Retail Capital LLC dba Credibly
Updated Filing received by DOL
Retail Capital LLC dba Credibly, a finance & insurance employer in Southfield, Michigan, reported 178 participants in its health and welfare plan for plan year 2025. Its Form 5500 shows $1.4M in insurance premiums across 6 contracts and $58,711 in broker commissions and fees, 3.5% 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 June 11, 2026, before the deadline.
Who was paid on Retail Capital LLC dba Credibly's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Retail Capital LLC dba Credibly filed for 2025.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Christopher M Bouschet · Troy, MI | $26,756 | $0 | $26,756 | 2 |
| Rebecca a McLaughlan · Troy, MI | $19,926 | $0 | $19,926 | 2 |
| Marsh McLennan Agency · Troy, MI | $6,751 | $4,908 | $11,659 | 6 |
| Shaun M Klug · Canton, MI | $118 | $10 | $128 | 1 |
| Gabriel G Torrez · Bingham Farms, MI | $59 | $44 | $103 | 1 |
| Melanie S Terrian · Ypsilanti, MI | $42 | $0 | $42 | 1 |
| Wilson, Ralph Agency Inc. · Southfield, MI | $35 | $0 | $35 | 1 |
| Richard J Moeller · Saint Clair Shores, MI | $27 | $0 | $27 | 1 |
| Jeannette Sue Foksinski · Detroit, MI | $20 | $0 | $20 | 1 |
| Greg a Gould · Dexter, MI | $11 | $0 | $11 | 1 |
| Alan W Bergmann · The Villages, FL | $4 | $0 | $4 | 1 |
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 |
|---|---|---|---|---|
| Blue Care Network of Michiganhealth, prescription drug, HMO | 174 | $916,787 | $30,162 | 3.3% |
| Blue Cross Blue Shield of Michiganhealth, dental, vision, prescription drug, PPO | 217 | $520,690 | $19,854 | 3.8% |
| Aflaccoverage not coded | 4 | — | $541 | — |
| Lincoln National Life Insurance Companyshort-term disability | 185 | — | $3,254 | — |
| Lincoln National Life Insurance Companylife | 184 | — | $1,577 | — |
| Lincoln National Life Insurance Companylife | 84 | — | $3,323 | — |
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 Retail Capital LLC dba Credibly 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: $3,676 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
| 2024 | 2025 | Change | |
|---|---|---|---|
| Participants | 179 | 178 | −0.6% |
| Premiums filed | $1,088,258 | $1,437,477 | +32.1% |
| Broker commissions + fees | $42,895 | $58,711 | +36.9% |
| Commission rate | 3.1% | 3.5% | +0.3 pts |
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 |
|---|---|---|---|---|
| Retail Capital LLC dba Credibly Credibly Benefit Plan#501 · insurance, general assets | December 31, 2025 | June 11, 2026 | before deadline | 178 |
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 Retail Capital LLC dba Credibly pay in health insurance broker commissions in 2025?
Retail Capital LLC dba Credibly's 2025 Form 5500 reports $58,711 in broker commissions and fees across 6 insurance contracts ($53,749 in commissions, $4,962 in fees), with Christopher M Bouschet receiving the largest share.
Is Retail Capital LLC dba Credibly'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 Blue Care Network of Michigan, Blue Cross Blue Shield of Michigan.
How does Retail Capital LLC dba Credibly's broker compensation compare with similar employers?
Retail Capital LLC dba Credibly paid 3.5% of medical premium in commissions and fees. The median for employers with 100-199 participants is 4.2%, and the median in Michigan is 3.2%. Percentages are computed only on fully insured medical contracts with filed premiums.
Send the full findings to your inbox.
A specialist writes up every finding for Retail Capital LLC dba Credibly with the methodology and public-source citations, in a form you can forward to your CFO or counsel. Tick the box if you also want a 15-minute walkthrough call.
We don't sell your email. By submitting, you agree that BenefitsLedger and its benefits advisory partner, WellthCare, may email or call you about these findings. Opt out anytime by replying. See our privacy policy.
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.