Nova Southeastern University

Davie, FL EducationNAICS 611000

Self-funded health planPlan year 2025Renews April
3,261Participants-4% vs. prior year
$7.7MEst. pharmacy spend / yrParticipants × national avg.
Apr 2027Next renewalPlan year begins April 1
#5 of 22Education in FLBy participants

Overview

Nova Southeastern University sponsors a self-funded health plan that covered 3,261 participants in plan year 2025, down 4% from the prior year. The plan year starts in April. Alongside medical, its benefits filing reports life insurance, dental, vision, long-term disability.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
3,261 · prior year 3,410
Plan year
Begins April 1 · next renewal April 2027
Health plans filed
Nova Southeastern University Welfare Benefit Plan, plan 507 (3,261 participants)
Broker compensation
$317K across insured contracts
MedicalLife insuranceDentalVisionLong-term disability

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Independent Colleges & Universities Benefits AssociationFlexible Spending Account, Health Reimbursment Account3,261$4.5M—
Delta Dental Insurance CompanyDental2,606$1.6M$85K
Lincoln National Life Insurance CompanyLife3,707$1.5M$177K
Continental American Insurance CompanyAflac928$419K$46K
Eyemed Vision CareVision2,328$239K$9K

Pharmacy benefit estimate

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

$7.7M/ year

Estimated prescription spend: 3,261 participants × $2,371 national average per member. Usually higher once dependents are counted.

$201K–$496K/ year

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

Brands with a generic available$59K–$147K
Lower-cost therapeutic alternatives$86K–$179K
Generic pricing vs. actual cost$37K–$111K
PBM contract terms$19K–$58K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning April 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
Nova Southeastern University
Sponsor EIN
59-1083502
Plan number
507
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 59-1083502 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Nova Southeastern University 401(k) Plan
Type
401(k) plan
Participants
7,654

About this data

Source: Nova Southeastern University'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 Nova Southeastern University.

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