HealthEquity launches GLP-1 platform and direct HSA enrollment service

DRAPER, Utah - HealthEquity, Inc. (Nasdaq:HQY), the nation’s largest Health Savings Account (HSA) administrator and an $8 billion market cap company with a "GREAT" financial health rating according to InvestingPro, announced Tuesday two new consumer initiatives aimed at expanding access to affordable healthcare solutions.

The company has launched a platform connecting HSA members with GLP-1 weight management medications and introduced a direct HSA enrollment service. Both offerings coincide with National HSA Awareness Day and the beginning of open enrollment season. Analysts maintain a strong bullish stance on the company’s growth trajectory, with 8 analysts recently revising their earnings estimates upward, according to InvestingPro data.

The GLP-1 telehealth offering, developed in partnership with Agile Telehealth, allows members to access weight management solutions through the HealthEquity app and web portal with seamless HSA payment processing. According to the company, GLP-1 medications now represent 6.7% of total drug costs, with some pharmacy coalitions reporting that five GLP-1 drugs account for 21% of overall prescription costs.

The direct HSA enrollment platform enables individuals to open and fund HSAs directly through HealthEquity’s digital platforms. This service supports recent Affordable Care Act regulatory changes that will make Bronze plans HSA-qualified beginning in 2026, potentially making over 7 million Americans newly eligible for HSAs.

"Healthcare costs continue to outpace wage growth, forcing families into impossible choices between their health and their financial security," said Scott Cutler, President and CEO of HealthEquity, in the press release.

HSA assets reached nearly $147 billion across over 39 million accounts by year-end 2024, with members spending $42 billion in 2024, a 10% increase from 2023, according to information provided in the company statement.

Both initiatives are now available through the HealthEquity mobile app and website. The company’s strong execution is reflected in its impressive 15.45% revenue growth over the last twelve months, with a healthy current ratio of 4.23 indicating robust liquidity. For deeper insights into HealthEquity’s financial performance and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports, which are available for over 1,400 US stocks.

In other recent news, HealthEquity reported robust financial results for the second quarter of fiscal year 2026, significantly surpassing analyst expectations. The company achieved an earnings per share of $1.08, exceeding the projected $0.92. Additionally, HealthEquity’s revenue reached $325.9 million, surpassing the anticipated $320.74 million. These strong earnings results reflect positively on the company’s financial health. In a separate development, HealthEquity announced the appointment of two senior executives to its leadership team. Mukund Ramachandran will take on the role of Chief Marketing Officer, while Garett Kitch will serve as Senior Vice President of Client Sales & Relationship Management. These appointments are part of HealthEquity’s strategic preparation for the expansion of Health Savings Account (HSA) eligibility. These recent developments indicate a period of growth and strategic planning for the company.

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