Health Savings Accounts (HSAs)
Triple-tax advantaged HSAs for healthcare savings and long-term financial wellness.
Executive Summary
HealthEquity administers Health Savings Accounts (HSAs), which are powerful tools for managing healthcare costs and building long-term savings. HSAs offer a unique triple-tax advantage: tax-free contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. This makes them one of the most tax-advantaged accounts recognized by the IRS. HealthEquity partners with employers, benefits consultants, and health/retirement plan providers to offer these accounts to over 12 million members. Beyond HSAs, HealthEquity also administers other consumer-directed benefits like FSAs and HRAs, providing a comprehensive solution for employee benefits management. The platform aims to empower individuals to maximize their healthcare savings and navigate their financial health effectively.
Use Cases
- Saving for current and future medical expenses
- Investing for long-term retirement healthcare costs
- Paying for qualified medical, dental, and vision expenses tax-free
- Supplementing Medicare and retirement savings
- Managing healthcare costs with a high-deductible health plan
Features
Visibility
- Online Account Management: Members can easily view balances, transactions, and manage investments through a secure online portal.
- Mobile Access: Access and manage HSA accounts on the go via mobile devices, with support for passkeys.
Intelligence
- AI-Powered System Integration: Utilizes AI to streamline application development and integrate seamlessly with existing employer systems.
- Benefits Optimization Insights: Provides insights for employers and benefits leaders on optimizing employee benefits offerings.
Support
- Dedicated Member Support: Assistance for account holders to navigate their HSA benefits and maximize savings.
- Employer Implementation Support: Guidance and resources for employers during the setup and ongoing administration of HSA plans.
Technical Specifications
- Architecture
- Cloud-native, leveraging Azure for development and integration.
- Deployment
- SaaS
- Authentication
- SSO/SAML
- API Available
- Yes
Infrastructure
- Azure
Pricing
- Model
- Employer-sponsored, per-account administration fee
- Starting Price
- Contact sales
- Target Customer
- SMB,Mid-Market,Enterprise
- Free Trial
- No (no credit card required)
Ratings & Reviews
G2: 4.7/5/5
About HealthEquity
HealthEquity is a financial technology and business services company that serves as a non-bank health savings trustee. They empower healthcare consumers by providing Health Savings Accounts (HSAs) and other consumer-directed benefits (CDBs) such as Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and commuter benefits. Their target market includes individuals, employers, benefits advisors, and health and retirement plan providers.
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