Last updated on
Company health
Ratings
HealthEquity description
HealthEquity is the leading administrator of Health Savings Accounts (HSAs) in the USA, boasting over 12 million accounts. They provide a technology platform and services that help individuals save, spend, and invest their healthcare dollars. Besides HSAs, they also manage other benefits like FSAs, HRAs, and commuter benefits, partnering with employers, health plans, and benefits advisors. Their focus on connecting health and wealth is reflected in tools that simplify healthcare spending and investment for a better financial future.
Who is HealthEquity best for
HealthEquity simplifies healthcare saving and spending for employers and employees. Its platform manages HSAs, FSAs, HRAs, and commuter benefits, offering investment guidance, expense tracking, and direct payment options. While praised for its user-friendly interface and payroll integrations, users have reported difficulties with customer service, claims processing, and high fees.
-
Ideal for medium to large businesses (101+ employees), especially those with 1000+ employees.
-
Best fit for Healthcare, Wellness & Pharma and Finance, Banking & Insurance companies.
HealthEquity features
Supported HealthEquity offers an AI chatbot, HSAnswers, to provide information and support regarding HSAs and other benefits. |
Supported HealthEquity's Savvy Saver program provides guidance on tax savings, comparing health plans, and finding generic medications. |
Supported HealthEquity's Smart Spender resources help users compare health plans, find generic medications, and maximize their benefits. |
Supported HealthEquity offers guidance and resources for investing HSA funds for long-term financial security. |
Supported HealthEquity's mobile app allows users to manage their HSA, FSA, HRA, and commuter benefits on the go. |
Supported Users can access live support via phone, email, and online chat. |
Supported HealthEquity integrates with various payroll platforms to streamline benefits management. |
We evaluate the sentiment that users express about non-functional aspects of the software
Value and Pricing Transparency
Customer Service
Ease of Use
Reliability and Performance
HealthEquity reviews
We've summarised 47 HealthEquity reviews (HealthEquity TrustPilot reviews and HealthEquity G2 reviews) and summarised the main points below.
- User-friendly interface and easy navigation.
- Convenient direct payment to providers and reimbursement options.
- Comprehensive expense tracking and receipt management.
- Helpful investment options for growing HSA savings.
- Seamless integration with payroll providers like Paychex.
- Difficulty contacting customer support and long reimbursement processing times.
- Confusing claims process, often not aligning with insurance claims.
- System errors, including transaction duplication and inaccurate data.
- High fees, including account closure and monthly maintenance fees.
- Inconvenient and restrictive access to HSA funds, especially during emergencies.
HealthEquity pricing
The commentary is based on 24 reviews from HealthEquity G2 reviews and HealthEquity TrustPilot reviews.
HealthEquity's pricing and fees are a common source of complaint. Users report unexpected charges, including monthly fees, transfer fees, and account closure fees. Many feel these fees are excessive and unreasonable for the services provided. Some users have had difficulty getting reimbursements or having claims paid, further compounding their frustration with the company's cost structure.
Users sentiment
HealthEquity alternatives
HealthEquity FAQ
HealthEquity is a leading HSA administrator in the USA, managing over 12 million accounts. They offer a technology platform and services for individuals and businesses to save, spend, and invest healthcare dollars. HealthEquity also administers FSAs, HRAs, and commuter benefits.
What is HealthEquity and what does HealthEquity do?
HealthEquity is a leading HSA administrator in the USA, managing over 12 million accounts. They offer a technology platform and services for individuals and businesses to save, spend, and invest healthcare dollars. HealthEquity also administers FSAs, HRAs, and commuter benefits.
HealthEquity integrates with various payroll platforms to streamline benefits management. It also offers a mobile app for managing benefits and an AI chatbot, HSAnswers, for information and support. However, users have reported system errors and difficulty accessing funds.
How does HealthEquity integrate with other tools?
HealthEquity integrates with various payroll platforms to streamline benefits management. It also offers a mobile app for managing benefits and an AI chatbot, HSAnswers, for information and support. However, users have reported system errors and difficulty accessing funds.
Top HealthEquity competitors include Circula, Alerus, Benepass, Wellable, Gusto, and Forma. These alternatives offer similar features such as HSA and FSA management, benefits administration, and wellness programs.
What the main competitors of HealthEquity?
Top HealthEquity competitors include Circula, Alerus, Benepass, Wellable, Gusto, and Forma. These alternatives offer similar features such as HSA and FSA management, benefits administration, and wellness programs.
HealthEquity is a legitimate company, but user reviews on platforms like Trustpilot reveal negative experiences with customer service, claims processing, and fees. However, their platform offers helpful HSA management tools and convenient features. Consider these factors when deciding if HealthEquity is safe and right for you.
Is HealthEquity legit?
HealthEquity is a legitimate company, but user reviews on platforms like Trustpilot reveal negative experiences with customer service, claims processing, and fees. However, their platform offers helpful HSA management tools and convenient features. Consider these factors when deciding if HealthEquity is safe and right for you.
I couldn't find pricing details for HealthEquity. For specific pricing information, it's best to contact HealthEquity directly or visit their official website. This will allow you to discuss your specific needs and get a tailored quote.
How much does HealthEquity cost?
I couldn't find pricing details for HealthEquity. For specific pricing information, it's best to contact HealthEquity directly or visit their official website. This will allow you to discuss your specific needs and get a tailored quote.
HealthEquity's customer service receives overwhelmingly negative feedback. Users report difficulty contacting support, long wait times, and unhelpful representatives. While some appreciate the online resources, many find the claims and reimbursement process confusing and frustrating.
Is HealthEquity customer service good?
HealthEquity's customer service receives overwhelmingly negative feedback. Users report difficulty contacting support, long wait times, and unhelpful representatives. While some appreciate the online resources, many find the claims and reimbursement process confusing and frustrating.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.
An AI tool that observes your work, finds inefficiencies, and suggests smarter ways to do things. Maybe you can use your tools better, automate tasks, or switch software.