HealthEquity, Inc. - Common Stock (HQY)
Frequently Asked Questions About HealthEquity, Inc. - Common Stock (HQY)
Are there fees associated with HealthEquity HSAs?
Yes, there may be fees associated with HealthEquity HSAs, depending on the account type and the services utilized. Common fees include monthly maintenance fees, transaction fees, and investment fees. However, HealthEquity aims to provide transparent pricing and often waives fees for certain account holders, making it essential for users to review the fee structure upon opening an account.
Can I use my HSA for non-medical expenses?
While HSAs are primarily intended for qualifying medical expenses, they can also be used for non-medical expenses under specific conditions. If funds are withdrawn for non-medical expenses before age 65, a 20% penalty and income tax on the withdrawn amount apply. After age 65, withdrawals for non-medical expenses are subject to income tax only, without penalties.
Does HealthEquity offer investments for HSA funds?
Yes, HealthEquity provides investment options for HSA funds once account holders reach a certain balance threshold. This allows individuals to invest their HSA funds in a variety of portfolios and potentially grow their savings over time, making HSAs not just a means to cover short-term medical expenses but a long-term investment tool.
How can I open an HSA with HealthEquity?
To open an HSA with HealthEquity, you typically need to be enrolled in a high-deductible health plan (HDHP). You can visit their website to complete an online application or contact their customer service for assistance. After completing the application, you will set up your account and can start contributing to your HSA.
How does HealthEquity ensure data security?
HealthEquity employs multiple layers of security measures to protect sensitive customer data. This includes encryption of data in transit and at rest, regular security audits, compliance with industry standards such as HIPAA, and the use of secure servers. The company's commitment to data security ensures that customer information remains confidential and protected from unauthorized access.
How does HealthEquity prioritize customer service?
HealthEquity prioritizes customer service by offering support through multiple channels, including phone, email, and live chat. Their customer service team is highly trained to address a wide range of inquiries, from account setup to investment options, ensuring that clients receive timely and accurate assistance throughout their customer journey.
How does HealthEquity support employers?
HealthEquity supports employers by providing them with comprehensive tools and resources to implement and manage health savings accounts for their employees. Their services include customizable account options, robust reporting features, and integration with payroll systems, enabling employers to offer competitive benefits that enhance employee engagement and reduce overall healthcare costs.
How has HealthEquity performed in the stock market?
HealthEquity's performance in the stock market has been influenced by various factors including industry trends, financial results, and overall market conditions. While specific stock performance can fluctuate, HealthEquity has shown growth potential as a leader in the health savings account market, demonstrating resilience and adaptability within the financial services industry.
Is HealthEquity publicly traded?
Yes, HealthEquity, Inc. is publicly traded on the Nasdaq Stock Market under the ticker symbol HQY. Being publicly traded allows the company to raise capital for growth initiatives and provides transparency to investors regarding its financial performance and business strategies.
What are the benefits of using HealthEquity's services?
Using HealthEquity's services offers several benefits, including a user-friendly platform for managing health accounts, seamless integration with health plans, investment options for HSA funds, and personalized support from their customer service team. These features help users maximize their health savings potential while managing medical expenses efficiently.
What does HealthEquity, Inc. do?
HealthEquity, Inc. provides health savings account (HSA) services and benefits as well as technology solutions to support the rules and regulations governing these types of accounts. The company focuses on empowering consumers to manage their healthcare expenses and maximize their tax-advantaged savings through HSAs, flexible spending accounts (FSAs), and health reimbursement arrangements (HRAs).
What is a Health Savings Account (HSA)?
A Health Savings Account (HSA) is a tax-advantaged savings account designed to help individuals and families save for qualified medical expenses. HSAs are typically paired with high-deductible health plans (HDHPs) and allow account holders to contribute pre-tax dollars, reducing their taxable income while accumulating funds that can be used for eligible healthcare costs.
What is HealthEquity's mission?
HealthEquity's mission is to empower consumers to take control of their healthcare expenses by providing innovative, tech-driven financial solutions. The company seeks to enhance the healthcare experience by making it easier for individuals to manage their health savings and make informed decisions about their care.
What is the contribution limit for HSAs?
The contribution limit for Health Savings Accounts (HSAs) is set annually by the IRS. For the year 2023, the contribution limits are $3,850 for individual coverage and $7,750 for family coverage. Individuals aged 55 or older can also contribute an additional catch-up contribution of $1,000 to further increase their savings.
What is the role of technology at HealthEquity?
Technology plays a crucial role at HealthEquity by streamlining account management, enhancing user experience, and enabling efficient processing of transactions. The company's digital platform provides customers with easy access to their health savings accounts, real-time tracking of expenses, investment options, and educational resources, all designed to empower users in their healthcare decision-making.
What resources does HealthEquity provide for education?
HealthEquity provides a variety of educational resources aimed at helping customers understand health savings accounts and make informed decisions regarding their healthcare costs. This includes webinars, articles, guides, and online calculators, all designed to enhance financial literacy and empower individuals in managing their health expenses effectively.
What types of accounts does HealthEquity manage?
HealthEquity offers a variety of accounts, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs). Each of these accounts serves different purposes and can be tailored to meet the needs of individuals, families, and employers in managing healthcare costs.
When was HealthEquity founded?
HealthEquity was founded in 2002 by Jon Kessler. The company was established with the vision of transforming the way individuals manage their healthcare expenses and savings. Over the years, it has grown to become a leader in the health savings account market, serving millions of customers across the United States.
Where is HealthEquity headquartered?
HealthEquity is headquartered in Draper, Utah, a suburb of Salt Lake City. This central location allows the company to easily access a talented workforce and be in close proximity to important healthcare stakeholders, including insurance providers, employers, and financial institutions.
What is the current price of HealthEquity, Inc. - Common Stock?
The current price of HealthEquity, Inc. - Common Stock is 88.74
When was HealthEquity, Inc. - Common Stock last traded?
The last trade of HealthEquity, Inc. - Common Stock was at 4:00 pm EDT on April 2nd, 2025
What is the market capitalization of HealthEquity, Inc. - Common Stock?
The market capitalization of HealthEquity, Inc. - Common Stock is 7.40B
How many shares of HealthEquity, Inc. - Common Stock are outstanding?
HealthEquity, Inc. - Common Stock has 83.39M shares outstanding.