Synovus Financial Corp.
Overview
Synovus Financial Corp. sponsors a self-funded health plan that covered 4,028 participants in plan year 2025, down 3% 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
- 4,028 · prior year 4,131
- Plan year
- Begins January 1 · next renewal January 2027
- Health plans filed
- Synovus Employee Health Plan, plan 501 (4,028 participants); Synovus Health Flexible Benefit Plan, plan 510 (1,074 participants)
- Broker compensation
- $432K 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 |
|---|---|---|---|---|
| Continental American Insurance Company | Accident, Critical Illness, Hospital, Long-term disability, Life | 4,851 | $5.8M | $432K |
| Blue Cross Blue Shield Healthcare Plan of Georgia, Inc. | Dental | 8,083 | $3.2M | — |
| Blue Cross and Blue Shield of Georgia, Inc. | Vision | 6,924 | $459K | — |
Pharmacy benefit estimate
StreamRX estimate for a plan this size. Not based on this plan's claims.
Estimated prescription spend: 4,028 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
- Synovus Financial Corp.
- Sponsor EIN
- 58-1134883
- Plan numbers
- 501, 510
- Filed with
- U.S. Department of Labor (EBSA) via EFAST2
Verify this filing: search EIN 58-1134883 in the Department of Labor's EFAST2 Form 5500 search.
Retirement plan
- Plan
- Synovus 401(k) Savings Plan
- Type
- 401(k) plan
- Participants
- 6,781
About this data
Source: Synovus Financial Corp.'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 Synovus Financial Corp..