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BANYAN MEDICAL SYSTEMS, LLC

Formerly BANYAN MEDICAL SYSTEMS

EIN 20-5593461 · NE · Professional Services

Look up on EFAST ↗
Compensation disclosed2 brokers of record on fileAs reported on Form 5500 (Schedules A and C), U.S. Department of Labor.

Benchmarked against: Professional Services · 101–500 employees · same industry, regional · n=162 employers (your plan plus 161 peers)

Your exact in-state peer group was below the 10-plan minimum, so the comparison broadens to same industry, regional within Professional Services.

289

(latest)

Fully insured

Funding

$166,018

Broker pay, employer-paid lines (2023)

$47.87

78th pct vs peers · n=162

Lines disclosed: Dental · Life · Short-term disability

Broker pay as a share of insured premium: 0.0% (peer median 4.8%, 1st percentile).

Without the 24 low-disclosure peers, this plan is at the 75th percentile of 138 comparable plans (your plan plus 137 peers).

Per-participant and share-of-premium comparisons differ because your plan insures fewer lines than most peers. The line-by-line rates below are the most direct comparison.

Employer-paid $166,018 benchmarked for 2023 · $2,221,189 shown as filed, excluded as a likely filing error

Why excluded?

1 broker compensation line totaling $2,221,189 on the Form 5500 appears to be filing errors (a commission above 100% of the premium reported on that contract, or pay above $200 per participant per month or $50,000,000 on one line). We verified these amounts against the DOL EFAST publication — they are as filed by the plan sponsor, not an Unbrokered ingest error. Those lines are shown as filed and excluded from peer benchmarks and headline PEPM.

Broker commission rate by benefit line

What the broker earns on each insured line, as a share of that line's own premium — not a share of total broker pay, and not what the coverage cost. Peers for these tiles: same region, similar covered lives. Full table below. How the national rates are built.

Medical

<0.1%

763 peer contracts — p25 1.5% · median 2.6% · p75 4.0%. This contract: <0.1%.

Peer median 2.6%

No commission on this contract

Dental

Not comparable

Commission is above 100% of the premium on this contract

Life

16.1%

2,676 peer contracts — p25 10.0% · median 15.0% · p75 18.7%. This contract: 16.1%.

Peer median 15.0%

Within peer range

Vision is not on this filing as its own contract, so there is no peer rate to show for it.

This page shows what was filed. The report shows what it means.

  • What the gap is worth — the dollar difference vs. peer median, including a 3-year view
  • The current structure compared against levels comparable plans actually reported
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Broker Compensation Benchmark Report

Peer distributions · dollar quantification · 3-year trajectory · modeled alternatives

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Where the $166,018 across all lines goes

Each broker and each benefit line, in dollars

How much broker pay rides inside the premium

Base commission against bonuses and other carrier payments, all funded through premium

Whether this number is drifting

Compensation across every filed year, against the peer median

A screenshot isn't a record. Get the dated report for your file.

Line-item breakdown, multi-year trend, and methodology-backed framing — ready for fiduciary oversight and recordkeeping.

Or, if this is your company, share your plan basics to unlock your company’s full detail — the dated report PDF stays a separate purchase.

Benefits covered (latest filing)

Long-term disabilityDentalHealthLife insurance

From the Form 5500 welfare benefit codes — the authoritative list of what the plan covers, including medical (health).

Broker history

Benefit lines covered by year — broker identity limited on public pages

Broker identity on this page is limited for public viewers. Sign in with your work email or share your plan basics for the full breakdown on your company.

Commission rates by benefit line

Each insured contract on the filing, with the broker's commission as a share of that contract's own premium. Premium is what was paid to the carrier for the coverage; only the commission column is broker pay.

