Philips North America LLC
Updated Filing received by DOL
Philips North America LLC, a manufacturing — metal, equipment, transportation employer in Cambridge, Massachusetts, reported 17,347 participants in its health and welfare plans for plan year 2024. Its Form 5500 shows $3.1M in insurance premiums across 24 contracts and $1.2M in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on October 15, 2025, within the extension window.
Who was paid on Philips North America LLC's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Philips North America LLC filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| EPIC Insurance Brokers · Atlanta, GA | $816,606 | $42,467 | $859,073 | 15 |
| Manning Jerry · Chicago, IL | $210,891 | $0 | $210,891 | 1 |
| Ltci Partners, LLC · Round Lake Beach, IL | $85,408 | $0 | $85,408 | 1 |
| BSC Agency LLC · West Des Moines, IA | $0 | $40,955 | $40,955 | 3 |
| Businessolver Com Inc · Minneapolis, MN | $0 | $19,844 | $19,844 | 2 |
| Img · Indianapolis, IN | $0 | $3,768 | $3,768 | 2 |
| Integro USA Inc d/b/a Integro Insur · Atlanta, GA | $229 | $0 | $229 | 1 |
| Marsh McLennan Agency · Conshohocken, PA | $54 | $0 | $54 | 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.
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 Philips North America LLC 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.
Premium per covered person on medical contracts: $15,290 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 | 19,424 | 17,347 | −10.7% |
| Premiums filed | $3,427,094 | $3,141,245 | not comparable |
| Broker commissions + fees | $1,281,162 | $1,220,222 | −4.8% |
| 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 |
|---|---|---|---|---|
| Philips North America Group Welfare Benefit Plan#501 · insurance, general assets | December 31, 2024 | October 15, 2025 | within extension | 17,347 |
| Philips North America Welfare Benefit Plan for Retirees#502 · insurance, general assets | December 31, 2024 | October 15, 2025 | within extension | 1,292 |
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 Philips North America LLC pay in health insurance broker commissions in 2024?
Philips North America LLC's 2024 Form 5500 reports $1,220,222 in broker commissions and fees across 24 insurance contracts ($1,113,188 in commissions, $107,034 in fees), with EPIC Insurance Brokers receiving the largest share.
Is Philips North America LLC'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 Triple S Salud, Inc., Kaiser Foundation Health Plan, Inc. (california), Kaiser Foundation Health Plan of Georgia, Inc..
How does Philips North America LLC's broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Philips North America LLC 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.