New Perspective Senior Living

Minnetonka, MN Health careNAICS 624200

Self-funded health planPlan year 2024Renews July
2,296ParticipantsFirst year on file
$5.4MEst. pharmacy spend / yrParticipants × national avg.
Jul 2027Next renewalPlan year begins July 1
#22 of 50Health care in MNBy participants

Overview

New Perspective Senior Living sponsors a self-funded health plan that covered 2,296 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
2,296
Plan year
Begins July 1 · next renewal July 2027
Health plans filed
New Perspective Senior Living Employee Benefits Plan, plan 511 (2,296 participants)
Broker compensation
$91K 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
Sunlife Assurance Company of CanadaLife, Short-term disability, Long-term disability2,225$643K$85K
Eyemed Vision Care on Behalf of Fidelity Security Life Insurance Co.Vision676$37K$6K

Pharmacy benefit estimate

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

$5.4M/ year

Estimated prescription spend: 2,296 participants × $2,371 national average per member. Usually higher once dependents are counted.

$142K–$349K/ year

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

Brands with a generic available$41K–$103K
Lower-cost therapeutic alternatives$60K–$126K
Generic pricing vs. actual cost$26K–$78K
PBM contract terms$14K–$41K
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
New Perspective Senior Living
Sponsor EIN
61-1572941
Plan number
511
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 61-1572941 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
New Perspective Senior Living 401(k) Plan
Type
401(k) plan
Participants
2,477

About this data

Source: New Perspective Senior Living'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 New Perspective Senior Living.

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