Explain MY Benefits LLC
Explain MY Benefits LLC collected $5.2M in commissions and fees from 68 employer health plans in plan year 2024 filings, ranking #96 among 12,126 brokers named in the public record. Most of its named clients are in Florida.
Largest clients
Employers whose filings reported the most compensation to this broker.
Source: DOL Form 5500 Schedule A Part I, plan year 2024, grouped by broker name as filed. Dataset built October 24, 2026.
Where its clients are
Employer plans naming this broker, by employer state.
How much does Explain MY Benefits LLC earn from employer health plans?
In plan year 2024 filings, employers reported paying Explain MY Benefits LLC $5,180,116: $3,793,777 in commissions and $1,386,339 in fees, across 141 insurance contracts at 68 employers. That ranks #96 of 12,126 brokers in the public record.
What commission rate is paid on plans Explain MY Benefits LLC brokers?
Not enough fully insured medical plans name Explain MY Benefits LLC as the sole broker to compute a stable rate. The national median is 3.8% of premium.
Which employers use Explain MY Benefits LLC?
The largest reported payers in 2024 were Churchill Downs, Schenker, Inc., Total Safety U.S., Inc.. Florida is its biggest state by employer count (15 plans).
Amounts are what employers reported on their own filings. They do not include compensation from carriers that is not tied to a specific contract, and names are grouped exactly as filed, so related entities can appear separately. How this record is built.