Sun Chemical Corporation

Parsippany, NJ ManufacturingNAICS 325900

Self-funded health planPlan year 2025Renews January
2,281Participants+12% vs. prior year
$5.4MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#24 of 76Manufacturing in NJBy participants

Overview

Sun Chemical Corporation sponsors a self-funded health plan that covered 2,281 participants in plan year 2025, up 12% 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
2,281 · prior year 2,035
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Group Insurance Plan for Employees of Sun Chemical Corporation, plan 501 (2,281 participants)
Broker compensation
$336K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityPrepaid legalDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Hartford Life and AccidentLife, Short-term disability2,464$2.0M$120K
Bluecross Blueshield of IllinoisPrescription drug, HMO82$659K—
Kaiser Foundation Health Plan, Inc.Prescription drug, HMO28$324K—
Fidelity Security Life Insurance CompanyVision1,633$209K$200K
Arag Insurance CompanyLegal838$92K—
National Union Fire Insurance Company of Pittsburgh, PABusiness Travel Accident, Accidental Dea2,467$78K$16K
Empathia, Inc.Employee Assistance Program2,467$24K—

Pharmacy benefit estimate

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

$5.4M/ year

Estimated prescription spend: 2,281 participants × $2,371 national average per member. Usually higher once dependents are counted.

$141K–$347K/ year

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

Brands with a generic available$41K–$103K
Lower-cost therapeutic alternatives$60K–$125K
Generic pricing vs. actual cost$26K–$78K
PBM contract terms$14K–$41K
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
Sun Chemical Corporation
Sponsor EIN
22-2761297
Plan number
501
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 22-2761297 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Sun Chemical Corporation Retirement Plan
Type
Pension plan
Participants
4,730

About this data

Source: Sun Chemical 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 Sun Chemical Corporation.

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