Waco, Texas employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
33 employers in Waco, Texas filed health plans with 100 or more participants for plan year 2024, covering 11,756 participants. They reported $3.1M in insurance premiums and $2.4M in broker commissions and fees. Against 2023, premiums were up 47.2% and broker pay rose 4.1%.
Funding: 14 fully insured · 11 self-funded · 8 mixed. 19 of 33 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Waco
Waco employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Extraco Corporation | $2,226,127 | $24,265 | 433 | Lockton |
| Four Cooks Senior Care, LLC | $837,472 | $113,551 | 100 | Foundation Benefits |
| Dwyer Franchising LLC | $0 | $155,204 | 1,600 | Holmes Murphy |
| Texas Farm Bureau | $0 | $114,942 | 1,490 | Holmes Murphy |
| Time Manufacturing Company | $0 | $267,674 | 960 | Daines Insurance & Financial SVCS. |
| Brazos Electric Power Cooperative, Inc. | $0 | — | 750 | — |
| Dealers Electrical Supply Co. | $0 | $91,564 | 649 | Stealth Partner Group LLC |
| McLennan County Medical Education and Research Foundation | $0 | $64,072 | 646 | Ethos Risk Advisors LLC |
| Heart of Texas Behavioral Network | $0 | $62,674 | 449 | Marsh McLennan Agency |
| Magnolia Personnel Group, LLC | $0 | $136,565 | 420 | Marsh McLennan Agency |
| Jessup Manufactured Housing, LLC | $0 | $102,597 | 373 | Heritage Risk Management |
| Apex Dental Laboratory Group | $0 | $7,078 | 367 | — |
| M. Lipsitz & Co., Inc. | $0 | $14,883 | 299 | Imagine360 |
| Central Texas Iron Works, Inc. | $0 | — | 248 | — |
| Methodist Children's Home | $0 | — | 210 | Insurors of TX General Agency Inc |
| Heart of Texas Goodwill Industries Inc | $0 | $76,420 | 209 | Marsh McLennan Agency |
| Cornerstone Caregiving, LLC | $0 | $124,811 | 192 | Bailey & Associates Financial |
| Texas Life Insurance Company | $0 | $28,217 | 189 | First Financial Capital Corporation |
| Envases Commerce, LLC | $0 | $174,754 | 187 | Gallagher |
| Packless Industries | $0 | $25,410 | 180 | Higginbotham |
| Support Services Group, Inc. | $0 | $8,658 | 173 | Lockton |
| United States Living Assistance Group dba Visiting Angels | $0 | $79,295 | 168 | The Deaton Agency LLC |
| First National Bank of Central Texas | $0 | $49,616 | 161 | The Deaton Agency LLC |
| Naman, Howell, Smith & Lee PLLC | $0 | $198,697 | 141 | Bailey & Associates Financial |
| Hobbs Bonded Fibers Na, LLC | $0 | $17,644 | 140 | NFP |
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 Waco employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| Marsh McLennan Agency | $260,880 | 4 |
| Higginbotham | $246,261 | 5 |
| Daines Insurance & Financial SVCS. | $242,356 | 1 |
| Holmes Murphy | $189,122 | 3 |
| The Bailey Group | $182,168 | 2 |
| Gallagher | $174,734 | 1 |
| The Deaton Agency LLC | $115,823 | 2 |
| Insurors of Texas | $90,966 | 2 |
| Heritage Risk Management | $86,460 | 1 |
| Providence Administrative Services | $70,996 | 1 |
Largest medical carriers
Medical premium written for these employers.
Waco against Texas 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.
| Waco | Texas | United States | |
|---|---|---|---|
| Employer plans | 33 | 4,926 | 58,547 |
| Median commission rate | n/a | 5.6% | 3.8% |
| Middle half of rates | n/a | 2.7% – 6.0% | 2.7% – 5.0% |
| Median broker pay per employer | $75,896 | $86,351 | $72,628 |
| Medical premium per covered person | n/a | $6,089 | $7,274 |
| Plans reporting no commission | 0 | 22 | 933 |
Year over year. In plan year 2023, 31 Waco employers reported $2.1M in premiums and $2.3M in broker pay for 10,788 participants; in 2024 it was $3.1M and $2.4M for 11,756 participants (premiums +47.2%, broker pay +4.1%).
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 Waco employers pay health insurance brokers?
33 Waco employers reported $2,443,064 in broker commissions and fees on their 2024 Form 5500 filings, 29 of them disclosing at least some compensation. Too few fully insured medical plans in Waco reported premium to compute a stable commission rate; the Texas median is 5.6% and the U.S. median is 3.8%. In dollars, the median Waco employer that disclosed broker pay reported $75,896.
Which Waco employers have the largest health plans?
By insurance premium reported for 2024, Extraco Corporation ($2.2M), Four Cooks Senior Care, LLC ($837,472), Dwyer Franchising LLC ($0) lead. 25 Waco employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Waco?
By compensation reported by Waco employers, the largest brokers are Marsh McLennan Agency ($260,880, 4 plans), Higginbotham ($246,261, 5 plans), Daines Insurance & Financial SVCS. ($242,356, 1 plans). By medical premium, the largest carriers are Bluecross Blueshield of Texas, Curative Insurance Company, Aetna Life Insurance Company.
Are Waco employer health plans self-funded or fully insured?
Of 33 Waco employer plans, 14 are fully insured, 11 are self-funded and 8 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 Texas
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