source: Matheny Medical & Educational Center'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 Matheny Medical & Educational Center.

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