Sage Therapeutics, Inc.
Updated Filing received by DOL
Sage Therapeutics, Inc., a professional & technical services employer in Cambridge, Massachusetts, reported 536 participants in its health and welfare plan for plan year 2025. Its Form 5500 shows $6.0M in insurance premiums across 6 contracts and $155,343 in broker commissions and fees, 2.3% 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 February 25, 2026, before the deadline.
Who was paid on Sage Therapeutics, 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 Sage Therapeutics, Inc. filed for 2025.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Marsh McLennan Agency | $103,715 | $51,628 | $155,343 | 6 |
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 Cross Blue Shield of Massachusetts, Inc.health, dental, prescription drug | 1,484 | $6.0M | $138,108 | 2.3% |
| Reliance Standard Life Insurance Companyshort-term disability | 15 | — | $1,193 | — |
| Reliance Standard Life Insurance Companylife | 351 | — | $4,113 | — |
| Reliance Standard Life Insurance Companylong-term disability | 351 | — | $5,312 | — |
| Reliance Standard Life Insurance Companylife | 116 | — | $5,688 | — |
| Vision Service Planvision | 342 | — | $929 | — |
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 Sage Therapeutics, 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: $4,031 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 | 611 | 536 | −12.3% |
| Premiums filed | $10,606,240 | $5,982,410 | −43.6% |
| Broker commissions + fees | $212,792 | $155,343 | −27.0% |
| Commission rate | 1.8% | 2.3% | +0.6 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 |
|---|---|---|---|---|
| Sage Therapeutics, Inc. Employee Benefits Plan#501 · final filing · insurance, general assets | August 31, 2025 | February 25, 2026 | before deadline | 536 |
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 Sage Therapeutics, Inc. pay in health insurance broker commissions in 2025?
Sage Therapeutics, Inc.'s 2025 Form 5500 reports $155,343 in broker commissions and fees across 6 insurance contracts ($103,715 in commissions, $51,628 in fees), with Marsh McLennan Agency receiving the largest share.
Is Sage Therapeutics, Inc.'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 Cross Blue Shield of Massachusetts, Inc..
How does Sage Therapeutics, Inc.'s broker compensation compare with similar employers?
Sage Therapeutics, Inc. paid 2.3% of medical premium in commissions and fees. The median for employers with 500-999 participants is 2.7%, 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.