Magnetic Holdings, LLC dba Permag
Updated Filing received by DOL
Magnetic Holdings, LLC dba Permag, a manufacturing — metal, equipment, transportation employer in Elk Grove Village, Illinois, reported 469 participants in its health and welfare plan for plan year 2025. Its Form 5500 shows 14 insurance contracts with no premium reported and $84,323 in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on September 24, 2026, within the extension window.
Who was paid on Magnetic Holdings, LLC dba Permag's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Magnetic Holdings, LLC dba Permag filed for 2025.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Brown & Brown · Minneapolis, MN | $61,547 | $11,033 | $72,580 | 16 |
| Gis Benefits Inc · Morris, IL | $7,098 | $1,847 | $8,945 | 4 |
| Watchtower Technologies Inc · Chicago, IL | $0 | $2,674 | $2,674 | 4 |
| Watchtower Benefits LLC dba Threefl · Chicago, IL | $123 | $0 | $123 | 1 |
Source: DOL Form 5500 Schedule A, Part I (broker commissions and fees), plan year 2025, as published in EBSA's 2025 "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 |
|---|---|---|---|---|
| Aetna Health, IncHMO | 46 | — | — | — |
| Aetna Life Insurance Co.health | 76 | — | $48,075 | — |
| Curalink LLCcoverage not coded | — | — | — | — |
| Metropolitan Life Insurance Companyhealth | 54 | — | $1,578 | — |
| Metropolitan Life Insurance Companyhealth | 13 | — | $392 | — |
| Metropolitan Life Insurance Companydental, vision, life, short-term disability, long-term disability | 219 | — | $23,882 | — |
| Metropolitan Life Insurance Companyhealth | 14 | — | $393 | — |
| Quest Behavioral Health, Inccoverage not coded | 327 | — | — | — |
| Reliance Standardlife | 281 | — | $3,898 | — |
| Reliance Standardlife | 121 | — | $2,969 | — |
| Reliance Standardlong-term disability | 281 | — | $1,459 | — |
| Reliance Standardcoverage not coded | 113 | — | $1,554 | — |
| Safeguard Health Plans, Inc., a California Corporationdental, HMO | 66 | — | $123 | — |
| Metropolitan Life Insurance Companyvision | 407 | — | — | — |
Source: DOL Form 5500 Schedule A, plan year 2025. Self-funded medical coverage has no premium; amounts shown for it are stop-loss or administrative contracts.
How Magnetic Holdings, LLC dba Permag 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.
Not computable: no insured medical premium on the filing.
Source: BenefitsLedger benchmarks from 58,547 employer health plans with 100 or more participants, plan year 2024. Methodology.
Year over year
| 2024 | 2025 | Change | |
|---|---|---|---|
| Participants | 166 | 469 | +182.5% |
| Premiums filed | $0 | $0 | not comparable |
| Broker commissions + fees | $12,387 | $84,323 | +580.7% |
| Commission rate | — | — | — |
Source: DOL Form 5500 filings for plan years 2024 and 2025.
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 |
|---|---|---|---|---|
| Magnetic Holdings, LLC dba Permag Health and Welfare Benefit Plan#501 · insurance, general assets | December 31, 2025 | September 24, 2026 | within extension | 469 |
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 Magnetic Holdings, LLC dba Permag pay in health insurance broker commissions in 2025?
Magnetic Holdings, LLC dba Permag's 2025 Form 5500 reports $84,323 in broker commissions and fees across 14 insurance contracts ($68,769 in commissions, $15,554 in fees), with Brown & Brown receiving the largest share.
Is Magnetic Holdings, LLC dba Permag's health plan self-funded or fully insured?
The 2025 filing indicates the plan is a mix of insured and self-funded coverage. Medical coverage is written by Aetna Life Insurance Co., Metropolitan Life Insurance Company.
How does Magnetic Holdings, LLC dba Permag's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Magnetic Holdings, LLC dba Permag because the filing does not report medical premium on Schedule A (usual for self-funded plans). In dollars, employers with 200-499 participants that disclosed broker pay reported a median of $77,013.
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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.