Beam Therapeutics
Updated Filing received by DOL
Beam Therapeutics, a professional & technical services employer in Cambridge, Massachusetts, reported 471 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $7.4M in insurance premiums across 8 contracts and $178,655 in broker commissions and fees, 2.1% 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 the filing on August 4, 2025, within the extension window.
Who was paid on Beam Therapeutics's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Beam Therapeutics filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Marsh McLennan Agency | $135,954 | $38,917 | $174,871 | 6 |
| Barney & Barney · Boston, MA | $3,784 | $0 | $3,784 | 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 Massachusetts, Inc.health, dental, vision, prescription drug | 1,012 | $7.4M | $155,176 | 2.1% |
| Pre-Paid Legal Services Inc dba Legalshieldcoverage not coded | 95 | — | $3,784 | — |
| Reliance Standard Life Insurance Companyshort-term disability | 429 | — | $1,066 | — |
| Reliance Standard Life Insurance Companyshort-term disability | 320 | — | $6,422 | — |
| Reliance Standard Life Insurance Companylife | 430 | — | $2,751 | — |
| Reliance Standard Life Insurance Companylong-term disability | 430 | — | $5,292 | — |
| Reliance Standard Life Insurance Companylife | 190 | — | $4,164 | — |
| Kga, Inccoverage not coded | 455 | — | — | — |
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 Beam Therapeutics 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: $7,292 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 | 499 | 471 | −5.6% |
| Premiums filed | $7,295,141 | $7,379,248 | +1.2% |
| Broker commissions + fees | $169,191 | $178,655 | +5.6% |
| Commission rate | 1.9% | 2.1% | +0.2 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 |
|---|---|---|---|---|
| Beam Therapeutics Employee Benefits Plan#501 · insurance, general assets | December 31, 2024 | August 4, 2025 | within extension | 471 |
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 Beam Therapeutics pay in health insurance broker commissions in 2024?
Beam Therapeutics's 2024 Form 5500 reports $178,655 in broker commissions and fees across 8 insurance contracts ($139,738 in commissions, $38,917 in fees), with Marsh McLennan Agency receiving the largest share.
Is Beam Therapeutics'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 Massachusetts, Inc..
How does Beam Therapeutics's broker compensation compare with similar employers?
Beam Therapeutics paid 2.1% of medical premium in commissions and fees. The median for employers with 200-499 participants is 3.6%, and the median in Massachusetts is 2.5%. 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.