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Guide Smarter Benefit Strategies with Per Product Premium Modeling

Picture of Ian Ryan Ian Ryan : Jul 8, 2025 2:11:48 PM

Form 5500 Sales Distribution Strategy

Guide Smarter Benefit Strategies with Per Product Premium Modeling

Table of Contents

Form 5500 Tells You the Total. But What’s Really Inside That Premium?

Under ERISA, most employer-sponsored benefit plans are required to file a Form 5500 each year. These filings offer a wealth of data including covered products, participating employees, and total premium, but they come with a major limitation: they don’t break down premium by product.

For example, a plan may include Health, Dental, Vision, Life, STD, and LTD coverage, but Form 5500 only reports a single total premium amount for the entire plan. That leaves sales, strategy, and distribution leaders guessing where the real cost drivers and opportunities are.

Per Product Premium Modeling Solves This Problem

At Benefeature, we’ve solved this long-standing gap with our exclusive Per Product Premium Modeling.

Built on over 24 years of proprietary data from our sister platform AskGMS, our model breaks out total premiums into accurate, product-specific estimates. This allows carriers and brokers to:

Understand how much of a premium is allocated to Life vs. Dental vs. Vision
Flag unusually high or low product costs
Benchmark product pricing across similar employers, industries, and geographies
Identify plans worth reviewing or repricing

Why Product-Level Insights Matter

Without product-level visibility, carrier teams are often left guessing. Sales and distribution leaders might know a group is expensive, but not whether it’s Dental, Life, or LTD driving the cost.

Benefeature turns that uncertainty into insight.

By modeling premium at the product level, we give your team the clarity to identify potential issues, tailor plan recommendations, and support brokers with data-backed conversations. Instead of relying on assumptions or broad averages, you can take action with confidence guided by product-specific benchmarks and flags.

More Than a Premium Split: A Searchable Advantage

Our platform goes further than simply estimating per product premium. We flag each product as Very High, High, Normal, Low, or Very Low based on advanced statistical analysis of similar plans. You can then search across the database by:

Product type (e.g., LTD, Life, Dental)
Premium flag
Broker
Carrier
Region or industry
And much more

This helps teams build smarter territory plans, prioritize outreach, and deliver recommendations with confidence.

Built For Carriers and Broker. Trusted by Leaders

Our Per Product Premium Modeling is already being used by national carriers to improve retention, support distribution teams, and drive stronger conversations with brokers and clients.

If your team is still relying on aggregated 5500 data, we’d love to show you what’s possible with Benefeature.

📅 Book your demo to explore how Benefeature helps you connect with more brokers, close more business, and help more clients.