Mccarter & English, LLP

Newark, NJ Professional servicesNAICS 541110

Self-funded health planPlan year 2025Renews January
878Participants+8% vs. prior year
$2.1MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#22 of 32Professional services in NJBy participants

Overview

Mccarter & English, LLP sponsors a self-funded health plan that covered 878 participants in plan year 2025, up 8% 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
878 · prior year 817
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Mccarter & English, LLP Health and Welfare Benefit Plan, plan 501 (878 participants)
Broker compensation
$154K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityDeath benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Standard Insurance CompanyLife, Short-term disability, Long-term disability742$1.7M$133K
Aetna Life Insurance Co.Dental1,116$594K$960
The Guardian Life Insurance Company of AmericaAccident, Critical Illness, Cancer124$93K$18K
Vision Service PlanVision492$75K$-1
Colonial Life & Accident Insurance CompanyShort-term disability39$43K$2K

Pharmacy benefit estimate

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

$2.1M/ year

Estimated prescription spend: 878 participants × $2,371 national average per member. Usually higher once dependents are counted.

$54K–$133K/ year

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

Brands with a generic available$16K–$40K
Lower-cost therapeutic alternatives$23K–$48K
Generic pricing vs. actual cost$10K–$30K
PBM contract terms$5K–$16K
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
Mccarter & English, LLP
Sponsor EIN
22-1534652
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 22-1534652 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Mccarter and English Retirement and Savings Plan
Type
401(k) plan
Participants
1,167

About this data

Source: Mccarter & English, LLP'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 Mccarter & English, LLP.

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