Specialty Steel Works Incorporated
Overview
Specialty Steel Works Incorporated sponsors a self-funded health plan that covered 650 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, short-term disability, and more.
- Plan type
- ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
- Participants
- 650 · prior year 648
- Plan year
- Begins January 1 · next renewal January 2027
- Health plans filed
- Specialty Steel Works Medical Plan and Group Insurance Plan, plan 505 (650 participants)
- Stop-loss carrier
- Berkshire Hathaway Specialty Insurance Company
- Broker compensation
- $69K 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 |
|---|---|---|---|---|
| Bluecross Blueshield of Illinois | Medical, Prescription drug, Dental, HMO, PPO | 232 | $2.3M | $4K |
| Berkshire Hathaway Specialty Insurance Company | Stop-loss | 312 | $358K | $54K |
| Hartford Life and Accident | Life, Medical | 630 | $249K | $2K |
| Dearborn Life Insurance Company | Life, Short-term disability, Long-term disability | 139 | $49K | $2K |
| Vision Service Plan | Vision | 28 | $28K | $7K |
| Hartford Life and Accident Insurance Co. | Life | 516 | $750 | $13 |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 650 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 2025
- Plan sponsor
- Specialty Steel Works Incorporated
- Sponsor EIN
- 26-4430641
- Plan number
- 505
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 26-4430641 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- Specialty Steel Works Incorporated Union 401(k) Retirement Savings Plan
- Type
- 401(k) plan
- Participants
- 547
About this data
Source: Specialty Steel Works Incorporated'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 Specialty Steel Works Incorporated.