Memorial Health System

Springfield, IL Health careNAICS 622000

Self-funded health planPlan year 2025Renews January
7,561Participants+7% vs. prior year
$17.9MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#8 of 65Health care in ILBy participants

Overview

Memorial Health System sponsors a self-funded health plan that covered 7,561 participants in plan year 2025, up 7% from the prior year. The plan year starts in January. Alongside medical, its benefits filing reports life insurance, dental, vision, long-term disability.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
7,561 · prior year 7,054
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Memorial Health System Consolidated Welfare Benefits Plan, plan 501 (7,561 participants)
Broker compensation
$1.2M across insured contracts
MedicalLife insuranceDentalVisionLong-term disabilityOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Metropolitan Life Insurance CompanyLife, Long-term disability13,266$3.6M$471K
Hartford Life and AccidentShort-term disability9,957$2.0M$567K
Reliastar Life InsuranceLife2,627$1.1M$171K
Eyemed Vision CareVision10,743$544K—
Eyemed Vision Care CobraVision104$5K—

Pharmacy benefit estimate

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

$17.9M/ year

Estimated prescription spend: 7,561 participants × $2,371 national average per member. Usually higher once dependents are counted.

$466K–$1.1M/ year

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

Brands with a generic available$136K–$341K
Lower-cost therapeutic alternatives$199K–$416K
Generic pricing vs. actual cost$86K–$258K
PBM contract terms$45K–$134K
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
Memorial Health System
Sponsor EIN
37-1110690
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 37-1110690 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Memorial Health System Defined Contribution Retirement Savings Plan
Type
401(k) plan
Participants
11,172

About this data

Source: Memorial Health System'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 Memorial Health System.

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