South Jersey Industries, Inc.

Folsom, NJ UtilitiesNAICS 221210

Self-funded health planPlan year 2025Renews January
671Participants+1% vs. prior year
$1.6MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#4 of 5Utilities in NJBy participants

Overview

South Jersey Industries, Inc. sponsors a self-funded health plan that covered 671 participants in plan year 2025, about the same as the prior year. The plan year starts in January. Alongside medical, its benefits filing reports life insurance, dental, vision.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
671 · prior year 663
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
South Jersey Industries, Inc. Health Reimbursement Account for Retirees, plan 507 (671 participants); South Jersey Industries, Inc. Post-Retirement Plan for Elizabethtown and Elkton Gas Employees, plan 510 (482 participants)
Broker compensation
$46K across insured contracts
MedicalLife insuranceDentalVisionOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
United of Omaha Life Insurance CompanyLife187$181K$46K
Vision Service PlanVision71$24K$612

Pharmacy benefit estimate

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

$1.6M/ year

Estimated prescription spend: 671 participants × $2,371 national average per member. Usually higher once dependents are counted.

$41K–$102K/ year

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

Brands with a generic available$12K–$30K
Lower-cost therapeutic alternatives$18K–$37K
Generic pricing vs. actual cost$8K–$23K
PBM contract terms$4K–$12K
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
South Jersey Industries, Inc.
Sponsor EIN
22-1901645
Plan numbers
507, 510
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 22-1901645 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
South Jersey Industries, Inc. 401(k) Plan
Type
401(k) plan
Participants
1,571

About this data

Source: South Jersey Industries, Inc.'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 South Jersey Industries, Inc..

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