Savannah College of Art and Design

Savannah, GA EducationNAICS 611000

Self-funded health planPlan year 2024Renews October
1,815ParticipantsFirst year on file
$4.3MEst. pharmacy spend / yrParticipants × national avg.
Oct 2027Next renewalPlan year begins October 1
#2 of 9Education in GABy participants

Overview

Savannah College of Art and Design sponsors a self-funded health plan that covered 1,815 participants in plan year 2024. The plan year starts in October. 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
1,815
Plan year
Begins October 1 · next renewal October 2027
Health plans filed
Savannah College of Art and Design Comprehensive Health and Welfare Wrap Plan, plan 508 (1,815 participants)
Stop-loss carrier
Sun Life Assurance Company of Canada
Broker compensation
$88K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disability

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
UnitedHealthcare Insurance CompanyDental, Vision2,146$2.7M$88K

Pharmacy benefit estimate

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

$4.3M/ year

Estimated prescription spend: 1,815 participants × $2,371 national average per member. Usually higher once dependents are counted.

$112K–$276K/ year

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

Brands with a generic available$33K–$82K
Lower-cost therapeutic alternatives$48K–$100K
Generic pricing vs. actual cost$21K–$62K
PBM contract terms$11K–$32K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning October 2027: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2024
Plan sponsor
Savannah College of Art and Design
Sponsor EIN
58-1357177
Plan number
508
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 58-1357177 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Savannah College of Art and Design Retirement Plan
Type
401(k) plan
Participants
2,742

About this data

Source: Savannah College of Art and Design's Form 5500 filing for plan year 2024 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 Savannah College of Art and Design.

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