Northwestern Mutual Life Ins.co.

Milwaukee, WI Finance & insuranceNAICS 524140

Self-funded health planPlan year 2025Renews JanuaryCollectively bargained
8,369Participants0% vs. prior year
$19.8MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#1 of 18Finance & insurance in WIBy participants

Overview

Northwestern Mutual Life Ins.co. sponsors a self-funded health plan that covered 8,369 participants in plan year 2025, about the same as the prior year. The plan year starts in January. Alongside medical, its benefits filing reports life insurance, dental, vision, long-term disability, and more.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
8,369 · prior year 8,403
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
The Northwestern Mutual Employee Flexible Benefit Plan, plan 526 (8,369 participants); NML Ins Co. Agents Flexible Benefit Plan, plan 515 (918 participants)
MedicalLife insuranceDentalVisionLong-term disabilityDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Northwestern Mutual Life Ins. Co.Life, Long-term disability9,137$29.0M—
Blue Cross and Blue Shield of WisconsinDental, Vision3,735$6.8M—
Blue Cross Blue Shield of WisconsinDental, Vision146$239K—
Zurich American Insurance CompanyAD&D8,246——

Pharmacy benefit estimate

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

$19.8M/ year

Estimated prescription spend: 8,369 participants × $2,371 national average per member. Usually higher once dependents are counted.

$516K–$1.3M/ year

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

Brands with a generic available$151K–$377K
Lower-cost therapeutic alternatives$220K–$460K
Generic pricing vs. actual cost$95K–$286K
PBM contract terms$50K–$149K
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
Northwestern Mutual Life Ins.co.
Sponsor EIN
39-0509570
Plan numbers
526, 515
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 39-0509570 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
The Northwestern Mutual Employee Retirement Plan
Type
Pension plan
Participants
14,636

About this data

Source: Northwestern Mutual Life Ins.co.'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 Northwestern Mutual Life Ins.co..

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