HealthEquity-2026-JPM.pdf

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1、Copyright 2026 HealthEquity,Inc.All rights reserved.|HealthEquity does not provide legal,tax or financial advice.1Powering how Americans save,spend,and invest in healthInvestor presentation2200+Network partners1 in 4HSAs in the US are with us+100kclients2#1 HSA provider10.1MHSAs17.3MTotal Accounts$3

2、4.4BHSA assetsSource:HealthEquity key metrics reported as of Oct 31,2025.#1 HSA by number of accounts based on 2025 Midyear Devenir HSA report,October 9,2025.+6%YoY+15%YoY+5%YoY3Healthcare is becoming more consumer-drivenTraditional patientReliant on employer-chosen plans and blind pricing.“Ill go w

3、here my insurance tells me”Modern consumerEmpowered by transparency,choice,and portable wealth.“Ill shop for the best value for my health dollars”4$25K9%31 millionhealthcare cost increase in 20264healthcare cost per employee3adults have skipped or postponed care11 in 3For employersFor employeesHealt

4、hcare Affordability Is the Defining Challenge1 Kaiser Family Foundatio n,Americans Challenges with Health Care Co sts,202 52 West-Health Gallup Healthcare Survey,Nov 2 0243 Kaiser Family Foundation,2024 Employer Health Benefits Survey 4 Mercer,2025 National Survey of Employer-Sponsored Health PlansU

5、S adults borrowed money to pay for medial care25A simple,powerful financial toolTax-advantaged savings account for healthcarePre-taxcontributionsTax-free growthTax-free withdrawals6Enrollment is the starting point.Engagement drives value.Moving the HSA from a passive benefit to a strategic financial

6、 asset.HSAHigh DeductibleHealth PlanHSAImproved utilizationExpanded access Plan design Auto enrollment Health Payment Accounts Health&financial education Matching contributions Marketplace7Built for outcomes,not transactions8One flywheel.Multiple growth levers.SpendSaveInvestAverage annual saving an