Adapthealth, LLC 401(k) Review & Grade
Adapthealth 401(k) Profit Sharing Plan and Trust
Plymouth Meeting, PARetail Trade10,514 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$676Employer $ per active participant
$2,093Employee $ saved per active participant
0.29%Direct admin cost, % of plan assets
$159.0MNet plan assets, end of year
$27,144Average balance per account
Score breakdown
- Employer generosity23.2 / 5046th percentile for employer $ per participant
- Low cost2.5 / 2510th percentile for low admin cost vs. same-size plans
- Employee saving9.8 / 1565th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-13 pts2 issues reported on the filing
Total score26 / 100 · Grade F
This plan vs. peers
Peers: Retail Trade plans with 10,000+ active participants (124 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 46th |
| Lower admin cost | 10th |
| Employee saving | 65th |
| Peers that auto-enroll | 32% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
Corrective distributions: the plan refunded $1,031,808 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Adapthealth put in about $676 per active participant, below the typical peer ($689). Any match is still an instant return, so contribute enough to get all of it.
- 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 (0.29% of assets) are well above similar-size plans (0.09%). 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.
- 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 | $7,111,121 |
| Participant (employee) contributions | $22,011,419 |
| Other contributions (incl. rollovers in) | $4,129,889 |
| Administrative expenses paid from the plan | $424,239 |
| Investment advisory & management fees | $78,000 |
| Benefits paid out | $21,124,068 |
| Net assets, start / end of year | $130.8M / $159.0M |
| Active participants, start / end of year | 10,613 / 10,416 |
| Participants with account balances | 5,859 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Maillie LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $332,239 reported compensation |
| Creative Planning LLC | $78,000 reported compensation |
| Mallie LLP | $14,000 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250728130759NAL0001567873001, received 2025-07-28, EIN 45-5553972, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.