Florham Park, New Jersey employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
18 employers in Florham Park, New Jersey filed health plans with 100 or more participants for plan year 2024, covering 53,188 participants. They reported $1.0M in insurance premiums and $3.6M in broker commissions and fees. Against 2023, premiums were down 81.7% and broker pay fell 26.1%.
Funding: 2 fully insured · 7 self-funded · 9 mixed. 16 of 18 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Florham Park
Florham Park employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Basf Corporation | $815,224 | $660,082 | 12,032 | BSC Agency, LLC |
| Bressler, Amery and Ross, PC | $207,445 | $162,763 | 232 | HUB International |
| Conduent Business Services LLC | $0 | $730,452 | 25,073 | Milliman Agency Inc |
| Maersk Agency USA Inc. | $0 | $594,619 | 11,650 | Willis Towers Watson |
| Asembia | $0 | $101,550 | 625 | Emerson Rogers LLC |
| Lifeline Medical Associates, LLC | $0 | $168,129 | 589 | Hilb Group of New England |
| Kushner Companies dba Westminster Management | $0 | $115,499 | 565 | Marsh McLennan Agency |
| Lapp Holding Na Inc. | $0 | $68,528 | 297 | Aon |
| Wiss & Company LLP | $0 | $84,797 | 290 | EPIC Insurance Brokers |
| Shionogi Inc. | $0 | $95,123 | 280 | Mercer |
| Datacor, Inc. | $0 | $53,831 | 269 | Kenneth Nichols |
| New York Jets LLC | $0 | $225,329 | 253 | HUB International |
| Prime Pensions, Inc. | $0 | $65,541 | 210 | Brandon T. Penko |
| MLD Mortgage Inc., d/b/a the Money Store | $0 | $30,924 | 204 | Benefit Ventures Corp |
| Exeltis USA, Inc. | $0 | $250,517 | 203 | Gallagher |
| VDM Metals USA LLC | $0 | $53,256 | 196 | Marsh McLennan Agency |
| Celularity LLC | $0 | $35,816 | 120 | Hotaling Group |
| Schenck, Price, Smith & King, LLP | $0 | $152,670 | 100 | Hafetz and Associates, 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 Florham Park employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| Milliman Agency, Inc. | $695,164 | 1 |
| Willis Towers Watson | $597,817 | 2 |
| BSC Agency LLC | $492,931 | 1 |
| HUB International | $314,254 | 2 |
| Mercer | $200,182 | 2 |
| Gallagher | $181,385 | 1 |
| Marsh McLennan Agency | $170,351 | 3 |
| Hilb Group of New England | $168,010 | 1 |
| Hafetz and Associates, LLC | $124,095 | 1 |
| Emerson Rogers, LLC | $74,365 | 2 |
Largest medical carriers
Medical premium written for these employers.
Florham Park 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.
| Florham Park | New Jersey | United States | |
|---|---|---|---|
| Employer plans | 18 | 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 | $108,525 | $79,574 | $72,628 |
| Medical premium per covered person | n/a | $7,942 | $7,274 |
| Plans reporting no commission | 1 | 15 | 933 |
Year over year. In plan year 2023, 25 Florham Park employers reported $5.6M in premiums and $4.9M in broker pay for 61,123 participants; in 2024 it was $1.0M and $3.6M for 53,188 participants (premiums −81.7%, broker pay −26.1%).
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 Florham Park employers pay health insurance brokers?
18 Florham Park employers reported $3,649,426 in broker commissions and fees on their 2024 Form 5500 filings, 18 of them disclosing at least some compensation. Too few fully insured medical plans in Florham Park 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 Florham Park employer that disclosed broker pay reported $108,525.
Which Florham Park employers have the largest health plans?
By insurance premium reported for 2024, Basf Corporation ($815,224), Bressler, Amery and Ross, PC ($207,445), Conduent Business Services LLC ($0) lead. 18 Florham Park employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Florham Park?
By compensation reported by Florham Park employers, the largest brokers are Milliman Agency, Inc. ($695,164, 1 plans), Willis Towers Watson ($597,817, 2 plans), BSC Agency LLC ($492,931, 1 plans). By medical premium, the largest carriers are Cigna Health and Life Insurance Company and Affiliates (cigna), Unitedhealthcare Insurance Company, Kaiser Foundation Health Plan of Colorado.
Are Florham Park employer health plans self-funded or fully insured?
Of 18 Florham Park employer plans, 2 are fully insured, 7 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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