HealthEquity HQY recently announced a new collaboration with Paytient, a healthcare technology firm, to offer working professionals greater confidence in pursuing healthcare through Health Payment Accounts (HPAs).

This new partnership is likely to enhance working professionals’ access to healthcare. HPAs offer a no-interest, no-fee option for employees to pursue medical care with flexible payment terms. As a result of the partnership, a lot of employees are likely to onboard HQY’s platform where they can get the benefit of Health Savings Accounts (HSAs), along with the payment flexibility provided by Paytient. This collaboration is likely to increase HealthEquity’s customer base and help in addition to HSAs over time, thus increasing the company’s service segment revenues.

More on the HQY’s Latest Partnership

A significant percentage of workplace-insured Americans are deferring healthcare due to hefty costs. With HQY’s latest collaboration with Paytient, employers can now provide employees and their families with the opportunity to better manage copays for medical, dental, vision, prescription, and behavioral care over time by using HPAs. This benefit extends to veterinary care as well. This safety net reduces the burden and embarrassment associated with applying for credit, enhances access to necessary care, and helps employees save money on fees and interest.

The HPA benefit complements consumer-directed benefits such as Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Accounts (HRAs). With the HPA, employees can select the medical plan that best fits their families’ needs without worrying about draining their savings or going into debt.

No credit checks are required for HPA users, and there is no impact on credit scores for using an HPA. With a variety of customizable payment and payback options, members have control over their HPA payments. In the meantime, companies save money in the short term when workers select less expensive health insurance and in the long run when improved access to care lowers the number of costly claims.

Notable Developments for HQY

Recently, HealthEquity reported better-than-expected second-quarter fiscal 2025 results. The company witnessed solid top-line and bottom-line performances in the fiscal second quarter. Solid growth in HSAs also drove the top line. The solid uptick in total HSA assets in the reported quarter is promising. The expansion of both margins also bodes well. The recent deal with Paytient is likely to drive the number higher in the upcoming quarter.