Modern Industries Inc.
Overview
Modern Industries Inc. sponsors a self-funded health plan that covered 667 participants in plan year 2024. The plan year starts in May. 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
- 667
- Plan year
- Begins May 1 · next renewal May 2027
- Health plans filed
- Modern Industries Inc. Employee Benefit Plan, plan 502 (667 participants)
- Broker compensation
- $102K 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 |
|---|---|---|---|---|
| United of Omaha Life Insurance Company | Life, Short-term disability, Long-term disability | 629 | $727K | $96K |
| UnitedHealthcare Insurance Company | Vision | 938 | $39K | $4K |
| Cigna Health and Life Insurance Company and Affiliates | Dental | 268 | $39K | $2K |
| United Behavioral Health DBA Optum | Employee Assistance Program | 658 | $15K | — |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 667 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 2024
- Plan sponsor
- Modern Industries Inc.
- Sponsor EIN
- 86-0220615
- Plan number
- 502
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 86-0220615 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- Modern Industries, Inc. 401(k) Retirement Savings Plan
- Type
- 401(k) plan
- Participants
- 809
About this data
Source: Modern Industries Inc.'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 Modern Industries Inc..