First Business Financial Services, Inc.
Updated Filing received by DOL
First Business Financial Services, Inc., a finance & insurance employer in Madison, Wisconsin, reported 347 participants in its health and welfare plans for plan year 2025. Its Form 5500 shows $769,562 in insurance premiums across 8 contracts and $165,336 in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on June 17, 2026, before the deadline.
Who was paid on First Business Financial Services, Inc.'s plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract First Business Financial Services, Inc. filed for 2025.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| W B a - Employee Benefits Corp · Madison, WI | $17,669 | $0 | $17,669 | 1 |
| M3 Insurance · Madison, WI | $4,504 | $4,951 | $9,455 | 1 |
| Wba-Employee Benefit Corp · Madison, WI | $4,682 | $0 | $4,682 | 1 |
| C2 Centric LLC · Grand Rapids, MI | $0 | $1,079 | $1,079 | 4 |
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 |
|---|---|---|---|---|
| Delta Dental of Wisconsindental | 326 | $345,371 | $17,669 | 5.1% |
| Standard Insurance Companylife | 364 | $157,073 | $6,030 | 3.8% |
| Standard Insurance Companyshort-term disability | 368 | $139,407 | $9,785 | 7.0% |
| Standard Insurance Companylong-term disability | 368 | $127,711 | $10,164 | 8.0% |
| Metropolitan Life Insurance Companyvision | 1,018 | — | $4,682 | — |
| Standard Insurance Companycoverage not coded | 55 | — | $7,788 | — |
| Quartz Health Benefit Plans Corporationhealth, prescription drug, HMO, PPO | 316 | — | $32,586 | — |
| Unitedhealthcare Insurance Companyhealth | 294 | — | $76,632 | — |
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 First Business Financial Services, Inc. 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 | 345 | 347 | +0.6% |
| Premiums filed | $722,766 | $769,562 | not comparable |
| Broker commissions + fees | $144,632 | $165,336 | +14.3% |
| 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 |
|---|---|---|---|---|
| First Business Financial Services, Inc Employee Benefits Plan#503 · insurance | December 31, 2025 | June 17, 2026 | before deadline | 347 |
| First Business Financial Services Inc. 125 Benefit Plan#504 · general assets | December 31, 2025 | June 17, 2026 | before deadline | 115 |
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 First Business Financial Services, Inc. pay in health insurance broker commissions in 2025?
First Business Financial Services, Inc.'s 2025 Form 5500 reports $165,336 in broker commissions and fees across 8 insurance contracts ($71,434 in commissions, $93,902 in fees), with W B a - Employee Benefits Corp receiving the largest share.
Is First Business Financial Services, Inc.'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 Quartz Health Benefit Plans Corporation, Unitedhealthcare Insurance Company.
How does First Business Financial Services, Inc.'s broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for First Business Financial Services, Inc. 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.