MG Oil Company
Overview
MG Oil Company sponsors a self-funded health plan that covered 650 participants in plan year 2025, up 54% 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
- 650 · prior year 423
- Plan year
- Begins January 1 · next renewal January 2027
- Health plans filed
- MG Oil Welfare Benefit Plan, plan 501 (650 participants)
- Stop-loss carrier
- Wellmark Blue Cross and Blue Shield of South Dakota
- Broker compensation
- $121K across insured contracts
Insurance carriers
Insured coverage reported on Schedule A. Self-funded medical claims aren't reported there.
| Carrier | Coverage | Covered | Premium | Broker comp |
|---|---|---|---|---|
| Wellmark Blue Cross and Blue Shield of South Dakota | Medical, Stop-loss | 278 | $2.9M | $35K |
| Aflac | Life, Short-term disability, Long-term disability | 340 | $334K | $80K |
| Standard Insurance Company | Life | 161 | $20K | $4K |
| Optilegra Inc. | Vision | 176 | $14K | $1K |
| Delta Dental of South Dakota | Dental | 236 | — | $700 |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 650 participants × $2,371 national average per member. Usually higher once dependents are counted.
Typical savings opportunity found in independent reviews of plans this size.
Form 5500 filing details
- Filing
- Form 5500 with Schedule A, plan year 2025
- Plan sponsor
- MG Oil Company
- Sponsor EIN
- 46-0344091
- Plan number
- 501
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 46-0344091 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- M.g. Oil Company 401(k) Plan
- Type
- 401(k) plan
- Participants
- 983
About this data
Source: MG Oil Company'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 MG Oil Company.