Nisource Inc.

Merrillville, IN UtilitiesNAICS 221210

Self-funded health planPlan year 2025Renews JanuaryCollectively bargained
9,629Participants+3% vs. prior year
$22.8MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#1 of 2Utilities in INBy participants

Overview

Nisource Inc. sponsors a self-funded health plan that covered 9,629 participants in plan year 2025, up 3% from the prior year. The plan year starts in January. 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
9,629 · prior year 9,318
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Nisource Welfare Benefits Program, plan 537 (9,629 participants)
Broker compensation
$141K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilitySeveranceDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Minnesota Life Insurance Company - BasicLife13,524$11.1M$113K
Minnesota Life Insurance Company - SupplementalLife7,454$5.2M—
Prudential Insurance Company of AmericaLong-term disability7,430$4.7M—
Vision Service PlanVision7,053$1.2M—
Minnesota Life Insurance Company - Voluntary AD&DAccidental Death and Dismemberment5,144$260K$26K

Pharmacy benefit estimate

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

$22.8M/ year

Estimated prescription spend: 9,629 participants × $2,371 national average per member. Usually higher once dependents are counted.

$594K–$1.5M/ year

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

Brands with a generic available$174K–$434K
Lower-cost therapeutic alternatives$253K–$530K
Generic pricing vs. actual cost$110K–$329K
PBM contract terms$57K–$171K
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
Nisource Inc.
Sponsor EIN
35-2108964
Plan number
537
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 35-2108964 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Nisource Inc. Retirement Savings Plan
Type
401(k) plan
Participants
10,216

About this data

Source: Nisource Inc.'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 Nisource Inc..

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