Parallel Inc.
Overview
Parallel Inc. sponsors a self-funded health plan that covered 922 participants in plan year 2025, up 21% 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
- 922 · prior year 763
- Plan year
- Begins January 1 · next renewal January 2027
- Health plans filed
- Parallel Inc. Welfare Benefit Plan, plan 501 (922 participants)
- Broker compensation
- $102K across insured contracts
Insurance carriers
Insured coverage reported on Schedule A. Self-funded medical claims aren't reported there.
| Carrier | Coverage | Covered | Premium | Broker comp |
|---|---|---|---|---|
| Cigna Health and Life Insurance Company and Affiliates | Dental, Vision | 539 | $333K | $33K |
| Life Insurance Company of North America | Life, Short-term disability, Long-term disability | 746 | $262K | $60K |
| Cigna Health and Life Insurance Company | Accident | 746 | $43K | $9K |
| New York Life Group Insurance Company of New York | Short-term disability | 746 | $220 | $29 |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 922 participants × $2,371 national average per member. Usually higher once dependents are counted.
Typical savings opportunity found in independent reviews of plans this size.
Form 5500 filing details
- Filing
- Form 5500 with Schedule A, plan year 2025
- Plan sponsor
- Parallel Inc.
- Sponsor EIN
- 47-1218941
- Plan number
- 501
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 47-1218941 in the Department of Labor's EFAST2 Form 5500 search.
About this data
Source: Parallel 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 Parallel Inc..