Newark, New Jersey employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
39 employers in Newark, New Jersey filed health plans with 100 or more participants for plan year 2024, covering 104,142 participants. They reported $68M in insurance premiums and $6.6M in broker commissions and fees. Against 2023, premiums were down 5.6% and broker pay rose 8.2%.
Funding: 10 fully insured · 19 self-funded · 10 mixed. 29 of 39 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Newark
Newark employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| The Prudential Insurance Company of America | $65,081,428 | — | 35,354 | — |
| McCarter & English, LLP | $1,472,048 | $210,874 | 817 | Willis Towers Watson |
| Broadridge Financial Solutions, Inc. | $1,211,240 | $494,373 | 7,031 | Mercer |
| Sills Cummis & Gross P.C. | $247,072 | $69,107 | 214 | Marsh McLennan Agency |
| Ila Local #1478-2 Health&Welfare Fund | $206,459 | $6,194 | 430 | Eberts and Harrison Inc. |
| Shamrock Technologies, Inc. | $117,531 | $38,865 | 174 | USI Insurance Services |
| Fabuwood Cabinetry Corp. | $20,531 | $268,339 | 314 | Reliable Brokerage |
| Youth Consultation Service | $14,393 | $18,682 | 392 | Brian Fisher |
| The Leaguers, Inc. | $12,079 | $95,115 | 154 | Corporate Synergies |
| Public Service Enterprise Group Incorporated | $0 | $499,559 | 14,443 | Mercer |
| Panasonic Corporation of North America | $0 | $1,153,523 | 12,870 | Mercer |
| Board of Trustees, Heavy & General Laborers Welfare Fund of New Jersey | $0 | $303,467 | 9,796 | The Segal Co Eastern States Inc |
| Public Service Electric and Gas Company | $0 | $499,559 | 4,652 | Mercer |
| Horizon Healthcare Services, Inc. | $0 | — | 4,640 | — |
| District 1199j Benefit Fund | $0 | $37,301 | 2,890 | John Blasch |
| Webmd Health Corp | $0 | $407,969 | 2,213 | Marsh McLennan Agency |
| Health & Welfare Committee of the Local 99, Health & Welfare Fund | $0 | — | 1,984 | — |
| Kipp Team and Family Schools Inc. | $0 | $531,925 | 1,303 | Conner Strong & Buckelew |
| Idt Corporation | $0 | $29,261 | 510 | Brown & Brown |
| Pseg Power LLC | $0 | $499,559 | 461 | Mercer |
| Yang Ming America Corp. | $0 | $23,062 | 295 | NFP |
| KS Engineers, P.C. | $0 | $244,162 | 290 | RSC Insurance Brokerage, Inc. |
| Gibbons P.C. | $0 | $78,196 | 288 | Conner Strong & Buckelew |
| New Jersey Devils, LLC | $0 | $59,252 | 287 | Marsh McLennan Agency |
| La Casa de Don Pedro, Inc. | $0 | $89,551 | 282 | Altomore Financial Group, Inc. |
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 Newark employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| Mercer | $3,413,717 | 6 |
| Conner Strong & Buckelew | $646,323 | 3 |
| Marsh McLennan Agency | $425,777 | 5 |
| Willis Towers Watson | $193,199 | 2 |
| Aon | $185,448 | 5 |
| Reliable Brokerage | $179,008 | 1 |
| RSC Insurance Brokerage, Inc. | $172,424 | 1 |
| F.B.P. Insurance Services, LLC | $150,407 | 1 |
| Corporate Synergies | $131,085 | 2 |
| The Segal Company (eastern States) | $125,114 | 1 |
Largest medical carriers
Medical premium written for these employers.
Newark 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.
| Newark | New Jersey | United States | |
|---|---|---|---|
| Employer plans | 39 | 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 | $78,196 | $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, 36 Newark employers reported $72M in premiums and $6.1M in broker pay for 104,817 participants; in 2024 it was $68M and $6.6M for 104,142 participants (premiums −5.6%, broker pay +8.2%).
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 Newark employers pay health insurance brokers?
39 Newark employers reported $6,615,952 in broker commissions and fees on their 2024 Form 5500 filings, 33 of them disclosing at least some compensation. Too few fully insured medical plans in Newark 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 Newark employer that disclosed broker pay reported $78,196.
Which Newark employers have the largest health plans?
By insurance premium reported for 2024, The Prudential Insurance Company of America ($65M), McCarter & English, LLP ($1.5M), Broadridge Financial Solutions, Inc. ($1.2M) lead. 25 Newark employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Newark?
By compensation reported by Newark employers, the largest brokers are Mercer ($3.4M, 6 plans), Conner Strong & Buckelew ($646,323, 3 plans), Marsh McLennan Agency ($425,777, 5 plans). By medical premium, the largest carriers are Aetna Life Insurance Company, Unitedhealthcare Insurance Company, Cigna Health and Life Insurance Company.
Are Newark employer health plans self-funded or fully insured?
Of 39 Newark employer plans, 10 are fully insured, 19 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 New Jersey
Is your company on this page? Get its Form 5500 read next to the Newark, New Jersey medians.
Tell us the company and a specialist writes up what the public Form 5500 record shows for it, if it files one: broker pay against the medians above, fee disclosure and filing timeliness, in a form you can forward to your CFO or counsel. Tick the box if you also want a 15-minute walkthrough call.
We don't sell your email. By submitting, you agree that BenefitsLedger and its benefits advisory partner, WellthCare, may email or call you about these findings. Opt out anytime by replying. See our privacy policy.