Benefit lineContractRatevs. peersPosition
Medicalfiled as “Health”UnitedHealthcare Insurance Company<0.1%763 peer contracts — p25 1.5% · median 2.6% · p75 4.0%. This contract: <0.1%.med 2.6%No commission on this contract
DentalStarmount Life Insurance CompanyNot comparableCommission is above 100% of the premium on this contractCommission is above 100% of the premium on this contract
LifeUnum Life Insurance Company of America16.1%2,676 peer contracts — p25 10.0% · median 15.0% · p75 18.7%. This contract: 16.1%.med 15.0%Within peer range

Bundled and other contracts — no single-line peer comparison

A bundled contract covers two or more lines on one premium (for example Health + Dental). Its effective rate is the commission on the whole premium; it is shown for completeness and never compared with single-line peers, because the mix of lines inside the bundle sets the rate as much as the broker does.

CoversContractEffective ratevs. peers
Life + Short-term disabilityUnum Life Insurance Company of AmericaPlan 5047.8%Bundled; no single-line peer
How the peer group for each line was built
  • Medical: n=763 contracts, Midwest, 501-2500 covered lives
  • Dental: n=2,595 contracts, Midwest, 101-500 covered lives
  • Life: n=2,676 contracts, Midwest, 101-500 covered lives

n = the number of peer contracts in that comparison group.

Everything in this table is from the 2023 filing. These 4 contracts are a subset of the broker compensation disclosed for that year. The remainder sits on contracts with no premium reported or on Schedule C service-provider fees, which carry no contract rate.

Peer comparison here is contract-level: each line is matched to single-line contracts covering a similar number of lives. The geography and size band come from that cell's generated scope label. That is a different group from the plan-level peer set, which compares employers on total broker cost per employee, so the two sample sizes are not expected to agree. The national table on the research page includes every single-line contract on that benefit line. Company pages use the tightest cell with at least 10 contracts — region and size when those exist, otherwise national. The two medians answer different questions, so they are not expected to match. Contracts under $10,000 in premium are listed for completeness, with no rate or peer position. A near-zero rate on a large premium usually means the broker is paid elsewhere (through a bundled contract, a Schedule C fee, or commission on other lines), so no market position is shown for that contract. Not comparable: Commission is above 100% of the premium on this contract

Plans on file

Expand a plan to see its insured contracts and year-over-year history — the details someone on the plan can recognize and verify.

PN 504BANYAN MEDICAL SYSTEMS ADD, LIFE, STD415 participants (2023)
Long-term disabilityDentalFully insured

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PN 501BANYAN MEDICAL SYSTEMS, LLC289 participants (2023)
HealthFully insured

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PN 502BANYAN MEDICAL SYSTEMS, LLC 0926722282 participants (2023)
Life insuranceFully insured

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PN 503BANYAN MEDICAL SYSTEMS LLC LIFESTYLE ADD, LIFESTYLE LIFE180 participants (2023)
DentalFully insured

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Covers = benefits reported on the Form 5500 (welfare benefit codes). Contracts = insured lines itemized on Schedule A; a self-funded medical line never appears there.

At a glance

Primary brokerLimited on public pages
Years on file1
Lead broker continuitySingle year on file
Broker setup2 brokers across benefit lines
Most
Peer benchmarkProfessional Servicesn=162 · regional peers

Is this your company?

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Or share your plan basics to unlock your company’s full detail — the report PDF itself is a separate purchase.

How do similar employers compare?

Employers in the same peer group (Professional Services, similar size), from public Form 5500 filings. Open one to see what it pays its broker.

Browse more: Nebraska employer health plans · Professional Services plans in Nebraska · all states

Sourced from Form 5500 filings as submitted to the U.S. Department of Labor. Most recent plan year on file: 2023. Dataset refreshed October 7, 2026. Plan years are labeled by the year they begin, so a July 2024 – June 2025 plan year is 2024. Filings may lag 12–18 months behind the current plan year.

Report a data discrepancy

Unbrokered reports data as filed with the DOL. If you believe a figure is incorrect, tell us what it should be. We respond within 2 business days and, where the underlying filing has been amended, update on our next data refresh. We don't remove publicly filed information on request, but we do correct genuine errors.