Signet Electronic Systems, Inc.
Updated Filing received by DOL
Signet Electronic Systems, Inc., a wholesale trade employer in Norwell, Massachusetts, reported 143 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $270,699 in insurance premiums across 4 contracts and $19,193 in broker commissions and fees. The plan is a mix of insured and self-funded coverage. The Department of Labor received the filing on June 9, 2025, before the deadline.
Who was paid on Signet Electronic Systems, 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 Signet Electronic Systems, Inc. filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| NFP · Philadelphia, PA | $9,293 | $9,900 | $19,193 | 4 |
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 Massachusetts, Inc.health, dental | 265 | $270,699 | $17,399 | 6.4% |
| Vision Service Planvision | 97 | — | $191 | — |
| Prudential Insurance Company of Americalife, short-term disability, long-term disability | 122 | — | $1,568 | — |
| Employee Services, Inc.coverage not coded | 128 | — | $35 | — |
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 Signet Electronic Systems, 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.
Not computable: no insured medical premium on the filing.
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 | 143 | 143 | +0.0% |
| Premiums filed | $1,632,037 | $270,699 | −83.4% |
| Broker commissions + fees | $62,324 | $19,193 | −69.2% |
| Commission rate | 3.1% | — | — |
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 |
|---|---|---|---|---|
| Signet Electronic Systems, Inc. Welfare Plan#503 · final filing · insurance, general assets | December 31, 2024 | June 9, 2025 | before deadline | 143 |
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 Signet Electronic Systems, Inc. pay in health insurance broker commissions in 2024?
Signet Electronic Systems, Inc.'s 2024 Form 5500 reports $19,193 in broker commissions and fees across 4 insurance contracts ($9,293 in commissions, $9,900 in fees), with NFP receiving the largest share.
Is Signet Electronic Systems, 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, Inc..
How does Signet Electronic Systems, Inc.'s broker compensation compare with similar employers?
A commission-to-premium ratio cannot be computed for Signet Electronic Systems, Inc. because the filing does not report medical premium on Schedule A (usual for self-funded plans). In dollars, employers with 100-199 participants that disclosed broker pay reported a median of $53,852.
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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.