SAN FRANCISCO--(BUSINESS WIRE)--Ubiquity Retirement + Savings, the first flat-fee 401(k) provider for small businesses nationwide, today announced a partnership with HealthEquity, Inc. (NASDAQ: HQY), the nation’s largest health savings account (HSA) non-bank custodian, to encourage individuals to save toward their future while also saving for healthcare expenses.
The integration of Ubiquity Retirement + Savings and HealthEquity will encourage employers and their employees to invest in both HSAs and 401(k)s, maximizing tax benefits, contribution rates, investment returns and increasing overall savings. While 401(k)s and HSAs have benefited sophisticated savers separately over the last several years, the market has failed, to this point, to produce a viable combination of the two accounts that can be easily accessed and managed by small businesses.
“Traditionally, it’s proved to be a challenge for 401(k) and HSA providers to meet the needs of small business owners and their employees,” said Chad Parks, CEO Ubiquity Retirement + Savings. “Because of our innovative cloud-based software and the ability to intelligently and safely exchange far more data than ever before, Ubiquity is able to partner with established brands like HealthEquity and deliver small-business Fortune 500-style advantages at an affordable cost.”
"Employers have been asking for a comprehensive investment strategy that ties health and retirement benefits together. By partnering our services, we can provide a streamlined solution that makes the administration of a total benefits plan much easier for employers,” said Jon Kessler, President and CEO of HealthEquity. “Empowering employees to make decisions about consumer-driven healthcare and retirement together will create a long-term plan for retirement savings.”
Ubiquity and HealthEquity will offer optimal contribution and investment strategies to employers while employees will be able to see their 401(k) and HSA balances from either platform.
About Ubiquity Retirement + Savings
Ubiquity Retirement + Savings has helped savers contribute over $2 billion towards their retirement since 1999. As one of the first flat-fee-for-service small business plan providers in the nation, Ubiquity delivers peace-of-mind with zero hidden-fees in the fine print. The company is headquartered in San Francisco with satellite offices from coast to coast.