Southern Bancorp
Overview
Southern Bancorp sponsors a self-funded health plan that covered 585 participants in plan year 2024. The plan year starts in November. Alongside medical, its benefits filing reports life insurance, dental, vision, long-term disability.
- Plan type
- ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
- Participants
- 585
- Plan year
- Begins November 1 · next renewal November 2027
- Health plans filed
- Southern Bancorp Inc. Health Benefit Plan, plan 501 (585 participants)
- Stop-loss carrier
- Siriuspoint America Insurance Co.
- Broker compensation
- $42K 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 |
|---|---|---|---|---|
| Blueadvantage Administrators of AR | Medical | 491 | $1.8M | — |
| Siriuspoint America Insurance Co. | Stop-loss | 498 | $379K | — |
| Delta Dental of Arkansas | Dental | 495 | $301K | $17K |
| Prudential Insurance Company | Life, Long-term disability | 585 | $245K | $23K |
| VSP | Vision | 459 | $64K | $2K |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 585 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
- Southern Bancorp
- Sponsor EIN
- 71-0646525
- Plan number
- 501
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 71-0646525 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- Southern Bancorp 401(k) Retirement Savings and Employee Stock Ownership Plan
- Type
- 401(k) plan
- Participants
- 707
About this data
Source: Southern Bancorp'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 Southern Bancorp.