Hormel Foods Corporation
Updated Filing received by DOL
Hormel Foods Corporation, a manufacturing — food & textile employer in Austin, Minnesota, reported 21,629 participants in its health and welfare plans for plan year 2024. Its Form 5500 shows 5 insurance contracts with no premium reported and $653,889 in broker commissions and fees. The plan is self-funded (the employer pays claims itself). The Department of Labor received the filing on July 20, 2026, within the extension window.
Who was paid on Hormel Foods Corporation's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Hormel Foods Corporation filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Strategic Non-Medical Solutions LLC · Boston, MA | $242,620 | $266,656 | $509,276 | 3 |
| Brown & Brown · Minneapolis, MN | $78,819 | $108 | $78,927 | 5 |
| Bene Re LLC · Toledo, OH | $0 | $62,054 | $62,054 | 1 |
| Hays Companies · Minneapolis, MN | $2,972 | $660 | $3,632 | 3 |
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 |
|---|---|---|---|---|
| Metropolitan Life Insurance Companylong-term disability | 14,481 | — | $156,133 | — |
| Metropolitan Life Insurance Companylife | 35,182 | — | $340,162 | — |
| Metropolitan Life Insurance Companylife | 3,224 | — | $12,981 | — |
| Reliastar Life Insurance Companycoverage not coded | 6,214 | — | $134,450 | — |
| Metropolitan General Insurance Companycoverage not coded | 452 | — | $10,163 | — |
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 Hormel Foods Corporation 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
| 2023 | 2024 | Change | |
|---|---|---|---|
| Participants | 26,513 | 21,629 | −18.4% |
| Premiums filed | $0 | $0 | — |
| Broker commissions + fees | $202,467 | $653,889 | +223.0% |
| Commission rate | — | — | — |
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 |
|---|---|---|---|---|
| Hormel Foods Corporation Comprehensive Welfare Benefit Plan#503 · insurance, general assets | October 26, 2025 | July 20, 2026 | within extension | 21,629 |
| Hormel Foods Corporation Retiree Health Care Plan#514 · general assets | October 26, 2025 | July 20, 2026 | within extension | 1,049 |
| Hormel Foods Corporation Retiree Health Care Plan for Bargaining Unit Employees#515 · general assets | October 26, 2025 | July 20, 2026 | within extension | 250 |
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 Hormel Foods Corporation pay in health insurance broker commissions in 2024?
Hormel Foods Corporation's 2024 Form 5500 reports $653,889 in broker commissions and fees across 5 insurance contracts ($324,411 in commissions, $329,478 in fees), with Strategic Non-Medical Solutions LLC receiving the largest share.
Is Hormel Foods Corporation's health plan self-funded or fully insured?
The 2024 filing indicates the plan is self-funded (the employer pays claims itself).
How does Hormel Foods Corporation's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Hormel Foods Corporation because the filing does not report medical premium on Schedule A (usual for self-funded plans). In dollars, employers with 5,000+ participants that disclosed broker pay reported a median of $458,262.
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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.