HealthEquity
Healthcare Company
From Wikipedia, the free encyclopedia
HealthEquity, Inc. is an American financial technology and business services company that is designated as a non-bank health savings trustee by the IRS.[2] This designation allows HealthEquity to be the custodian of health savings accounts regardless of which financial institution the funds are deposited with.
 | |
| Company type | Public |
|---|---|
| Founded | 1 January 2002  |
| Headquarters | Draper, Utah, U.S., Draper, UT |
Key people | Scott Cutler, President and CEO Steve Neeleman, Founder and Vice Chairman |
| Revenue |  US$756.6 million (FY ended 1/31/2022) |
 -US$24.238 million (FY ended 1/31/2022) | |
| -US$44.3 million (FY ended 1/31/2022) | |
| Total assets | US$3.107 billion (FY ended 1/31/2022) |
| Total equity | US$1.852 billion (FY ended 1/31/2022) |
Number of employees | 3,688 (January 2022) |
| Website | healthequity |
| Footnotes / references [1] | |
As of July 31, 2022, HealthEquity managed 7.5 million HSA accounts, plus 7 million other consumer-directed benefits ("CDBs") for total accounts of 14.5 million. Total HSA assets as of July 31, 2022 were $20.5 billion, including $13.1 billion of HSA cash and $7.4 billion of HSA investments.[3]
History
HealthEquity was incorporated in January 2002 in Tucson, Arizona by Stephen Neeleman, Nuno Battaglia, and David Hall to reintroduce consumer-driven health care (CDH).[4] It moved its incorporation to Utah in February 2004. HealthEquity went public via an IPO on July 31, 2014, under the symbol "HQY". Healthequity had a massive data breach in March 2024 exposing addressees, social security numbers, as well as HIPAA protected patient information such as diagnoses and medications, of over 4 million patients.[5]
Acquisitions
In August 2019, HealthEquity acquired WageWorks.[6]
In March 2021, HealthEquity acquired Luum and expanded the Commuter benefit offering.[7][8] In November 2021, HealthEquity acquired Further.[9]
In May 2024, HealthEquity acquired BenefitWallet, a Health Savings Account (HSA), owned by Conduent Inc.[10][11]