Monument Health, Inc.

Rapid City, SD Health careNAICS 622000

Self-funded health planPlan year 2024Renews July
4,497ParticipantsFirst year on file
$10.7MEst. pharmacy spend / yrParticipants × national avg.
Jul 2027Next renewalPlan year begins July 1
#1 of 3Health care in SDBy participants

Overview

Monument Health, Inc. sponsors a self-funded health plan that covered 4,497 participants in plan year 2024. The plan year starts in July. 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
4,497
Plan year
Begins July 1 · next renewal July 2027
Health plans filed
Monument Health, Inc. Employee Benefit Plan, plan 503 (4,497 participants)
Broker compensation
$168K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Reliance Standard Life Insurance CompanyCritical Illness, Accidental Death & Dismemberment, Short-term disability, Life, Accident, Long-term disability4,497$2.5M$118K
Vision Service PlanVision3,038$824K—
Unum Life Insurance Company of AmericaLong-term disability108$477K$48K
HealthpartnersEmployee Assistance Program5,383$159K—
Hartford Life & Accident Insurance CompanyBusiness Travel Accident4,732$19K$3K

Pharmacy benefit estimate

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

$10.7M/ year

Estimated prescription spend: 4,497 participants × $2,371 national average per member. Usually higher once dependents are counted.

$277K–$683K/ year

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

Brands with a generic available$81K–$203K
Lower-cost therapeutic alternatives$118K–$247K
Generic pricing vs. actual cost$51K–$154K
PBM contract terms$27K–$80K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning July 2027: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2024
Plan sponsor
Monument Health, Inc.
Sponsor EIN
46-0319070
Plan number
503
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 46-0319070 in the Department of Labor's EFAST2 Form 5500 search.

About this data

Source: Monument Health, 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 Monument Health, Inc..

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