Bloomberg Law
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Law
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

HealthEquity to Buy WageWorks in Health Savings Accounts Tie-Up

June 27, 2019, 12:06 PM

HealthEquity Inc. agreed to buy WageWorks Inc. for $2 billion to gain more access to the market for health savings accounts that allow U.S. consumers to spend tax-protected dollars for medical needs.

HealthEquity, based in Draper, Utah, expects the purchase to expand distribution of its products to employers and benefits advisers that provide health savings accounts and other benefits that are under consumers’ control, according to a statement June 27.

Such accounts have become an increasingly important part of coverage in the U.S. health-care market as consumers incur expenses that aren’t covered by insurance plans. President Donald Trump’s executive order ...