401(k) · DOL Form 5500 · 2023

American Well Corporation 401(k) Plan

Data updated 2026-08-25

$94M
Total assets Below avg plan size
1,051
Participants Near avg headcount
91st
Percentile by assets National rank
$89,226
Avg per participant Below avg balance/head
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Official DOL plan name: American Well Corporation 401(k) Plan · Sponsored by American Well Corporation · Massachusetts · Professional & Technical Services

$94M in assets, 1,051 participants

American Well Corporation's American Well Corporation 401(k) Plan reported $94M in total assets and 1,051 participants in its 2023 DOL Form 5500 filing, ranking in the 91st percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #18,705 in Professional & Technical Services (20,321 peers)

Where American Well Corporation 401(k) Plan sits by assets

American Well Corporation 401(k) Plan sits in the top 10% of all filed plans by assets, $94M for 1,051 participants (~$89,226/participant), up 35.7% in 2023.

#18,705
in Professional & Technical Services (20,321 peers)
+35.7%
assets growth YoY
0.9×
vs typical plan assets (national mean)

American Well Corporation 401(k) Plan's outsized position by total assets

American Well Corporation 401(k) Plan vs every filed plan by assets

End-of-year total assets · plan year 2023 · DOL Form 5500

$93,776,018 Top 9% higher than 91% of 127,068 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2023

American Well Corporation 401(k) Plan's large-plan peer group by participant headcount

Plan-year 2023 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. American Well Corporation 401(k) Plan lands in the large band (1,051 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • American Well Corporation 401(k) Plan reported net income rose from $1M in the plan year 2022 filing to $25M in the plan year 2023 filing.
  • American Well Corporation 401(k) Plan end-of-year assets rose from $69M in the plan year 2022 filing to $94M in the plan year 2023 filing.
  • American Well Corporation 401(k) Plan reported participants rose from 816 in the plan year 2022 filing to 1,051 in the plan year 2023 filing.

See the national 2022→2023 release diff →

Published 5500 schedule card

Filing strip 205009396 · American Well Corporation PY 2023 · 401(k)

American Well Corporation 401(k) Plan · $94M · 1,051 · 91st

  • RANK $94M
  • PHOTO 1,051
  • IND 91st
  • EOY 401(k)
  • 5500 near Dayco Savings & Retirement Plan
  • ASSETS ind #18705

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Professional & Technical Services retirement plans → · Plans in Massachusetts →

American Well Corporation 401(k) Plan in the asset neighbourhood

The Contractors Retirement PlanThe Contractors Retirement P…$94MSignant Health 401(k) Plan$94MAmerican Well Corporation 401(k) PlanAmerican Well Corporation 40…$94MDayco Savings & Retirement PlanDayco Savings & Retirement P…$94MStimson Lumber Company 401(k) PlanStimson Lumber Company 401(k…$94M
End-of-year total assets ($M) among American Well Corporation 401(k) Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$69M
Net Assets (End of Year)$94M
Net Income$25M
Employer EIN205009396
Plan Effective Date2007-01-01
Filing StatusFILING RECEIVED

Sponsor Plan History (American Well Corporation)

Sponsor-wide plan assets over time

All American Well Corporation plans reported in each filing year

Latest sponsor-wide plan assets
$108M 56.82081768074775% vs 2022
2024 filing year
$60M$80M$100M$120M 202220232024 $69.1M $108M ▲ +56.8%
Year Plans Participants Total Assets
2022 1 816 $69M
2023 1 1,051 $94M
2024 1 1,047 $108M

Nearby 401(k) Plans in Massachusetts

Peer 401(k) plans, same state, same plan type, ranked by total assets.

American Well Corporation 401(k) Plan vs. nearby 401(k) plans in Massachusetts, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -10010203040 Total assets ($B) Participants American Well Corporation 401(k) Plan, Total assets ($B): 0.093776018 · Participants: 1051American Well Corporation 401(k) PlanFidelity Retirement Savings Plan, Total assets ($B): 28.649852331 · Participants: 62289Fidelity Retirement Savings PlanLiberty Mutual 401(k) Plan, Total assets ($B): 10.556596852 · Participants: 37052Liberty Mutual 401(k) PlanMassachusetts Institute of Technology Supplemental 401(k) Plan, Total assets ($B): 6.829912863 · Participants: 14094Massachusetts Institute of Technology Supplemental 401(k) PlanBoston Scientific Corporation 401(k) Retirement Savings Plan, Total assets ($B): 5.786107181 · Participants: 19881Boston Scientific Corporation 401(k) Retirement Savings PlanPhilips North America 401(k) Plan, Total assets ($B): 5.779286156 · Participants: 19120Philips North America 401(k) Plan
American Well Corporation 401(k) Plan vs. nearby 401(k) plans in Massachusetts, assets vs. participants
Compare American Well Corporation 401(k) Plan side-by-side with 3 peers →

American Well Corporation 401(k) Plan's out-of-state 401(k) peers by assets and headcount

Outside Massachusetts, the nearest 401(k) by assets is Dayco Savings & Retirement Plan in MI ($94M); by covered participants it is Behlen Mfg. Co. 401(k) Plan in NE (1,051 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($94M here).

Similar participant headcount

Nearest other-state filings by covered participants (1,051 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did American Well Corporation 401(k) Plan assets move in 2023? ▼
American Well Corporation 401(k) Plan surged - up 35.7% during 2023, from $69M to $94M. Reported net income was $25M.
How have American Well Corporation plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), American Well Corporation's sponsor-wide assets grew 56.8%, from $69M to $108M.
Where does American Well Corporation 401(k) Plan rank by assets among Form 5500 filers? ▼
American Well Corporation 401(k) Plan ranks in the 91st percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 10% of all filed plans by assets).
Which 401(k) plans are similar in size to American Well Corporation 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by assets is Dayco Savings & Retirement Plan in MI ($94M, 356 participants).
Which 401(k) plans cover a similar participant headcount to American Well Corporation 401(k) Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Behlen Mfg. Co. 401(k) Plan in NE (1,051 participants, $74M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 205009396.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.