MCMURRAY, Pa.–(BUSINESS WIRE)–
Mark Farrah Associates (MFA), www.markfarrah.com, presents a high-level overview of health profit insights gleaned from MFA’s 5500 Employer Health Plus product. Large private-sector employers providing health and welfare profit plans subject to ERISA are required to file the annual Form 5500 with the Internal Revenue Service. Form 5500 is a primary source of employer details about health and welfare advantages in addition to pension plans. Observations obtained from 5500 Employer Health Plus are based on 79,287 employers that indicated that they had energetic health profit contracts as of their most up-to-date filings.
- Private-sector employers reported 83.3 million potential plan participants across the spectrum of all health profit contracts.
- The NEA (National Education Association) Retiree Health Plan reported the very best variety of welfare plan participants, over 2.73 million.
- Slightly below half of all profit funding arrangements (44%) that included health advantages were fully-insured plans.
- Brokers and agents received greater than $2.9 billion in total fees and commissions for assisting with sales of varied health and welfare profit products inclusive of health, HMO and PPO contracts.
About 5500 Employer Health Plus
MFA’s 5500 Employer Health Plus has been designed to simplify the evaluation of employer health & welfare advantages including medical, dental, vision, disability and other advantages. This tool uniquely focuses on health & ancillary advantages purchased by private sector employers and the relationships employers have with contracted insurers, administrators and brokers. The user interface allows for each detailed and summary level data retrieval. Data sources include Form 5500 filings and related schedules for plans which have the indication of providing health & welfare advantages.
To read the FREE full text of “A Transient Evaluation of Private Sector Health Insurance Business”, visit the Evaluation Briefs library on Mark Farrah Associates’ website.
About Mark Farrah Associates (MFA)
MFA is a number one data aggregator and publisher providing health plan market data and evaluation tools for the healthcare industry. Committed to simplifying evaluation of medical insurance business, our products include: Health Coverage Portal™, Medicare Business Online™, Medicare Advantages Analyzer™, County Health Coverage™, Health Plans USA™ and 5500 Employer Health Plus. Follow us on LinkedIn!
Also, for the most recent insights about health plan enrollment trends and financial performance, visit the FREE MFA Healthcare Business Strategy Briefs on the MFA website.
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Mark Farrah AssociatesAnn Marie Wolfe, [email protected]
Source: Mark Farrah Associates