Raymond James Financial, Inc.
Updated Filing received by DOL
Raymond James Financial, Inc., a finance & insurance employer in ST. Petersburg, Florida, reported 15,653 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $101,514 in insurance premiums across 16 contracts and $1.3M in broker commissions and fees, 0.0% 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 November 3, 2025, within the extension window.
Who was paid on Raymond James Financial, 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 Raymond James Financial, Inc. filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Mercer · Chicago, IL | $1,076,286 | $223,634 | $1,299,920 | 10 |
| MMG Agency, Inc. · Staten Island, NY | $8,465 | $0 | $8,465 | 1 |
| Alliant Insurance Services · San Diego, CA | $0 | $8,465 | $8,465 | 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.
| Carrier · coverage | Covered | Premium | Broker pay | Rate |
|---|---|---|---|---|
| Netcare Life & Health Insurancehealth, life, prescription drug | 12 | $101,514 | — | — |
| Arag Insurance Companycoverage not coded | 5,086 | — | $49,220 | — |
| Compsychcoverage not coded | 15,934 | — | — | — |
| Fidelity Security Life Insurance Companyvision | 24,138 | — | — | — |
| Fidelity Security Life Insurance Companyvision | 201 | — | — | — |
| Hawaii Medical Service Associationhealth, dental, vision, prescription drug | 38 | — | — | — |
| Provident Life and Accident Insurance Companycoverage not coded | 606 | — | $446,677 | — |
| Provident Life and Casualty Insurance Companycoverage not coded | 41 | — | $28,700 | — |
| Provident Life and Accident Insurance Companycoverage not coded | 28 | — | $24,684 | — |
| Unum Life Insurance Company of Americacoverage not coded | 553 | — | $30,715 | — |
| Unum Life Insurance Company of Americalife, long-term disability | 15,884 | — | $182,051 | — |
| Unum Insurance Companycoverage not coded | 2,358 | — | $111,563 | — |
| Federal Insurance Companycoverage not coded | 15,889 | — | $16,930 | — |
| Unum Insurance Companycoverage not coded | 3,693 | — | $368,845 | — |
| Unum Life Insurance Company of Americashort-term disability | 219 | — | $758 | — |
| Unum Life Insurance Company of Americacoverage not coded | 3,998 | — | $56,707 | — |
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 Raymond James Financial, 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: $8,460 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 | 14,417 | 15,653 | +8.6% |
| Premiums filed | $90,066 | $101,514 | +12.7% |
| Broker commissions + fees | $1,323,698 | $1,316,850 | −0.5% |
| Commission rate | — | 0.0% | — |
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 |
|---|---|---|---|---|
| Raymond James Financial, Inc. Welfare Plan#503 · insurance, general assets | March 31, 2025 | November 3, 2025 | within extension | 15,653 |
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 Raymond James Financial, Inc. pay in health insurance broker commissions in 2024?
Raymond James Financial, Inc.'s 2024 Form 5500 reports $1,316,850 in broker commissions and fees across 16 insurance contracts ($1,084,751 in commissions, $232,099 in fees), with Mercer receiving the largest share.
Is Raymond James Financial, 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 Netcare Life & Health Insurance, Hawaii Medical Service Association.
How does Raymond James Financial, Inc.'s broker compensation compare with similar employers?
Raymond James Financial, Inc. paid 0.0% of medical premium in commissions and fees. The median for employers with 5,000+ participants is 4.8%, and the median in Florida is 4.6%. 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.