Form 5500 · Employee benefit plan · MCLEAN, VA
CAPITAL ONE FINANCIAL CORPORATION
The filing calls this plan DISCOVER FINANCIAL SERVICES WELFARE BENEFITS PLAN.
CAPITAL ONE FINANCIAL CORPORATION of MCLEAN, VA spreads its employee benefits across 8 insurance carriers, according to its Form 5500 Schedule A. Its broker of record is MERCER HEALTH & BENEFITS ADMIN LLC. Coverage is written through SELECTHEALTH and 7 other carriers. The plan's most recent policy period ended in December.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 54-1719854 · plan 501 · plan year 2025, filed Jul 21, 2026
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1,326 other employer plans in Virginia have policy years ending in December. See the full list on the renewal calendar, or ask for it in Claude or ChatGPT.
How this plan is funded
Fully insured as reported
The filing reports medical coverage through an insurance contract on Schedule A, and no money paid for benefits by the plan itself.
Benefits declared on this filing
Also declared: prepaid legal, severance, death benefits, other welfare.
Declared benefits are the plan’s own line 8b codes on Form 5500. “Not on Schedule A” means no insured contract for that line appears on this filing. That usually means the benefit is self-funded, or it sits under a different plan number.
Where a line has more than one insured contract, the carrier and the covered figure are the largest contract's by premium. The contracts are not added up: a pharmacy carve-out and the medical carrier beside it cover the same people.
Persons covered is the count the carrier filed for that policy at the end of its policy year, and it can include dependents. Participants is the plan's own count at the start of its plan year. The two count different people, so a covered figure can be larger.
Plan brief
Schedule A lists 15 insured contracts covering health, dental, vision, life and disability.
Reported premium across the insured contracts is $52,317,904, with $174,821 in disclosed broker commissions — about 0.3% of premium.
The health contract's policy period ended in December, while at least one ancillary line's policy period ended in May. The plan is on a split renewal cycle.
MERCER HEALTH & BENEFITS ADMIN LLC is the broker of record on 4 of the 15 contracts; the rest name a different broker or none.
8 carriers appear on the filing, including SELECTHEALTH, METROPOLITAN LIFE INSURANCE COMPANY, HARTFORD LIFE AND ACCIDENT and VISION SERVICE PLAN. SELECTHEALTH writes the largest contract by premium.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| METROPOLITAN LIFE INSURANCE COMPANY | Health | 10,895 | Jan 1, 2026 | $966,717 | $48,060 |
| LIFE INSURANCE COMPANY OF NORTH AMERICA | — | 5,066 | Jun 1, 2025 | $562,073 | $42,226 |
| METROPOLITAN LIFE INSURANCE COMPANY | Health | 6,582 | Jan 1, 2026 | $695,595 | $34,789 |
| LIFE INSURANCE COMPANY OF NORTH AMERICA | — | 19,561 | Jun 1, 2025 | $209,996 | $29,107 |
| METROPOLITAN LIFE INSURANCE COMPANY | Health | 12,486 | Jan 1, 2026 | $404,896 | $20,243 |
| METROPOLITAN LIFE INSURANCE COMPANY | Health | 22 | Jan 1, 2026 | $7,223 | $396 |
| SELECTHEALTH | Health | 2,479 | Jan 1, 2026 | $19,930,658 | $0 |
| METROPOLITAN LIFE INSURANCE COMPANY | Dental | 33,566 | Jan 1, 2026 | $15,032,772 | $0 |
| HARTFORD LIFE AND ACCIDENT | Life, Disability | 19,326 | Jan 1, 2026 | $9,659,082 | $0 |
| VISION SERVICE PLAN | Vision | 13,103 | Jan 1, 2026 | $3,477,878 | $0 |
| METLIFE LEGAL PLANS | — | 3,322 | Jan 1, 2026 | $721,184 | $0 |
| UNITED BEHAVIORAL HEALTH DBA OPTUM | — | 18,805 | Jan 1, 2026 | $573,257 | $0 |
| HAWAII MEDICAL SERVICE ASSOCIATION | Health | 6 | Jan 1, 2026 | $62,740 | $0 |
| METROPOLITAN LIFE INSURANCE COMPANY | — | 5 | Jan 1, 2026 | $13,833 | $0 |
| LIFE INSURANCE COMPANY OF NORTH AMERICA | — | 19,086 | Jun 1, 2025 | — | $0 |
Premium and claims on this contract
VISION SERVICE PLAN, contract 12309573. For the contract year on this filing, the carrier reported $3,477,878 in premium earned and $3,159,580 in claims incurred. Dividing one by the other gives 91%.
- VISION SERVICE PLAN, contract 12309573 reported $330,398 in retention.
Retention is what the carrier kept of the premium after claims, as reported: administration, commissions and other charges.
Only experience-rated contracts report these figures, so most filings leave them blank.
Covered = persons covered at policy year end, as filed on Schedule A for that policy — often certificates or one class, not the whole plan. Premium = the filing’s own premium/charges figure; “—” means not credibly reported.
Administrator and service providers
The plan administrator is from line 3a of the main form. We publish company names only.
Other plans filed by this employer
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