Westminster-Canterbury on Chesapeake Bay

Virginia Beach, VA Health careNAICS 623000

Self-funded health planPlan year 2024Renews October
696ParticipantsFirst year on file
$1.7MEst. pharmacy spend / yrParticipants × national avg.
Oct 2027Next renewalPlan year begins October 1
#28 of 34Health care in VABy participants

Overview

Westminster-Canterbury on Chesapeake Bay sponsors a self-funded health plan that covered 696 participants in plan year 2024. The plan year starts in October. 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
696
Plan year
Begins October 1 · next renewal October 2027
Health plans filed
Westminster Canterbury on Chesapeake Bay Master Welfare Benefit Plan, plan 503 (696 participants)
Broker compensation
$25K across insured contracts
MedicalLife insuranceDentalVisionShort-term disabilityPrepaid legalLong-term disabilityOther 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 disability, Long-term disability443$316K$8K
Ameritas Life Insurance Corp.Dental, Vision616$155K$269
United of Omaha Life Insurance CompanyCritical Illness, Accident75$28K$16K
Legal ResourcesLegal Insurance67$22K—
Sentara Behavioral Health Services Inc.EAP695$8K—
Anthem Health Plans of Virginia DBA Anthem Bcbs (g1605)Vision363$5K—

Pharmacy benefit estimate

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

$1.7M/ year

Estimated prescription spend: 696 participants × $2,371 national average per member. Usually higher once dependents are counted.

$43K–$106K/ year

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

Brands with a generic available$13K–$31K
Lower-cost therapeutic alternatives$18K–$38K
Generic pricing vs. actual cost$8K–$24K
PBM contract terms$4K–$12K
The DOL's PBM fee disclosure rule first applies to this plan for the plan year beginning October 2027: semiannual PBM compensation reports and an annual audit right.

Form 5500 filing details

Filing
Form 5500 with Schedule A, plan year 2024
Plan sponsor
Westminster-Canterbury on Chesapeake Bay
Sponsor EIN
54-1071734
Plan number
503
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 54-1071734 in the Department of Labor's EFAST2 Form 5500 search.

About this data

Source: Westminster-Canterbury on Chesapeake Bay'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 Westminster-Canterbury on Chesapeake Bay.

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