Schenectady, New York employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
18 employers in Schenectady, New York filed health plans with 100 or more participants for plan year 2024, covering 28,133 participants. They reported $23,148 in insurance premiums and $1.3M in broker commissions and fees. Against 2023, premiums were down 9.5% and broker pay fell 1.9%.
Funding: 3 fully insured · 8 self-funded · 7 mixed. 15 of 18 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Schenectady
Schenectady employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Project P Holdings, LLC | $23,148 | $120,679 | 16,312 | Topbenefits |
| Ellis Hospital | $0 | — | 2,166 | — |
| Momentive Performance Materials Inc. | $0 | $178,372 | 1,884 | Lockton |
| IBEW Local No. 236 Health and Benefit Fu | $0 | $17,866 | 1,801 | Marshall & Sterling |
| MVP Service Corp | $0 | $137,617 | 1,602 | Rocco Mancini |
| Union College | $0 | $57,987 | 1,047 | Brown & Brown |
| Capital Region Gaming LLC dba Rivers Casino and Resort Schenectady | $0 | $44,196 | 770 | Gallagher |
| Wildwood Programs, Inc. | $0 | $156,865 | 663 | Marshall & Sterling Employee Benefi |
| Laborers' Local #157 Health Benefits Fun | $0 | $14,312 | 384 | Hilb Group of New England |
| NYS Federation of Growers' and Processors' Associations, Inc. | $0 | $30,489 | 292 | Marshall & Sterling Insurance |
| The Daily Gazette Company | $0 | $13,227 | 174 | Marshall & Sterling Employee Benefi |
| Beekman 1802 | $0 | $73,385 | 169 | Marshall & Sterling Inc |
| Rotterdam Ventures, Inc. | $0 | $80,690 | 169 | Haylor Freyer & Coon Inc |
| Schenectady Family Health Services | $0 | $161,332 | 152 | NFP |
| Von Roll USA Inc | $0 | $65,506 | 150 | Marshall & Sterling Employee Benefi |
| AAA Northway, Inc. | $0 | $7,648 | 138 | Gallagher |
| Kingsway Arms Nursing Center, Inc. | $0 | $57,260 | 135 | NFP |
| Transfinder Corporation | $0 | $72,196 | 125 | Gallagher |
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 Schenectady employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| Marshall & Sterling Employee Benefi | $233,601 | 3 |
| NFP | $210,833 | 2 |
| Lockton | $161,566 | 1 |
| Rocco Mancini | $137,617 | 1 |
| Gallagher | $124,040 | 3 |
| Marshall & Sterling Inc | $88,086 | 3 |
| Topbenefits | $86,912 | 1 |
| Haylor Freyer & Coon, Inc. | $80,690 | 1 |
| Brown & Brown | $57,987 | 1 |
| Fna Insurance Services Inc | $35,533 | 3 |
Largest medical carriers
Medical premium written for these employers.
Schenectady against New York 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.
| Schenectady | New York | United States | |
|---|---|---|---|
| Employer plans | 18 | 3,508 | 58,547 |
| Median commission rate | n/a | 3.7% | 3.8% |
| Middle half of rates | n/a | 2.9% – 4.3% | 2.7% – 5.0% |
| Median broker pay per employer | $65,506 | $85,893 | $72,628 |
| Medical premium per covered person | n/a | $10,907 | $7,274 |
| Plans reporting no commission | 0 | 28 | 933 |
Year over year. In plan year 2023, 19 Schenectady employers reported $25,583 in premiums and $1.3M in broker pay for 29,799 participants; in 2024 it was $23,148 and $1.3M for 28,133 participants (premiums −9.5%, broker pay −1.9%).
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 Schenectady employers pay health insurance brokers?
18 Schenectady employers reported $1,289,627 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 Schenectady reported premium to compute a stable commission rate; the New York median is 3.7% and the U.S. median is 3.8%. In dollars, the median Schenectady employer that disclosed broker pay reported $65,506.
Which Schenectady employers have the largest health plans?
By insurance premium reported for 2024, Project P Holdings, LLC ($23,148), Ellis Hospital ($0), Momentive Performance Materials Inc. ($0) lead. 18 Schenectady employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Schenectady?
By compensation reported by Schenectady employers, the largest brokers are Marshall & Sterling Employee Benefi ($233,601, 3 plans), NFP ($210,833, 2 plans), Lockton ($161,566, 1 plans). By medical premium, the largest carriers are Capital District Physician's Health Plan Inc., Anthem Blue Cross (g1921), Cigna Health and Life Insurance Company.
Are Schenectady employer health plans self-funded or fully insured?
Of 18 Schenectady employer plans, 3 are fully insured, 8 are self-funded and 7 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 York
Is your company on this page? Get its Form 5500 read next to the Schenectady, New York 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.