Nokia of America Corporation

Murray Hill, NJ ManufacturingNAICS 334200

Self-funded health planPlan year 2025Renews JanuaryCollectively bargained

Free pharmacy preview Request a correction

54,923Participants-6% vs. prior year

$130.2MEst. pharmacy spend / yrParticipants × national avg.

Jan 2027Next renewalPlan year begins January 1

#2 of 76Manufacturing in NJBy participants

Overview

Nokia of America Corporation sponsors a self-funded health plan that covered 54,923 participants in plan year 2025, down 6% from the prior year. The plan year starts in January. Alongside medical, its benefits filing reports life insurance, dental, short-term disability, long-term disability, and more.

Plan type: ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants: 54,923 · prior year 58,486
Plan year: Begins January 1 · next renewal January 2027
Health plans filed: Nokia Retiree Welfare Benefits Plan, plan 504 (54,923 participants); Nokia Medical Expense Plan for Active Employees, plan 502 (6,794 participants)
Broker compensation: $948K across insured contracts

MedicalLife insuranceDentalShort-term disabilityLong-term disabilitySeveranceDeath benefitsOther welfare benefits

Insurance carriers

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

Carrier	Coverage	Covered	Premium	Broker comp
Metropolitan Life Insurance Company	Life, Accidental Death and Dismemberment, Long-term disability, Long-Term Care, Accidental Death & Dismemberment	92,572	$120.0M	$948K
Aetna Life Insurance Co.	Dental	15,267	$6.7M	—
Kaiser Foundation Health Plan of N.ca	HMO	432	$2.3M	—

Pharmacy benefit estimate

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

$130.2M/ year

Estimated prescription spend: 54,923 participants × $2,371 national average per member. Usually higher once dependents are counted.

$3.4M–$8.3M/ year

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

Brands with a generic available$990K–$2.5M

Lower-cost therapeutic alternatives$1.4M–$3.0M

Generic pricing vs. actual cost$625K–$1.9M

PBM contract terms$326K–$977K

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: Nokia of America Corporation
Sponsor EIN: 22-3408857
Plan numbers: 504, 502
Filed with: U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 22-3408857 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan: Nokia Retirement Income Plan
Type: Pension plan
Participants: 92,572

About this data

Source: Nokia of America Corporation'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 Nokia of America Corporation.

Request a correction · Methodology