Marimed Advisors Inc.
Updated Filing received by DOL
Marimed Advisors Inc., a manufacturing — food & textile employer in Newton, Massachusetts, reported 259 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $2.4M in insurance premiums across 6 contracts and $97,180 in broker commissions and fees, 2.7% 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 October 9, 2025, before the deadline.
Who was paid on Marimed Advisors 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 Marimed Advisors Inc. filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Hilb Group of New England · Cranston, RI | $80,094 | $17,086 | $97,180 | 6 |
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 Massachusettshealth | 277 | $2.2M | $59,873 | 2.7% |
| Blue Cross Blue Shield of Massachusettsdental | 302 | $187,449 | $6,046 | 3.2% |
| Blue Cross Blue Shield of Massachusettsvision | 248 | $19,188 | $1,919 | 10.0% |
| Reliance Standard Life Insurance Companylife | 69 | — | $1,644 | — |
| Reliance Standard Life Insurance Companylong-term disability | 264 | — | $14,556 | — |
| Reliance Standard Life Insurance Companyshort-term disability | 478 | — | $13,142 | — |
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 Marimed Advisors 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.
Premium per covered person on medical contracts: $7,884 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 | 431 | 259 | −39.9% |
| Premiums filed | $1,926,601 | $2,390,540 | +24.1% |
| Broker commissions + fees | $82,676 | $97,180 | +17.5% |
| Commission rate | 3.1% | 2.7% | −0.4 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 |
|---|---|---|---|---|
| Marimed Advisors Inc. Employee Benefit Plan#501 · insurance, general assets | March 31, 2025 | October 9, 2025 | before deadline | 259 |
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 Marimed Advisors Inc. pay in health insurance broker commissions in 2024?
Marimed Advisors Inc.'s 2024 Form 5500 reports $97,180 in broker commissions and fees across 6 insurance contracts ($80,094 in commissions, $17,086 in fees), with Hilb Group of New England receiving the largest share.
Is Marimed Advisors Inc.'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.
How does Marimed Advisors Inc.'s broker compensation compare with similar employers?
Marimed Advisors Inc. paid 2.7% 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.