Prohealth Physicians, P.C. 401(k) Review & Grade
Optumcare 401(k) Retirement Plan
Minnetonka, MNHealth Care & Social Assistance34,524 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$2,473Employer $ per active participant
$6,887Employee $ saved per active participant
0.02%Direct admin cost, % of plan assets
$4.6BNet plan assets, end of year
$91,364Average balance per account
Score breakdown
- Employer generosity29.4 / 5059th percentile for employer $ per participant
- Low cost22.1 / 2588th percentile for low admin cost vs. same-size plans
- Employee saving13.0 / 1587th percentile for employee $ per participant
- Plan features10 / 10Auto-enrollment, Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score72 / 100 · Grade B
This plan vs. peers
Peers: Health Care & Social Assistance plans with 10,000+ active participants (115 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 59th |
| Lower admin cost | 88th |
| Employee saving | 87th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Corrective distributions: the plan refunded $106,178 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Prohealth Physicians put in about $2,473 per active participant, more than the typical peer ($2,086). 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.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- 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 | $85,384,296 |
| Participant (employee) contributions | $237,761,618 |
| Other contributions (incl. rollovers in) | $45,636,475 |
| Administrative expenses paid from the plan | $907,268 |
| Benefits paid out | $395,565,181 |
| Net assets, start / end of year | $3.0B / $4.6B |
| Active participants, start / end of year | 34,492 / 34,555 |
| Participants with account balances | 50,539 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $907,268 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250717154351NAL0000830240001, received 2025-07-17, EIN 06-1469068, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.