Worthington Steel, Inc.

Columbus, OH ManufacturingNAICS 331200

Self-funded health planPlan year 2025Renews January
2,633Participants-14% vs. prior year
$6.2MEst. pharmacy spend / yrParticipants × national avg.
Jan 2027Next renewalPlan year begins January 1
#31 of 147Manufacturing in OHBy participants

Overview

Worthington Steel, Inc. sponsors a self-funded health plan that covered 2,633 participants in plan year 2025, down 14% from the prior year. The plan year starts in January. Alongside medical, its benefits filing reports life insurance, dental, vision, long-term disability, and more.

Plan type
ERISA welfare benefit plan, self-funded (benefits paid from employer assets or a trust)
Participants
2,633 · prior year 3,073
Plan year
Begins January 1 · next renewal January 2027
Health plans filed
Worthington Steel Health and Welfare Plan, plan 502 (2,633 participants)
Broker compensation
$154K across insured contracts
MedicalLife insuranceDentalVisionLong-term disabilityDeath benefitsOther welfare benefits

Insurance carriers

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

CarrierCoverageCoveredPremiumBroker comp
Lincoln National Life Insurance CompanyLife, Long-term disability2,912$2.5M$119K
Delta Dental of OhioDental4,954$1.4M—
Metropolitan Life Insurance CompanyLong-term disability2,608$504K$35K
Vision Service PlanVision2,672$453K—
Curalinc, LLC DBA Curalinc HealthcareEmployee Assistance Program2,596$44K—

Pharmacy benefit estimate

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

$6.2M/ year

Estimated prescription spend: 2,633 participants × $2,371 national average per member. Usually higher once dependents are counted.

$162K–$400K/ year

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

Brands with a generic available$47K–$119K
Lower-cost therapeutic alternatives$69K–$145K
Generic pricing vs. actual cost$30K–$90K
PBM contract terms$16K–$47K
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
Worthington Steel, Inc.
Sponsor EIN
92-2632000
Plan number
502
Filed with
U.S. Department of Labor (EBSA) via EFAST2

Verify this filing: search EIN 92-2632000 in the Department of Labor's EFAST2 Form 5500 search.

Retirement plan

Plan
Worthington Steel, Inc. 401(k) Retirement Savings Plan
Type
Defined contribution plan
Participants
3,315

About this data

Source: Worthington Steel, Inc.'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 Worthington Steel, Inc..

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