Oscar Management Corporation 401(k) Review & Grade
Oscar Health 401(k) Plan
New York, NYFinance & Insurance2,389 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,790Employer $ per active participant
$8,255Employee $ saved per active participant
0.14%Direct admin cost, % of plan assets
$145.2MNet plan assets, end of year
$59,277Average balance per account
Score breakdown
- Employer generosity9.2 / 5018th percentile for employer $ per participant
- Low cost16.4 / 2565th percentile for low admin cost vs. same-size plans
- Employee saving9.5 / 1563th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-3 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: Finance & Insurance plans with 500–2,499 active participants (754 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 18th |
| Lower admin cost | 65th |
| Employee saving | 63th |
| Peers that auto-enroll | 62% |
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Red flags from the filing
Corrective distributions: the plan refunded $2,392 in contributions, which usually means it failed annual nondiscrimination testing.
What to do if you're in this plan
- Oscar Management put in about $1,790 per active participant, below the typical peer ($3,606). 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.
- 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 | $4,275,470 |
| Participant (employee) contributions | $19,722,107 |
| Other contributions (incl. rollovers in) | $5,144,559 |
| Administrative expenses paid from the plan | $178,340 |
| Investment advisory & management fees | $46,685 |
| Benefits paid out | $14,328,493 |
| Net assets, start / end of year | $111.8M / $145.2M |
| Active participants, start / end of year | 2,373 / 2,405 |
| Participants with account balances | 2,450 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Cliftonlarsonallen LLP |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $131,662 reported compensation |
| Strategic Advisors, Inc. | $46,685 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20250924155234NAL0017479410001, received 2025-09-24, EIN 47-3979452, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.