Wallace Welch & Willingham
Updated Filing received by DOL
Wallace Welch & Willingham, a finance & insurance employer in ST. Petersburg, Florida, reported 134 participants in its health and welfare plan for plan year 2024. Its Form 5500 shows $1.3M in insurance premiums across 5 contracts and $6,488 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 April 16, 2025, before the deadline.
Who was paid on Wallace Welch & Willingham's plan
Schedule A, Part I lists each broker or agent paid on each insurance contract and the amount. Totals below add every contract Wallace Welch & Willingham filed for 2024.
| Broker or agent | Commissions | Fees | Total | Contracts |
|---|---|---|---|---|
| Wallace, Welch & Willingham · Saint Petersburg, FL | $0 | $6,488 | $6,488 | 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 |
|---|---|---|---|---|
| Healthoptions, Inc.health, prescription drug, HMO | 100 | $1.1M | — | — |
| Bluecross Blueshield of Floridahealth | 16 | $197,706 | — | — |
| Metropolitan Life Insurance Companyvision | 154 | — | — | — |
| The Guardian Life Insurance Company of Americadental, life, short-term disability, long-term disability | 146 | — | $6,488 | — |
| Metlife Legal Plans of Floridacoverage not coded | 21 | — | — | — |
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 Wallace Welch & Willingham 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: $11,016 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 | 107 | 134 | +25.2% |
| Premiums filed | $1,189,475 | $1,277,822 | +7.4% |
| Broker commissions + fees | $0 | $6,488 | — |
| Commission rate | 0.0% | 0.0% | +0.0 pts |
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 |
|---|---|---|---|---|
| Wallace Welch & Willingham Health & Welfare Plan#502 · final filing · insurance, general assets | December 31, 2024 | April 16, 2025 | before deadline | 134 |
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 Wallace Welch & Willingham pay in health insurance broker commissions in 2024?
Wallace Welch & Willingham's 2024 Form 5500 reports $6,488 in broker commissions and fees across 5 insurance contracts ($0 in commissions, $6,488 in fees), with Wallace, Welch & Willingham receiving the largest share.
Is Wallace Welch & Willingham'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 Healthoptions, Inc., Bluecross Blueshield of Florida.
How does Wallace Welch & Willingham's broker compensation compare with similar employers?
Wallace Welch & Willingham paid 0.0% of medical premium in commissions and fees. The median for employers with 100-199 participants is 4.2%, 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.