DRAPER, Utah--(BUSINESS WIRE)--HealthEquity, Inc. (NASDAQ: HQY), a leading health savings account (HSA) provider, is pleased to launch Balance Booster™. This new feature, available to employers offering HealthEquity HSAs, provides members advance access to funds. Account holders with access to this feature no longer have to worry about incurring medical costs early in the year before their HSA balance has grown.
“For years, flexible spending accounts were attractive because the total annual funding was made available up front,” stated Brad Bennion, HealthEquity senior vice president of product. “With HealthEquity’s Balance Booster, an HSA can now provide a similar benefit but with the added advantage of being a long-term savings account. There is no use-it-or-lose-it limitation.”
Paired with a high deductible health plan, an HSA provides an unparalleled opportunity for triple tax benefits and lower insurance premiums. However, consumers have traditionally feared the high deductible paired with the requirement to grow their HSA balance before they can pay for expenses. HealthEquity’s Balance Booster allows employers to make funds available on ‘day one’ for immediate access to account holders when they need them.
For more information, visit www.HealthEquity.com/BalanceBooster.
Founded in 2002, HealthEquity is one of the nation's largest dedicated health savings custodians. The company's innovative technology platform and tax-advantaged accounts help members build health savings, while controlling health care costs. HealthEquity services more than 2.3 million health savings accounts for 80 health plan partners and employees at more than 33,000 companies across the United States.