Form 5500 · Employee benefit plan · REHOBOTH BEACH, DE
OCEAN ATLANTIC COMPANIES
OCEAN ATLANTIC COMPANIES of REHOBOTH BEACH, DE insures dental, vision, life and disability coverage for its employees, per Schedule A of its Form 5500. Its broker of record is USI INSURANCE SERVICES LLC. Coverage is written through THE LINCOLN NATIONAL LIFE INSURANCE COMPANY and 2 other carriers. The plan's most recent policy period ended in December.
Sourced from U.S. DOL EFAST2 Form 5500 · EIN 43-2083499 · plan 501 · plan year 2024, filed Aug 16, 2025
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How this plan is funded
Funding not settled by the filing
The filing does not report enough to settle how this plan pays for benefits.
Benefits declared on this filing
One contract on this filing does not say which benefits it covers, so a line above may be insured by it.
Also declared: 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.
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 3 insured contracts covering dental, vision, life and disability; the largest, with THE LINCOLN NATIONAL LIFE INSURANCE COMPANY, covers 279 people.
The filing declares dental, vision, life, disability and health. Health appears with no insured contract on Schedule A. That coverage may be self-funded, placed with a carrier that is not on this filing, or written on the contract here that does not say what it covers.
Reported premium across the insured contracts is $319,131, with $21,632 in disclosed broker commissions — about 6.8% of premium.
The most recent policy period ended in December, and the plan year ends December 31. Group contracts typically renew on that annual cycle.
USI INSURANCE SERVICES LLC is the broker of record on 2 of the 3 contracts; the rest name a different broker or none.
Schedule A insurance contracts
| Carrier | Benefits | Covered | Renews | Premium | Commission |
|---|---|---|---|---|---|
| THE LINCOLN NATIONAL LIFE INSURANCE COMPANY | Dental, Life, Disability | 279 | Jan 1, 2025 | $261,165 | $20,518 |
| STANDARD INSURANCE COMPANY | Vision | 191 | Jan 1, 2025 | $24,230 | $1,114 |
| REVIVEHEALTH | — | 269 | Jan 1, 2025 | $33,736 | $0 |
Premium and claims on this contract
STANDARD INSURANCE COMPANY, contract 763026. For the contract year on this filing, the carrier reported $22,271 in premium earned and $15,415 in claims incurred. Dividing one by the other gives 69%.
- STANDARD INSURANCE COMPANY, contract 763026 reported $6,856 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.
How this plan compares
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