Versant Power Health & Welfare Plan — Form 5500 plan (Versant Power)
Plain-English plan summary
According to public Form 5500 filings published through the U.S. Department of Labor (DOL) Employee Benefits Security Administration (EBSA) via the EFAST2 system, Versant Power Health & Welfare Plan is a benefit plan reported by Versant Power under EIN 01-0024370 and plan number 502. The latest loaded filing year is 2023. The filing reports 473 participants and $3,786,226 in end-of-year plan assets, where available in the loaded dataset.
Form 5500 plan profile · 2023
Key reported metrics
Net assets (EOY)$3.7MPlan net assets, end of year$3,655,226
Participants473Covered participants reported
Assets / participant$8KComputed: assets ÷ participants$8,005 (computed)
Provider compensation$1M3 Schedule C provider row(s)$1,027,294
- Plan sponsor
- Versant Power
- EIN
- 01-0024370
- Plan number
- 502
- Plan type
- 2
- Location
- Bangor, ME
- Latest filing year
- 2023
Form 5500 filing history
| Filing year | Participants | Schedules | Filing |
|---|---|---|---|
| 2023 | 473 | H, C | 20240726112908NAL0010154147001 |
Schedule H · 2023
Reported financial statement
Reported figures as filed, in whole dollars. Only fields the filing reports are shown; others are marked not reported.
Reported balance (end of year)$3.8M total assets
Net assets$3.7MLiabilities$131K
Full reported line items
Net assets
- Total assets (EOY)
- $3,786,226
- Total liabilities (EOY)
- $131,000
- Net assets (EOY)
- $3,655,226
- Net assets (BOY)
- $2,923,384
Income & contributions
- Employer contributions
- $7,828,789
- Participant contributions
- $2,165,889
- Total contributions
- $9,994,678
- Total income / additions
- $10,459,264
Expenses & distributions
- Benefits paid
- $9,455,466
- Administrative expenses
- $271,956
- Total expenses
- $9,727,422
- Net increase / (decrease)
- $731,842
Service provider compensation (Schedule C)
| Provider | Service | Direct comp. | Indirect comp. | Year |
|---|---|---|---|---|
| Anthem Health Plans Of Maine Inc | CLAIMS ADMINISTRATOR | $331,710 | $675,565 | 2023 |
| Optum Health Financial Services | CLAIMS ADMINISTRATOR | $16,125 | not reported in the loaded dataset | 2023 |
| Bank Of America | TRUSTEE | $3,894 | not reported in the loaded dataset | 2023 |