Ryan Specialty, LLC

Chicago, IL Finance & insuranceNAICS 524210

Self-funded health planPlan year 2025Renews January
5,443Participants+14% vs. prior year
$12.9MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#2 of 29Finance & insurance in ILBy participants

Overview

Ryan Specialty, LLC sponsors a self-funded health plan that covered 5,443 participants in plan year 2025, up 14% 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
5,443 · prior year 4,783
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Ryan Specialty, LLC Employee Benefits Plan, plan 501 (5,443 participants)
Broker compensation
$814K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityPrepaid legalLong-term disabilitySeveranceDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Reliastar Life Insurance CompanyLife, Short-term disability, Long-term disability8,350$6.0M$746K
Metropolitan Life Insurance CompanyDental9,056$4.3M$42K
Vision Service PlanVision3,849$656K—
MetLife Legal PlansLegal1,064$230K$25K
National Union Fire Insurance Company of Pittsburgh, PABusiness Travel Accident5,443$2K$439

Pharmacy benefit estimate

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

$12.9M/ year

Estimated prescription spend: 5,443 participants × $2,371 national average per member. Usually higher once dependents are counted.

$336K–$827K/ year

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

Brands with a generic available$98K–$245K
Lower-cost therapeutic alternatives$143K–$299K
Generic pricing vs. actual cost$62K–$186K
PBM contract terms$32K–$97K
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
Ryan Specialty, LLC
Sponsor EIN
27-2122990
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 27-2122990 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Ryan Specialty 401(k) Savings Plan
Type
401(k) plan
Participants
6,432

About this data

Source: Ryan Specialty, 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 Ryan Specialty, LLC.

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