Memphis, Tennessee employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
140 employers in Memphis, Tennessee filed health plans with 100 or more participants for plan year 2024, covering 752,744 participants. They reported $68M in insurance premiums and $19M in broker commissions and fees. The median broker rate on commission-paying, fully insured medical plans was 3.9% of premium, against 3.9% across Tennessee and 3.8% nationally. Against 2023, premiums were up 11.0% and broker pay fell 7.2%.
Funding: 38 fully insured · 58 self-funded · 44 mixed. 102 of 140 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Memphis
Memphis employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Autozone, Inc. | $14,229,947 | $2,057,373 | 98,933 | HUB International |
| Ars Acquisition Holdings LLC | $7,624,873 | $79,210 | 5,683 | Mercer |
| Smith and Nephew, Inc. | $4,484,939 | $160,916 | 7,131 | Workday Inc |
| Hyosung Hico, LTD. | $3,653,963 | $316,129 | 330 | Timothy Finnell |
| Memphis Basketball LLC | $3,406,698 | $176,956 | 325 | Amy Leonard |
| Fedex Corporation | $3,388,203 | $1,079,744 | 523,795 | Sammons Company, L.P. |
| Barr Brands International, Inc. | $3,324,482 | $156,860 | 412 | Willis Towers Watson |
| MSK Group, PC | $2,960,839 | $220,639 | 412 | AssuredPartners |
| Anovorx Group, LLC | $2,629,601 | $168,128 | 282 | Brandon Kimbrough |
| Professional Healthcare Management, Inc. | $2,414,793 | $86,542 | 335 | Jennifer Kinley-Lawrence |
| Kemmons Wilson Companies, LLC | $1,773,746 | $113,767 | 225 | John Eichmann |
| Penn a Kem LLC | $1,757,182 | $85,127 | 154 | April Ashburn |
| The Dude Abides | $1,754,159 | $85,682 | 251 | Jonathan Frisch |
| Jit-Ex, LLC | $1,580,608 | $109,980 | 170 | Tyler McGlaughlin |
| Great Neck Tools, Inc. | $1,410,698 | $162,059 | 242 | Reaves Insurance Consultants Inc |
| Crye-Leike, Inc. | $1,337,323 | $64,209 | 279 | Mark Barnes |
| Support Solutions of the Mid-South, LLC | $1,265,227 | $77,650 | 661 | USI Insurance Services |
| Memphis Zoological Society | $1,129,174 | $82,143 | 237 | Jonathan Frisch |
| Frontdoor, Inc. | $951,319 | $40,016 | 1,743 | Lockton |
| Elos Medtech Onyx | $935,258 | $9,534 | 166 | Wendell T Dyson |
| Progressive Technologies | $810,265 | $58,326 | 153 | Jas D Collier and Company |
| Baker, Donelson, Bearman, Caldwell and Berkowitz | $692,003 | $216,395 | 1,230 | Mercer |
| Dufresne Spencer Group Holdings, LLC | $531,977 | $260,300 | 1,645 | Brown & Brown |
| Gossett Motor Cars, Inc. | $486,986 | $89,413 | 461 | Valentine Insurance Services, LLC |
| Ducks Unlimited, Inc | $464,339 | $799,979 | 627 | 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 Memphis employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| HUB International | $1,533,724 | 11 |
| Mercer | $1,315,719 | 8 |
| Marsh McLennan Agency | $1,039,145 | 20 |
| Lockton | $1,023,080 | 9 |
| Hodges-Mace Benefits Group | $727,012 | 2 |
| Higginbotham | $607,235 | 14 |
| Sammons Company, L.P. | $554,467 | 1 |
| Alliant Insurance Services | $537,606 | 3 |
| American Benefits and Compensation | $517,788 | 1 |
| Jas D Collier & Co | $516,677 | 14 |
Largest medical carriers
Medical premium written for these employers.
Memphis against Tennessee 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.
| Memphis | Tennessee | United States | |
|---|---|---|---|
| Employer plans | 140 | 1,276 | 58,547 |
| Median commission rate | 3.9% (16 plans) | 3.9% | 3.8% |
| Middle half of rates | 3.5% – 4.8% | 3.3% – 5.3% | 2.7% – 5.0% |
| Median broker pay per employer | $86,271 | $82,913 | $72,628 |
| Medical premium per covered person | $5,172 | $5,747 | $7,274 |
| Plans reporting no commission | 1 | 13 | 933 |
Year over year. In plan year 2023, 150 Memphis employers reported $61M in premiums and $21M in broker pay for 752,585 participants; in 2024 it was $68M and $19M for 752,744 participants (premiums +11.0%, broker pay −7.2%).
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 Memphis employers pay health insurance brokers?
140 Memphis employers reported $19,156,280 in broker commissions and fees on their 2024 Form 5500 filings, 132 of them disclosing at least some compensation. Among 16 commission-paying, fully insured medical plans, the median broker rate was 3.9% of premium, 0.0 points below the Tennessee median of 3.9% and 0.1 points above the U.S. median of 3.8%. In dollars, the median Memphis employer that disclosed broker pay reported $86,271.
Which Memphis employers have the largest health plans?
By insurance premium reported for 2024, Autozone, Inc. ($14M), Ars Acquisition Holdings LLC ($7.6M), Smith and Nephew, Inc. ($4.5M) lead. 25 Memphis employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Memphis?
By compensation reported by Memphis employers, the largest brokers are HUB International ($1.5M, 11 plans), Mercer ($1.3M, 8 plans), Marsh McLennan Agency ($1.0M, 20 plans). By medical premium, the largest carriers are Bluecross Blueshield of Tennessee, Inc., Cigna Health and Life Insurance Company, Triple S Salud, Inc..
Are Memphis employer health plans self-funded or fully insured?
Of 140 Memphis employer plans, 38 are fully insured, 58 are self-funded and 44 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 Tennessee
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