Healthnet, Inc. 401(k) Review & Grade
Healthnet, Inc. 401(k) Plan
Indianapolis, INHealth Care & Social Assistance643 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,676Employer $ per active participant
$4,545Employee $ saved per active participant
0.75%Direct admin cost, % of plan assets
$32.9MNet plan assets, end of year
$45,175Average balance per account
Score breakdown
- Employer generosity39.9 / 5080th percentile for employer $ per participant
- Low cost2.8 / 2511th percentile for low admin cost vs. same-size plans
- Employee saving11.1 / 1574th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
Total score64 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 80th |
| Lower admin cost | 11th |
| Employee saving | 74th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
No red flags were reported on this filing's compliance questions.
What to do if you're in this plan
- Healthnet put in about $2,676 per active participant, more than the typical peer ($976). Contribute at least enough to collect the full match. Skipping it leaves part of your pay on the table.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Direct plan expenses (0.75% of assets) are well above similar-size plans (0.23%). Check your annual fee disclosure, choose low-cost index funds if you can, and think about whether savings beyond the match belong in an IRA.
- The plan auto-enrolls employees. Check your default contribution rate. Defaults are often lower than what it takes to get the full match.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $1,720,434 |
| Participant (employee) contributions | $2,922,506 |
| Other contributions (incl. rollovers in) | $451,577 |
| Administrative expenses paid from the plan | $237,588 |
| Investment advisory & management fees | $150,273 |
| Benefits paid out | $6,118,474 |
| Net assets, start / end of year | $30.1M / $32.9M |
| Active participants, start / end of year | 699 / 587 |
| Participants with account balances | 728 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Blue and Company LLC |
Largest service providers (Schedule C)
| NFP Retirement Inc | $96,362 reported compensation |
| Empower Annuity Insurance Company | $87,315 reported compensation |
| Empower Advisory Group, LLC | $38,384 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251008075054NAL0013212402001, received 2025-10-08, EIN 35-1579827, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.