Form 5500 · Employee benefit plan · CORNELIUS, NC
MPAY INC
The filing calls this plan MPAY INC WRAP PLAN.
MPAY INC of CORNELIUS, NC insures health, dental, vision, life and disability coverage for its employees, per Schedule A of its Form 5500. Its broker of record is IDM INSURANCE SERVICES, LLC. Coverage is written through UNITEDHEALTHCARE INSURANCE COMPANY and 3 other carriers. The plan's most recent policy period ended in December.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 04-3333229 · plan 501 · plan year 2024, filed Jun 5, 2025
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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: death benefits.
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.
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 4 insured contracts covering health, dental, vision, life and disability; the largest, with UNITEDHEALTHCARE INSURANCE COMPANY, covers 243 people.
Reported premium across the insured contracts is $1,485,788, with $58,046 in disclosed broker commissions — about 3.9% of premium.
The health contract's policy period ended in December, while at least one ancillary line's policy period ended in August. The plan is on a split renewal cycle.
IDM INSURANCE SERVICES, LLC is the broker of record on 1 of the 4 contracts; the rest name a different broker or none.
4 carriers appear on the filing, including UNITEDHEALTHCARE INSURANCE COMPANY, DELTA DENTAL OF NORTH CAROLINA, LIFE INSURANCE COMPANY OF NORTH AMERICA and VISION SERVICE PLAN. UNITEDHEALTHCARE INSURANCE COMPANY writes the largest contract by premium.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| UNITEDHEALTHCARE INSURANCE COMPANY | Health | 243 | Jan 1, 2025 | $1,272,073 | $35,616 |
| DELTA DENTAL OF NORTH CAROLINA | Dental | 289 | Jan 1, 2025 | $146,991 | $13,455 |
| LIFE INSURANCE COMPANY OF NORTH AMERICA | Life, Disability | 129 | Sep 1, 2024 | $51,238 | $7,193 |
| VISION SERVICE PLAN | Vision | 101 | Jan 1, 2025 | $15,486 | $1,782 |
Premium and claims on this contract
DELTA DENTAL OF NORTH CAROLINA, contract 10645. For the contract year on this filing, the carrier reported $146,991 in premium earned and $131,709 in claims incurred. Dividing one by the other gives 90%.
- DELTA DENTAL OF NORTH CAROLINA, contract 10645 reported $32,103 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
How this plan compares
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