Care One Management, LLC 401(k) Review & Grade
Healthbridge Management 401(k) Plan
Fort Lee, NJHealth Care & Social Assistance3,313 active participantsPlan year 2024✓ Auto-enroll
Estimate from the plan's Form 5500 filing · How we grade
$348Employer $ per active participant
$3,109Employee $ saved per active participant
0.42%Direct admin cost, % of plan assets
$85.4MNet plan assets, end of year
$21,141Average balance per account
Score breakdown
- Employer generosity19.6 / 5039th percentile for employer $ per participant
- Low cost4.0 / 2516th percentile for low admin cost vs. same-size plans
- Employee saving7.9 / 1552th percentile for employee $ per participant
- Plan features7 / 10Auto-enrollment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score36 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 39th |
| Lower admin cost | 16th |
| Employee saving | 52th |
| Peers that auto-enroll | 38% |
Get the monthly 401(k) report card
The best and worst plans, new grades as filings post. One email a month, no spam.
Red flags from the filing
Corrective distributions: the plan refunded $20,061 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Care One Management put in about $348 per active participant, below the typical peer ($800). 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 (0.42% of assets) are well above similar-size plans (0.12%). 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 | $1,152,219 |
| Participant (employee) contributions | $10,298,741 |
| Other contributions (incl. rollovers in) | $571,145 |
| Administrative expenses paid from the plan | $327,701 |
| Investment advisory & management fees | $70,473 |
| Benefits paid out | $7,809,348 |
| Net assets, start / end of year | $72.5M / $85.4M |
| Active participants, start / end of year | 3,322 / 3,304 |
| Participants with account balances | 4,040 |
| Auto-enrollment (feature code 2S) | Yes |
| Auditor | Sax LLP |
Largest service providers (Schedule C)
| Empower Annuity Insurance Company O | $257,228 reported compensation |
| Morgan Stanley | $70,473 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014124402NAL0002789105001, received 2025-10-14, EIN 20-0219127, plan #003, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.