Bancfirst
Updated Filing received by DOL
Bancfirst, a finance & insurance employer in Oklahoma City, Oklahoma, reported 1,557 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $16M in insurance premiums across 8 contracts and $340,602 in broker commissions and fees, 0.4% of medical premium against a national median of 3.8% among plans that paid commissions in plan year 2024. The plan is a mix of insured and self-funded coverage. The Department of Labor received an amended filing on November 4, 2025; the original filing date is not in the public dataset.
Who was paid on Bancfirst's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Bancfirst filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Bancfirst Insurance Services, Inc. · Tulsa, OK | $156,464 | $18,679 | $175,143 | 4 |
| Marsh McLennan Agency · Dallas, TX | $65,623 | $0 | $65,623 | 1 |
| Bancfirst Ins Services Inc · Tulsa, OK | $51,453 | $7,303 | $58,756 | 2 |
| Banfirst Insurance Services Inc · Tulsa, OK | $25,974 | $6,207 | $32,181 | 1 |
| William D Staedke · Broken Arrow, OK | $7,194 | $471 | $7,665 | 1 |
| Kelly Pugh · Broken Arrow, OK | $1,091 | $127 | $1,218 | 1 |
| Ashley Renee Cunningham · Edmond, OK | $8 | $0 | $8 | 1 |
| Benefit Consultants PA · Clinton, MS | $3 | $0 | $3 | 1 |
| Shannon Marie Baldwin · Bixby, OK | $3 | $0 | $3 | 1 |
| Robbins Research and Planning Inc · Oxford, MS | $1 | $0 | $1 | 1 |
| Zachary Paul Kilpatrick · Valley View, TX | $1 | $0 | $1 | 1 |
Source: DOL Form 5500 Schedule A, Part I (broker commissions and fees), plan year 2024, as published in EBSA's 2024 "Latest" dataset. Part I names whoever the carrier paid, which can be a firm or an individual agent; both are public record. Amounts exclude pay from carriers not tied to a listed contract.
Insurance contracts and carriers
Every insurance contract reported on Schedule A: carrier, what it covers, people covered at year end, earned premium, and broker compensation.
| Carrier · coverage | Covered | Premium | Broker pay | Rate |
|---|---|---|---|---|
| Blue Cross Blue Shield of Oklahomahealth, dental, stop-loss | 3,058 | $16M | $65,623 | 0.4% |
| Vision Service Planvision | 1,502 | — | $11,875 | — |
| United of Omaha Life Insurance Co.life | 2,024 | — | $32,181 | — |
| United of Omaha Life Insurance Colong-term disability | 2,024 | — | $48,441 | — |
| United of Omaha Life Insurance Colife | 889 | — | $90,360 | — |
| Colonial Life & Accident Insurance Companycoverage not coded | 562 | — | $33,366 | — |
| United of Omaha Life Insurance Coshort-term disability | 727 | — | $52,097 | — |
| United of Omaha Life Insurance Coshort-term disability | 217 | — | $6,659 | — |
Source: DOL Form 5500 Schedule A, plan year 2024. Self-funded medical coverage has no premium; amounts shown for it are stop-loss or administrative contracts.
How Bancfirst compares
Medians across employers for plan year 2024, the most recent complete year. Commission rates use fully insured medical contracts only; dollar medians use every employer that disclosed broker pay.
Premium per covered person on medical contracts: $5,267 a year (national median $7,274).
Source: BenefitsLedger benchmarks from 58,547 employer health plans with 100 or more participants, plan year 2024. Methodology.
Year over year
| 2023 | 2024 | Change | |
|---|---|---|---|
| Participants | 1,548 | 1,557 | +0.6% |
| Premiums filed | $15,446,108 | $16,105,580 | +4.3% |
| Broker commissions + fees | $297,703 | $340,602 | +14.4% |
| Commission rate | 0.4% | 0.4% | +0.0 pts |
Source: DOL Form 5500 filings for plan years 2023 and 2024.
Filings and timeliness
Plans this employer filed under its EIN with a health benefit code. Large plans are due seven months after the plan year ends, or two and a half months later with an extension; amended filings carry the amendment date, so no timing is asserted for them.
| Plan | Plan year end | Received by DOL | Timing | Participants |
|---|---|---|---|---|
| Bancfirst Corporation Employees' Benefit Trust#501 · amended · insurance, trust | December 31, 2024 | November 4, 2025 | amended filing; original date not in data | 1,557 |
Source: DOL Form 5500 Part I and signature dates; "late" means received after the extended deadline (the 15th day of the tenth month after plan year end). What a late Form 5500 costs.
How much did Bancfirst pay in health insurance broker commissions in 2024?
Bancfirst's 2024 Form 5500 reports $340,602 in broker commissions and fees across 8 insurance contracts ($307,815 in commissions, $32,787 in fees), with Bancfirst Insurance Services, Inc. receiving the largest share.
Is Bancfirst's health plan self-funded or fully insured?
The 2024 filing indicates the plan is a mix of insured and self-funded coverage. Medical coverage is written by Blue Cross Blue Shield of Oklahoma.
How does Bancfirst's broker compensation compare with similar employers?
Bancfirst paid 0.4% of medical premium in commissions and fees. The median for employers with 1,000-4,999 participants is 2.0%, and the median in Oklahoma is 1.6%. Percentages are computed only on fully insured medical contracts with filed premiums.
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Record built October 24, 2026 from U.S. Department of Labor, EBSA Form 5500 datasets (2025, 2024, 2023 plan years, 'Latest' files). Filings can run 7 to 10 months behind the plan year; always confirm against current plan documents. BenefitsLedger is not affiliated with the U.S. Department of Labor. Open the DOL filing search.