HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Contribution & Employer Match

How POINT32HEALTH Supports Your Retirement Savings

POINT32HEALTH provides retirement savings benefits through HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN. Understanding your employer’s contribution structure is essential — it directly affects how quickly your retirement nest egg grows. Below you will find the plan’s average account values and contribution patterns based on publicly filed data.

HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Average Participant Retirement Account Value

In 2024, the average participant retirement account value for HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN is $62,784.00

HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Estimated Average Employee Contribution Amount

In 2024, the estimated average employee contribution amount per participant for HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN is $6,446.00. If you contribute an amount exceeding this, you have saved more than your colleagues. Congratulations! Keep up the good work. Otherwise, you might want to consider contributing more to ensure a better retirement future.
412,602.00: this is the amount you will have accumulated 20 years later if you annually contribute the average contribution amount 6,446.00 in HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN, assuming a 10%* annual return.

* Data are from public filings.

Employer Match in HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN

An employer match is one of the most valuable benefits in any 401(k) plan — it is essentially free money added to your retirement savings. Your employer contributes additional funds based on a percentage of your own contributions. Missing out on the full match is one of the most common and costly retirement mistakes employees make.

HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Total Employer Contribution and Match Rate

In 2024, HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN allocates $2,414,205.00 to match its employees’ contributions, providing an employer match rate of 45.95% of their contributions

HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Estimated Average Employer Match

In 2024, the estimated average employer match for an employee in HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN is approximately $2,473.00
Investing in this additonal $2,473.00 for 20 years would give you extra $158,308.00, assuming a 10% annual return.

* Data are from public filings.

Are You Leaving Dollars on the Table?

If you are not contributing enough to capture the maximum employer match, you are literally turning down part of your compensation. For many plans, this can mean thousands of dollars per year in lost employer contributions — money that would compound over decades.

Use the policy details and calculator below to find out exactly how much you need to contribute to capture every dollar of employer matching.

HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Contribution & Match Policy

HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Plan Policies

HEALTH PLANS, INC. 401(K) & PROFIT SHARING PLAN Contribution, Match and Other Plan Policies

  • Participants may contribute annually up to 50% of their compensation on a pretax basis through a salary reduction agreement, subject to the statutory maximum of $23,000 and $22,500 in 2024 and 2023, respectively.
  • Participants age 50 or over by the end of the year are eligible to contribute additional pretax "catch-up" contributions up to the statutory maximum of $7,500 for both 2024 and 2023.
  • The Plan includes automatic enrollment provisions that subject all newly eligible employees to pretax contributions of 4% of their eligible compensation unless they make timely elections to either participate or decline participation in the Plan.
  • These contributions will be invested in the appropriate target date investment option until changed by the participants.
  • Effective January 1, 2022, the Plan implemented an automatic increase program that increases deferrals by 1% each year until the participant reaches a maximum deferral of 10%.
  • In addition, the deferral percentage was increased to 4% for any participant who was deferring between 0% and 3%.
  • In 2024 and 2023, the Company matched 100% of each participant’s pretax contributions of the first 3% and then 50% of the next 2% (maximum of 4% match if a participant contributes 5%).
  • Participants are immediately vested in their contributions and the related earnings.
  • Participants are 100% vested in Company matching and profit sharing contributions and the related earnings after one year of credited service.
  • However, participants terminated before March 4, 2019, are 100% vested after five years of credited service.
  • In the event of normal or early retirement, permanent disability, or death, participants become fully vested in their account balances.

2025 IRS 401(k) Contribution Limits

The IRS sets annual limits on how much you and your employer can contribute to a 401(k) plan. Knowing these limits helps you maximize tax-advantaged savings. Here are the current limits:

 20242025
Employee elective deferrals (pretax + Roth)$23,000$23,500
Employee + employer contributions combined$69,000$70,000
Catch-up contributions (age 50+)$7,500$7,500
Enhanced catch-up (ages 60–63, SECURE 2.0)N/A$11,250

The power of maxing out: If you contribute the full $23,500 annually for 20 years at a 10% average annual return, you would accumulate approximately $1,505,256. If you can maximize the combined employee+employer limit of $70,000 per year, that grows to roughly $4,480,385 over the same period — more than triple.

Use the 401(k) Savings Calculator to model your specific contribution scenario and see how your savings can grow over time.

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