Health First Privia Medical Group, LLC 401(k) Review & Grade
Privia Medical Group 401(k) Plan
Melbourne, FLHealth Care & Social Assistance602 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,743Employer $ per active participant
$2,601Employee $ saved per active participant
1.70%Direct admin cost, % of plan assets
$8.6MNet plan assets, end of year
$12,487Average balance per account
Score breakdown
- Employer generosity33.1 / 5066th percentile for employer $ per participant
- Low cost0.5 / 252th percentile for low admin cost vs. same-size plans
- Employee saving7.7 / 1551th percentile for employee $ per participant
- Plan features0 / 10No auto-enrollment or default investment reported
- Red-flag deductions-10 pts1 issue reported on the filing
Total score31 / 100 · Grade D
This plan vs. peers
Peers: Health Care & Social Assistance plans with 500–2,499 active participants (1,427 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 66th |
| Lower admin cost | 2th |
| Employee saving | 51th |
| Peers that auto-enroll | 36% |
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Red flags from the filing
Late deposits: the filing says some employee contributions were not sent to the plan on time ($396,739 reported). That's money taken from paychecks that sat with the employer longer than the law allows.
What to do if you're in this plan
- Health First Privia Medical Group put in about $1,743 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 (1.70% 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 reported late deposits of employee contributions. Compare your pay stubs with your account statements, and contact the plan administrator if money shows up late.
- 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 | $1,049,426 |
| Participant (employee) contributions | $1,565,581 |
| Other contributions (incl. rollovers in) | $170,094 |
| Administrative expenses paid from the plan | $108,700 |
| Other admin expenses | $93 |
| Benefits paid out | $369,021 |
| Net assets, start / end of year | $4.2M / $8.6M |
| Active participants, start / end of year | 486 / 718 |
| Participants with account balances | 686 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Baker Tilly US, LLP |
Largest service providers (Schedule C)
| Milliman, Inc. | $108,607 reported compensation |
| Charles Schwab Trust Bank | $3,193 reported compensation |
| Charles Schwab & Co., Inc. | $0 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20260804135955NAL0001832832001, received 2026-08-04, EIN 32-0602652, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.