Sleep Number Corporation

Minneapolis, MN ManufacturingNAICS 339900

Self-funded health planPlan year 2025Renews January
3,641Participants-11% vs. prior year
$8.6MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#12 of 78Manufacturing in MNBy participants

Overview

Sleep Number Corporation sponsors a self-funded health plan that covered 3,641 participants in plan year 2025, down 11% 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
3,641 · prior year 4,108
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Sleep Number Corporation Employee Welfare Benefit Plan, plan 510 (3,641 participants)
Broker compensation
$20K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityLong-term disabilityDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Unum Life Insurance Company of AmericaLife, Long-term disability3,284$1.5M$20K
UnitedHealthcare Insurance CompanyVision3,821$220K—
Prudential Insurance Company of AmericaBusiness Travel Accident3,828—$45

Pharmacy benefit estimate

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

$8.6M/ year

Estimated prescription spend: 3,641 participants × $2,371 national average per member. Usually higher once dependents are counted.

$224K–$553K/ year

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

Brands with a generic available$66K–$164K
Lower-cost therapeutic alternatives$96K–$200K
Generic pricing vs. actual cost$41K–$124K
PBM contract terms$22K–$65K
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
Sleep Number Corporation
Sponsor EIN
41-1597886
Plan number
510
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 41-1597886 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Sleep Number Profit Sharing and 401(k) Plan
Type
401(k) plan
Participants
5,266

About this data

Source: Sleep Number Corporation'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 Sleep Number Corporation.

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