SLM Corporation
Overview
SLM Corporation sponsors a self-funded health plan that covered 1,757 participants in plan year 2024. 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
- 1,757
- Plan year
- Begins January 1 · next renewal January 2027
- Health plans filed
- Sallie MAE Employees Comprehensive Welfare Benefits Plan, plan 501 (1,757 participants)
- Stop-loss carrier
- Unum Life Insurance Company of America
- Broker compensation
- $491K 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 |
|---|---|---|---|---|
| Metropolitan Life Insurance Company | Dental, Life, Short-term disability, Long-term disability | 3,228 | $3.1M | $304K |
| Unum Life Insurance Company of America | Stop-loss | 1,426 | $2.2M | $168K |
| UnitedHealthcare Insurance Company | Vision | 1,313 | $287K | — |
| MetLife Legal Plans, Inc. | Legal | 250 | $84K | $8K |
| New York Life (life Insurance Company of North America) | Business Travel Accident | 1,757 | $10K | $2K |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 1,757 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 2024
- Plan sponsor
- SLM Corporation
- Sponsor EIN
- 92-2304918
- Plan number
- 501
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 92-2304918 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- Sallie MAE 401(k) Savings Plan
- Type
- 401(k) plan
- Participants
- 2,324
About this data
Source: SLM Corporation'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 SLM Corporation.