Sioux Falls, South Dakota employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
68 employers in Sioux Falls, South Dakota filed health plans with 100 or more participants for plan year 2024, covering 28,912 participants. They reported $19M in insurance premiums and $3.5M in broker commissions and fees. Against 2023, premiums were down 38.1% and broker pay rose 16.3%.
Funding: 22 fully insured · 19 self-funded · 27 mixed. 46 of 68 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Sioux Falls
Sioux Falls employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Billion Motors, Inc. | $7,078,685 | — | 773 | — |
| Sioux Falls Ford Inc | $2,393,155 | $39,125 | 364 | Gis Benefits Inc |
| Vern Eide Motorcars, Inc. | $2,261,355 | $14,663 | 375 | Marsh McLennan Agency |
| Dakotabilities, Inc. | $1,888,068 | $10,482 | 255 | HUB International |
| Southeastern Behavioral Healthcare | $1,479,659 | $22,865 | 129 | Marsh McLennan Agency |
| South Dakota Innovation Partners, LLC | $1,043,387 | $49,419 | 137 | USI Insurance Services |
| Volunteers of America, Dakotas | $748,338 | $21,013 | 243 | Hays Companies |
| Journey Group Companies | $715,550 | $49,194 | 214 | Dan Larock |
| Avera Heart Hospital of South Dakota LLC | $551,569 | $138,019 | 497 | Marsh McLennan Agency |
| Rummel Memorial Home, Inc. | $319,253 | $4,625 | 131 | Marsh McLennan Agency |
| Diamond Mowers, LLC | $244,413 | $293,815 | 142 | Holmes Murphy |
| The First National Bank in Sioux Falls | $193,206 | $44,590 | 269 | Marsh McLennan Agency |
| Lloyd Companies | $190,423 | $2,334 | 342 | Holmes Murphy |
| Sioux Falls Tower Specialists Inc | $123,849 | $100,417 | 164 | NFP |
| T Graham Companies | $100,739 | $10,794 | 268 | Premier Benefit Advisors Inc |
| Sonifi Solutions, Inc. | $66,981 | $102,783 | 621 | Holmes Murphy |
| Sanford School of Medicine of the University of SD Residency Corporati | $15,863 | $8,256 | 128 | Ama Ins Agency Inc |
| Poet, LLC | $0 | $136,173 | 2,305 | HUB International |
| Midland National Life Insurance Company | $0 | $4,691 | 1,988 | Lockton |
| Poet Holding Company, LLC | $0 | — | 1,898 | — |
| First Premier Bank | $0 | $426,687 | 1,848 | Marsh McLennan Agency |
| C & B Operations, LLC | $0 | $77,326 | 1,247 | USI Insurance Services |
| Pathward, National Association | $0 | $205,641 | 1,192 | USI Insurance Services |
| Regency Inns Management, Inc. | $0 | $174,039 | 1,027 | The Hays Group Inc. |
| Furniture Mart USA, Inc. | $0 | $70,466 | 869 | Marsh McLennan Agency |
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 Sioux Falls employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| Marsh McLennan Agency | $1,045,321 | 20 |
| USI Insurance Services | $340,858 | 5 |
| HUB International | $285,880 | 7 |
| Holmes Murphy | $264,391 | 9 |
| Howalt McDowell Insurance | $134,257 | 8 |
| Gis Benefits Inc | $131,100 | 7 |
| NFP | $100,417 | 1 |
| The Hays Group Inc | $88,487 | 1 |
| Willis Towers Watson | $51,393 | 1 |
| Boon Chapman Benefit Administrators | $50,234 | 2 |
Largest medical carriers
Medical premium written for these employers.
Sioux Falls against South Dakota 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.
| Sioux Falls | South Dakota | United States | |
|---|---|---|---|
| Employer plans | 68 | 164 | 58,547 |
| Median commission rate | n/a | 1.6% | 3.8% |
| Middle half of rates | n/a | 1.3% – 2.3% | 2.7% – 5.0% |
| Median broker pay per employer | $33,070 | $35,673 | $72,628 |
| Medical premium per covered person | n/a | $9,660 | $7,274 |
| Plans reporting no commission | 4 | 11 | 933 |
Year over year. In plan year 2023, 69 Sioux Falls employers reported $31M in premiums and $3.0M in broker pay for 26,305 participants; in 2024 it was $19M and $3.5M for 28,912 participants (premiums −38.1%, broker pay +16.3%).
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 Sioux Falls employers pay health insurance brokers?
68 Sioux Falls employers reported $3,506,702 in broker commissions and fees on their 2024 Form 5500 filings, 62 of them disclosing at least some compensation. Too few fully insured medical plans in Sioux Falls reported premium to compute a stable commission rate; the South Dakota median is 1.6% and the U.S. median is 3.8%. In dollars, the median Sioux Falls employer that disclosed broker pay reported $33,070.
Which Sioux Falls employers have the largest health plans?
By insurance premium reported for 2024, Billion Motors, Inc. ($7.1M), Sioux Falls Ford Inc ($2.4M), Vern Eide Motorcars, Inc. ($2.3M) lead. 25 Sioux Falls employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Sioux Falls?
By compensation reported by Sioux Falls employers, the largest brokers are Marsh McLennan Agency ($1.0M, 20 plans), USI Insurance Services ($340,858, 5 plans), HUB International ($285,880, 7 plans). By medical premium, the largest carriers are Avera Health Plans, Inc., Wellmark Blue Cross and Blue Shield of South Dakota, Motivhealth.
Are Sioux Falls employer health plans self-funded or fully insured?
Of 68 Sioux Falls employer plans, 22 are fully insured, 19 are self-funded and 27 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 South Dakota
Is your company on this page? Get its Form 5500 read next to the Sioux Falls, South Dakota 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.