Health First Shared Services, Inc. 401(k) Review & Grade
Health First Retirement Savings Plan
Melbourne, FLHealth Care & Social Assistance9,204 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,353Employer $ per active participant
$4,872Employee $ saved per active participant
0.11%Direct admin cost, % of plan assets
$903.0MNet plan assets, end of year
$87,340Average balance per account
Score breakdown
- Employer generosity29.9 / 5060th percentile for employer $ per participant
- Low cost13.6 / 2555th percentile for low admin cost vs. same-size plans
- Employee saving10.4 / 1569th percentile for employee $ per participant
- Plan features3 / 10Default investment
Total score57 / 100 · Grade C
This plan vs. peers
Peers: Health Care & Social Assistance plans with 2,500–9,999 active participants (312 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 60th |
| Lower admin cost | 55th |
| Employee saving | 69th |
| Peers that auto-enroll | 38% |
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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
- Health First Shared Services put in about $1,353 per active participant, more than the typical peer ($800). 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.
- 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 | $12,456,631 |
| Participant (employee) contributions | $44,835,990 |
| Other contributions (incl. rollovers in) | $2,931,130 |
| Administrative expenses paid from the plan | $929,351 |
| Investment advisory & management fees | $110,555 |
| Other admin expenses | $24,092 |
| Benefits paid out | $88,960,274 |
| Net assets, start / end of year | $809.8M / $903.0M |
| Active participants, start / end of year | 9,129 / 9,278 |
| Participants with account balances | 10,339 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | RSM US LLP |
Largest service providers (Schedule C)
| Milliman, Inc. | $793,982 reported compensation |
| Charles Schwab & Co., Inc. | $91,974 reported compensation |
| Savant Capital LLC | $70,317 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251014124504NAL0002935057001, received 2025-10-14, EIN 59-3336894, plan #005, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.