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.