Polar Semiconductor, LLC

Bloomington, MN ManufacturingNAICS 334410

Self-funded health planPlan year 2025Renews January
635Participants+16% vs. prior year
$1.5MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#66 of 78Manufacturing in MNBy participants

Overview

Polar Semiconductor, LLC sponsors a self-funded health plan that covered 635 participants in plan year 2025, up 16% 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
635 · prior year 547
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Polar Semiconductor, LLC Employee Benefits Plan, plan 512 (635 participants)
Broker compensation
$11K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Life Insurance Company of North AmericaBacc, Vacc, (AD&D), Life, Long-term disability630$304K—
Transamerica Life Insurance CompanyAccident, Cancer, and Critical Illness202$55K$8K
Eyemed Vision Care on Behalf of Fidelity Security Life Insurance Co.Vision767$39K$74
Arag Insurance CompanyLegal168$21K$2K

Pharmacy benefit estimate

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

$1.5M/ year

Estimated prescription spend: 635 participants × $2,371 national average per member. Usually higher once dependents are counted.

$39K–$97K/ year

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

Brands with a generic available$11K–$29K
Lower-cost therapeutic alternatives$17K–$35K
Generic pricing vs. actual cost$7K–$22K
PBM contract terms$4K–$11K
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
Polar Semiconductor, LLC
Sponsor EIN
20-3094949
Plan number
512
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 20-3094949 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Polar Semiconductor, LLC Retirement Savings Plan
Type
401(k) plan
Participants
860

About this data

Source: Polar Semiconductor, LLC'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 Polar Semiconductor, LLC.

Request a correction · Methodology