Cherry Hill, New Jersey employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
22 employers in Cherry Hill, New Jersey filed health plans with 100 or more participants for plan year 2024, covering 11,868 participants. They reported $7.2M in insurance premiums and $1.7M in broker commissions and fees. Against 2023, premiums were down 33.0% and broker pay rose 1.4%.
Funding: 3 fully insured · 10 self-funded · 9 mixed. 19 of 22 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Cherry Hill
Cherry Hill employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Source4solutions, LLC | $4,033,818 | $365,442 | 694 | The Baldwin Group |
| Kares Management, Inc. | $1,433,814 | $177,017 | 248 | World Ins Assoc LLC |
| Bancroft | $816,806 | $125,214 | 2,412 | Corporate Synergies |
| Lassonde Pappas & Company, Inc. | $435,764 | $58,495 | 845 | Lockton |
| Flaster / Greenberg PC | $230,105 | $31,008 | 119 | EPIC Insurance Brokers |
| Avalon Flooring | $191,877 | $27,632 | 316 | Innovative Benefit Planning, LLC |
| Emm Loans LLC | $103,781 | $13,944 | 171 | Conner Strong & Buckelew |
| Fox Management Rehabilitation Services LLC | $0 | $445,134 | 2,181 | USI Insurance Services |
| Local 274 Health and Welfare Fund | $0 | $7,875 | 1,056 | Bolton Partners |
| Innovairre Holdings, LLC | $0 | $37,026 | 584 | Corporate Synergies |
| Corcentric LLC | $0 | $11,255 | 499 | Simkiss & Block, an Alera Group Agy |
| Remington & Vernick Engineers Ii | $0 | $53,172 | 452 | Conner Strong & Buckelew |
| Auto Lenders Liquidation Center, Inc. | $0 | $58,436 | 425 | Conner Strong & Buckelew |
| Jewish Federation of Southern Jersey-Hmo | $0 | $47,596 | 333 | Emerson Reid LLC |
| Riggs Distler & Company, Inc. | $0 | $38,832 | 310 | Lockton |
| Physician and Tactical Healthcare Services, LLC | $0 | $88,454 | 239 | Precision Benefits Group |
| First Children Services, LLC. | $0 | $14,156 | 225 | Johnson Kendall and Johnson |
| Matson, Driscoll, & Damico LLP | $0 | $4,459 | 179 | Corporate Synergies |
| Graymar Environmental Services, LLC | $0 | $58,469 | 161 | Kibble & Prentice Holding Company |
| MRS Bpo, LLC | $0 | — | 151 | — |
| HSF Enterprises, Inc. | $0 | $10,728 | 137 | Baskin, Joyce C |
| Helpsy Holdings, PBC | $0 | $7,814 | 131 | The Hilb Group of Maryland, LLC |
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 Cherry Hill employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| USI Insurance Services | $379,867 | 1 |
| The Baldwin Group | $276,566 | 1 |
| Corporate Synergies | $184,131 | 4 |
| Conner Strong & Buckelew | $118,295 | 4 |
| Lockton | $96,737 | 2 |
| World Ins Assoc LLC | $93,418 | 1 |
| Willis Towers Watson | $88,876 | 1 |
| Kistler Tiffany Benefits General | $71,796 | 1 |
| Precision Benefits Group | $71,569 | 1 |
| Emerson Rogers, LLC | $69,294 | 3 |
Largest medical carriers
Medical premium written for these employers.
Cherry Hill against New Jersey 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.
| Cherry Hill | New Jersey | United States | |
|---|---|---|---|
| Employer plans | 22 | 1,521 | 58,547 |
| Median commission rate | n/a | 5.4% | 3.8% |
| Middle half of rates | n/a | 2.7% – 7.3% | 2.7% – 5.0% |
| Median broker pay per employer | $38,832 | $79,574 | $72,628 |
| Medical premium per covered person | n/a | $7,942 | $7,274 |
| Plans reporting no commission | 0 | 15 | 933 |
Year over year. In plan year 2023, 23 Cherry Hill employers reported $11M in premiums and $1.7M in broker pay for 11,467 participants; in 2024 it was $7.2M and $1.7M for 11,868 participants (premiums −33.0%, broker pay +1.4%).
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 Cherry Hill employers pay health insurance brokers?
22 Cherry Hill employers reported $1,682,158 in broker commissions and fees on their 2024 Form 5500 filings, 21 of them disclosing at least some compensation. Too few fully insured medical plans in Cherry Hill reported premium to compute a stable commission rate; the New Jersey median is 5.4% and the U.S. median is 3.8%. In dollars, the median Cherry Hill employer that disclosed broker pay reported $38,832.
Which Cherry Hill employers have the largest health plans?
By insurance premium reported for 2024, Source4solutions, LLC ($4.0M), Kares Management, Inc. ($1.4M), Bancroft ($816,806) lead. 22 Cherry Hill employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Cherry Hill?
By compensation reported by Cherry Hill employers, the largest brokers are USI Insurance Services ($379,867, 1 plans), The Baldwin Group ($276,566, 1 plans), Corporate Synergies ($184,131, 4 plans). By medical premium, the largest carriers are Cigna Health and Life Insurance Company, The Guardian Life Insurance Company of America, Aetna.
Are Cherry Hill employer health plans self-funded or fully insured?
Of 22 Cherry Hill employer plans, 3 are fully insured, 10 are self-funded and 9 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 New Jersey
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