Press Release

New AI Tool Helps Americans Get Immediate, Helpful Answers to HSA and Consumer-Directed Benefits Questions

Issued by HealthEquity

Oct. 15, 2024

HSAnswers provides employees with quick access to benefits knowledge and helps benefits teams save time answering questions

DRAPER, UT — HealthEquity, Inc. (Nasdaq: HQY) ("HealthEquity") in celebration of National HSA Awareness Day, has launched HSAnswers. Powered by a comprehensive and bespoke database of resources, research, and insights, the free-to-use AI chat tool can help individuals obtain clear answers to questions about HSAs and other consumer-directed benefits.  

In 2024 HealthEquity surveyed over 600 employees who said their top benefits challenge was being overwhelmed by the amount of information available to them. HSAnswers helps provide the extra support employees are asking for by serving up the answer for them without them having to dig through a mountain of information. HSAnswers offers instant, educational information about HSAs and other benefits.

“Understanding benefits can be complicated especially if you don’t know where to go to get answers or are intimidated to get help,” said Tene Raymond, director of consumer engagement at HealthEquity. “As open enrollment season gets underway, and employees evaluate their plans and benefit options, HSAnswers can be your personal benefits assistant—meaning that it can help educate and provide clarity around consumer-directed benefit (CDB) topics so you can make better decisions about what’s best for you and your family.”

The AI-powered tool does not generate responses outside of the data HealthEquity provides. HSAnswers focuses on content that helps visitors learn about a full range of CDB benefit products and resources including HSAs, FSAs, HRAs, and beyond. HSAnswers provides benefits answers people want when they need it. 

Visitors can find and use HSAnswers on the HealthEquity.com home page on the top navigation menu. Key features of HSAnswers include: 

• Instant responses: Users can obtain non-personalized answers to HSA-related inquiries in real-time, reducing the need for third-party support, prolonged web research, or waiting for customer service. 

• Curated knowledge base: Fueled by exhaustive data and information related to consumer-directed benefits, HSAnswers delivers helpful information from HealthEquity’s wealth of content and industry-leading HSA expertise. 

• User-friendly interface: HSAnswers has a simple user-interface designed for ease of use. Individuals simply click on “HSAnswers” from healthequity.com, follow initial prompts, and ask their HSA or other CDB-related questions. The tool is designed to make CDB answers accessible to everyone from tech-savvy individuals to those less familiar with digital tools. 

"With HSAnswers, we aim to help bridge the benefits knowledge gap and empower more Americans to take full control of their health and savings," said Raymond. "This tool represents our commitment to simplify benefit education and make healthcare benefits more accessible and manageable for everyone.”

About HealthEquity 

HealthEquity and its subsidiaries administer HSAs and various other consumer-directed benefits for over 16 million accounts, working in close partnership with employers, benefits advisors, and health and retirement plan providers who share our unwavering commitment to our mission of saving and improving lives by empowering healthcare consumers. Through cutting-edge solutions, innovation, and a relentless focus on improving health outcomes, we empower individuals to take control of their healthcare journey while ultimately enhancing their overall well-being. Learn more about our “Purple service” and approach at www.healthequity.com. 

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