Richmond, Virginia employer health plans: what they cost and who gets paid
Updated plan year 2024, the most recent complete year
123 employers in Richmond, Virginia filed health plans with 100 or more participants for plan year 2024, covering 202,797 participants. They reported $41M in insurance premiums and $12M in broker commissions and fees. Against 2023, premiums were up 3.6% and broker pay fell 1.3%.
Funding: 16 fully insured · 62 self-funded · 45 mixed. 107 of 123 plans pay at least some medical claims from the employer's own assets.
Largest employer health plans in Richmond
Richmond employers reporting the most insurance premium across every Schedule A contract, with what they paid brokers.
| Employer | Premiums | Broker pay | Participants | Top broker |
|---|---|---|---|---|
| Altria Client Services LLC | $14,820,761 | — | 10,520 | — |
| Estes Express Lines | $8,305,563 | — | 20,388 | — |
| GPM Investments, LLC | $2,720,871 | $306,435 | 3,373 | USI Insurance Services |
| Browngreer, PLC | $2,462,833 | $122,221 | 280 | USI Insurance Services |
| Virginia Federal Credit Union | $1,952,913 | $196,274 | 1,062 | Marsh McLennan Agency |
| Hunton Andrews Kurth LLP | $1,288,200 | $232,799 | 1,473 | Marsh McLennan Agency |
| James River Management Company | $1,186,274 | $108,124 | 664 | Marsh McLennan Agency |
| MD Value Care Benefits Consortium | $1,100,055 | $43,354 | 1,973 | Marsh McLennan Agency |
| Newmarket Corporation and Affiliates | $842,354 | $72,326 | 1,498 | Willis Towers Watson |
| University of Richmond | $828,405 | $92,217 | 2,097 | Marsh McLennan Agency |
| Tuckahoe Holdings, LLC | $656,155 | $403,245 | 2,185 | James a Scott & Son Inc |
| Atlantic Constructors, Inc. | $631,800 | $112,790 | 794 | Marsh McLennan Agency |
| McGuirewoods LLP | $407,508 | $189,569 | 2,274 | Scott Benefit Services |
| National Counseling Group, Inc. | $353,020 | $154,621 | 1,051 | James a Scott & Son Inc |
| Southern States Cooperative, Inc. | $329,538 | — | 641 | — |
| Weidmuller, Inc. | $320,543 | $72,448 | 194 | Marsh McLennan Agency |
| Hourigan Construction Corp. | $242,399 | $54,546 | 221 | Gallagher |
| Elephant Insurance Services, LLC | $240,164 | $48,064 | 521 | Alliant Insurance Services |
| Eagle Fire Inc. | $232,101 | $49,484 | 302 | Brown & Noyes, LLC |
| Avepoint Public Sector Inc. | $200,263 | $144,983 | 307 | NFP |
| The Pearson Companies, Inc. | $182,648 | $63,533 | 337 | Managed Benefits, Inc. |
| Goodwill of Central and Coastal Virginia, Inc. | $175,438 | $61,363 | 907 | Gallagher |
| Luck Stone Corporation | $172,643 | $171,383 | 989 | Alliant Insurance Services |
| The Virginia Home | $149,774 | $30,028 | 297 | USI Insurance Services |
| Mediko, Inc. | $139,700 | $128,110 | 201 | James a Scott & Son Inc |
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 Richmond employers, with the number of employer plans naming each broker.
| Broker | Commissions + fees | Plans |
|---|---|---|
| Marsh McLennan Agency | $2,610,910 | 31 |
| USI Insurance Services | $1,321,591 | 15 |
| Alliant Insurance Services | $1,223,990 | 7 |
| Willis Towers Watson | $945,009 | 6 |
| James a Scott & Son Inc | $886,441 | 15 |
| Acrisure | $614,599 | 2 |
| Mercer | $573,741 | 8 |
| OneDigital | $341,126 | 8 |
| Sedgwick Claims Management Services | $333,654 | 1 |
| Managed Benefits Inc | $296,671 | 3 |
Largest medical carriers
Medical premium written for these employers.
Richmond against Virginia 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.
| Richmond | Virginia | United States | |
|---|---|---|---|
| Employer plans | 123 | 1,613 | 58,547 |
| Median commission rate | n/a | 4.6% | 3.8% |
| Middle half of rates | n/a | 3.2% – 6.4% | 2.7% – 5.0% |
| Median broker pay per employer | $64,791 | $71,889 | $72,628 |
| Medical premium per covered person | n/a | $6,864 | $7,274 |
| Plans reporting no commission | 0 | 5 | 933 |
Year over year. In plan year 2023, 130 Richmond employers reported $40M in premiums and $12M in broker pay for 196,870 participants; in 2024 it was $41M and $12M for 202,797 participants (premiums +3.6%, broker pay −1.3%).
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 Richmond employers pay health insurance brokers?
123 Richmond employers reported $12,132,277 in broker commissions and fees on their 2024 Form 5500 filings, 114 of them disclosing at least some compensation. Too few fully insured medical plans in Richmond reported premium to compute a stable commission rate; the Virginia median is 4.6% and the U.S. median is 3.8%. In dollars, the median Richmond employer that disclosed broker pay reported $64,791.
Which Richmond employers have the largest health plans?
By insurance premium reported for 2024, Altria Client Services LLC ($15M), Estes Express Lines ($8.3M), GPM Investments, LLC ($2.7M) lead. 25 Richmond employers are listed on this page; every employer in the record has its own page.
Which brokers and carriers are paid the most in Richmond?
By compensation reported by Richmond employers, the largest brokers are Marsh McLennan Agency ($2.6M, 31 plans), USI Insurance Services ($1.3M, 15 plans), Alliant Insurance Services ($1.2M, 7 plans). By medical premium, the largest carriers are Cigna Health and Life Insurance Company, Anthem Health Plans of Virginia dba Anthem BCBS, Healthkeepers, Inc..
Are Richmond employer health plans self-funded or fully insured?
Of 123 Richmond employer plans, 16 are fully insured, 62 are self-funded and 45 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 Virginia
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