HealthEquity

HealthEquity

HealthEquity is a health savings account (HSA) provider that offers HSAs, health reimbursement arrangements (HRAs), flexible spending accounts (FSAs), and other financial services to individuals and employers. It aims to help people save and pay for healthcare expenses.
HealthEquity screenshot

HealthEquity: HSA Provider

HealthEquity offers HSAs, HRAs, FSAs, and other financial services to individuals and employers, helping them save for healthcare expenses.

What is HealthEquity?

HealthEquity is one of the largest health savings account (HSA) providers and administrators in the United States. The company focuses on empowering people to build health savings by providing an ecosystem of integrated services to manage health savings accounts, flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and more.

Founded in 2002, HealthEquity manages over 6.4 million accounts for individuals at over 95,000 companies nationwide. The platform lets users view balances and transactions, upload receipts and access customer service tools from desktop and mobile devices. Users can invest HSA funds and spend them via the HealthEquity debit card at healthcare providers like doctors’ offices, dental and vision care centers, and pharmacies.

Key features and services HealthEquity offers include:

  • HSAs, FSAs and HRAs for individuals and employers
  • 24/7 member support and online tools for account management
  • Integration with over 45,000 health plans and systems
  • Investment advising and retirement strategies for HSA savings
  • Access to COBRA and Medicare applications

As one of the pioneers in the HSA administration space with two decades of experience, HealthEquity manages over $18 billion in assets and about 25% of the total HSA market. It continues to expand partnerships across health plans, payroll companies, benefits brokers and more to drive access and adoption of HSAs and consumer-directed health plans.

HealthEquity Features

Features

  1. Health savings accounts (HSAs)
  2. Health reimbursement arrangements (HRAs)
  3. Flexible spending accounts (FSAs)
  4. Investment options for HSA funds
  5. Integrations with health plans and payroll systems
  6. Online member portal
  7. Mobile app

Pricing

  • Free
  • Subscription-Based

Pros

Wide range of tax-advantaged accounts

Good investment options

Easy to use online and mobile tools

Integrates with many health plans and payroll systems

Good customer service

Cons

Monthly fees for some accounts

Limited free withdrawals from HSAs

Website and apps could be more intuitive

Lower interest rates than some banks

Limited brick-and-mortar locations

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