Wakefield, Massachusetts employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
17 employers in Wakefield, Massachusetts filed health plans with 100 or more participants for plan year 2024, covering 7,460 participants. They reported $27M in insurance premiums and $2.0M in broker commissions and fees. Against 2023, premiums were down 8.3% and broker pay fell 14.4%.
Funding: 3 fully insured · 4 self-funded · 10 mixed. 14 of 17 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Wakefield
Wakefield employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Odyssey Systems Consulting Group, LTD | $8,698,131 | $427,900 | 1,179 | NFP |
| Vestmark, Inc. | $6,998,756 | $169,227 | 416 | Gallagher |
| Sentinel Benefits Group, Inc. | $3,272,010 | $78,235 | 239 | Sentinel Insurance Agency, Inc. |
| Veracross, LLC | $3,102,034 | $85,025 | 203 | Hilb Group of New England |
| Kelmar Associates, LLC | $3,033,595 | $72,789 | 255 | IMA Financial |
| 128 Plumbing and Heating Inc | $1,788,020 | $45,659 | 175 | USI Insurance Services |
| Allegiance Fundraising | $145,350 | $69,289 | 221 | Holmes Murphy |
| World Travel Holdings, Inc. | $0 | $112,557 | 1,098 | RSC Insurance Brokerage, Inc. |
| Thrive Skilled Pediatric Care, LLC | $0 | $4,534 | 944 | Brown & Brown |
| Tuv Sud America Inc. | $0 | $40,099 | 824 | Mercer |
| RWS Holdings PLC | $0 | $377,583 | 591 | Marsh McLennan Agency |
| Yokohama TWS North America | $0 | $170,300 | 382 | Lockton |
| C-4 Analytics, LLC | $0 | $73,818 | 254 | Gallagher |
| DN Tanks LLC | $0 | $33,895 | 248 | Indigo Insurance Services |
| Communitas, Inc. | $0 | $38,099 | 165 | HUB International |
| Virtual Incorporated | $0 | $74,482 | 157 | Gallagher |
| Nova Ventures Group Corp. | $0 | $90,285 | 109 | Lockton |
Source: DOL Form 5500 Schedule A, plan year 2024; employers are grouped by the sponsor's mailing city as filed. Self-funded employers show only stop-loss and ancillary premium.
Who gets paid
Commissions and fees reported by Wakefield employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| NFP | $418,926 | 1 |
| Marsh McLennan Agency | $379,688 | 2 |
| Gallagher | $303,553 | 3 |
| Lockton | $260,585 | 2 |
| RSC Insurance Brokerage, Inc. | $110,072 | 1 |
| Hilb Group of New England | $85,025 | 1 |
| Sentinel Insurance Agency, Inc. | $78,235 | 1 |
| IMA Financial | $72,789 | 1 |
| Holmes Murphy | $66,386 | 1 |
| USI Insurance Services | $45,659 | 1 |
Largest medical carriers
Medical premium written for these employers.
Wakefield against Massachusetts and the U.S.
Medians over the same definitions on every BenefitsLedger page: commission rate on commission-paying, fully insured medical plans; broker pay per employer that disclosed any; medical premium per covered person.
| Wakefield | Massachusetts | United States | |
|---|---|---|---|
| Employer plans | 17 | 1,864 | 58,547 |
| Median commission rate | n/a | 2.5% | 3.8% |
| Middle half of rates | n/a | 2.0% – 3.2% | 2.7% – 5.0% |
| Median broker pay per employer | $74,482 | $75,078 | $72,628 |
| Medical premium per covered person | n/a | $8,072 | $7,274 |
| Plans reporting no commission | 0 | 18 | 933 |
Year over year. In plan year 2023, 18 Wakefield employers reported $29M in premiums and $2.3M in broker pay for 7,397 participants; in 2024 it was $27M and $2.0M for 7,460 participants (premiums −8.3%, broker pay −14.4%).
Source: DOL Form 5500 and Schedule A, plan years 2024 and 2023, employer health plans with 100 or more participants; built October 24, 2026. Medians need at least 10 rated plans to be shown for a city. Methodology.
How much do Wakefield employers pay health insurance brokers?
17 Wakefield employers reported $1,963,776 in broker commissions and fees on their 2024 Form 5500 filings, 17 of them disclosing at least some compensation. Too few fully insured medical plans in Wakefield reported premium to compute a stable commission rate; the Massachusetts median is 2.5% and the U.S. median is 3.8%. In dollars, the median Wakefield employer that disclosed broker pay reported $74,482.
Which Wakefield employers have the largest health plans?
By insurance premium reported for 2024, Odyssey Systems Consulting Group, LTD ($8.7M), Vestmark, Inc. ($7.0M), Sentinel Benefits Group, Inc. ($3.3M) lead. 17 Wakefield employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Wakefield?
By compensation reported by Wakefield employers, the largest brokers are NFP ($418,926, 1 plans), Marsh McLennan Agency ($379,688, 2 plans), Gallagher ($303,553, 3 plans). By medical premium, the largest carriers are Blue Cross Blue Shield of Massachusetts, Inc., Bluecross Blueshield of Texas, Unitedhealthcare Insurance Company.
Are Wakefield employer health plans self-funded or fully insured?
Of 17 Wakefield employer plans, 3 are fully insured, 4 are self-funded and 10 mix insured and self-funded coverage. Self-funded plans report only stop-loss and ancillary contracts on Schedule A, so their premium and broker pay understate total spend.
Other cities in Massachusetts
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