Somerset, New Jersey employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
21 employers in Somerset, New Jersey filed health plans with 100 or more participants for plan year 2024, covering 54,770 participants. They reported $8.1M in insurance premiums and $4.1M in broker commissions and fees. Against 2023, premiums were up 53.7% and broker pay rose 2.0%.
Funding: 6 fully insured · 10 self-funded · 5 mixed. 15 of 21 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Somerset
Somerset employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Terumo Americas Holding, Inc. | $4,210,313 | $315,840 | 3,869 | Marsh McLennan Agency |
| Audiology Benefits Services, LLC | $1,543,449 | $114,682 | 2,969 | EPIC Insurance Brokers |
| Pharmscript LLC | $869,911 | $132,426 | 1,017 | James R. Nelligan & Associates, LLC |
| Rwjbarnabas Health | $601,607 | $861,102 | 34,553 | Matt Citarelli |
| Composecure LLC | $430,961 | $113,472 | 1,006 | Marsh McLennan Agency |
| Endava Solutions, LLC | $254,937 | $223,352 | 313 | Chas E Rue & Son Ta Rue Insurance |
| Ekornes Inc. | $105,251 | $171,941 | 100 | World Insurance Associates |
| Rotor Clip Company, Inc. | $88,384 | $33,450 | 338 | Marsh McLennan Agency |
| Shi International Corp. | $0 | $193,845 | 5,648 | Marsh McLennan Agency |
| Legend Biotech USA Inc | $0 | $639,140 | 2,503 | Gallagher |
| Orthonj, LLC | $0 | $29,488 | 456 | Gallagher |
| Micro Stamping Corporation | $0 | $33,163 | 406 | Gallagher |
| Carecloud Inc | $0 | $174,901 | 379 | EPIC Insurance Brokers |
| Natsoft Corporation | $0 | $643,521 | 209 | Cigna Health and Life Insurance Com |
| Beumer Corporation | $0 | $72,300 | 193 | HUB International |
| Budd Van Lines, Inc. | $0 | $12,963 | 184 | Acrisure |
| Everas Community Services | $0 | $103,099 | 169 | The Baldwin Group |
| Labvantage Solutions, Inc | $0 | $39,496 | 124 | Patriot Growth |
| Aspire Pharmaceuticals Inc. | $0 | $52,817 | 119 | Emerson Rogers, LLC |
| Takara Belmont USA, Inc. | $0 | $110,448 | 115 | Savoy Associates |
| The Carian Group Corporation | $0 | $19,222 | 100 | Centerstone Ins & Fin Ser |
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 Somerset employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| Gallagher | $694,528 | 3 |
| Marsh McLennan Agency | $552,181 | 4 |
| Cigna Health and Life Insurance Com | $487,848 | 1 |
| EPIC Insurance Brokers | $284,812 | 2 |
| Matt Citarelli | $235,344 | 1 |
| Chas E Rue & Son Ta Rue Insurance | $223,352 | 1 |
| Aon | $192,691 | 1 |
| Usb Health LLC | $176,509 | 1 |
| Foundation Risk Partners Corp | $147,091 | 1 |
| World Insurance Associates | $120,109 | 1 |
Largest medical carriers
Medical premium written for these employers.
Somerset 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.
| Somerset | New Jersey | United States | |
|---|---|---|---|
| Employer plans | 21 | 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 | $113,472 | $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, 21 Somerset employers reported $5.3M in premiums and $4.0M in broker pay for 62,158 participants; in 2024 it was $8.1M and $4.1M for 54,770 participants (premiums +53.7%, broker pay +2.0%).
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 Somerset employers pay health insurance brokers?
21 Somerset employers reported $4,090,668 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 Somerset 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 Somerset employer that disclosed broker pay reported $113,472.
Which Somerset employers have the largest health plans?
By insurance premium reported for 2024, Terumo Americas Holding, Inc. ($4.2M), Audiology Benefits Services, LLC ($1.5M), Pharmscript LLC ($869,911) lead. 21 Somerset employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Somerset?
By compensation reported by Somerset employers, the largest brokers are Gallagher ($694,528, 3 plans), Marsh McLennan Agency ($552,181, 4 plans), Cigna Health and Life Insurance Com ($487,848, 1 plans). By medical premium, the largest carriers are Cigna Health and Life Insurance Company, Horizon Healthcare Services, Inc., Aetna Life Insurance Company.
Are Somerset employer health plans self-funded or fully insured?
Of 21 Somerset employer plans, 6 are fully insured, 10 are self-funded and 5 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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