Bloomberg Law
June 27, 2019, 12:06 PM

HealthEquity to Buy WageWorks in Health Savings Accounts Tie-Up

John Lauerman
John Lauerman
Bloomberg News

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 ...