HealthEquity's AI-Powered Tool Recognized for Innovation in Streamlining Benefits Education

DRAPER, Utah, August 29, 2025 – HealthEquity, Inc. (Nasdaq: HQY), the nation's largest Health Savings Accounts (HSAs) and consumer-directed benefits administrator, today announced that its innovative AI-powered tool, HSAnswers, has been recognized with multiple industry awards for its groundbreaking approach to streamlining benefits education.

HSAnswers leverages advanced artificial intelligence to transform complex healthcare benefits information into accessible, easy-to-understand guidance for millions of account holders. The tool provides instant, reliable answers to questions about HSAs, FSAs, HRAs, and other consumer-directed benefits.

“We are honored that HSAnswers has been recognized for its innovation in making benefits education more accessible,” said Jon Kessler, President and CEO of HealthEquity. “Our mission has always been to connect health and wealth, and HSAnswers represents a significant step forward in empowering individuals to make informed decisions about their healthcare benefits.”

The awards recognize HSAnswers for its ability to deliver personalized, accurate responses to benefits questions using natural language processing and machine learning. Since its launch, the tool has handled millions of inquiries, helping members better understand their benefits options and make more informed financial decisions.

HSAnswers is available to all HealthEquity members through the member portal and mobile app. The tool covers a wide range of topics including eligible expenses, contribution limits, investment options, and tax advantages of health savings accounts.

Key features of HSAnswers include:

• Instant, AI-powered responses to complex benefits questions
• Natural language understanding for conversational interactions
• Personalized guidance based on individual account types and eligibility
• 24/7 availability across web and mobile platforms
• Continuous learning and improvement from member interactions

The recognition comes as HealthEquity continues to invest in technology solutions that simplify the healthcare benefits experience. The company serves more than 16 million accounts and partners with employers and benefits advisors nationwide to deliver innovative benefits administration solutions.

“AI has the potential to revolutionize how people interact with their benefits,” said Dr. Steve Neeleman, Founder and Vice Chair of HealthEquity. “HSAnswers is just the beginning of how we plan to use technology to make healthcare more affordable and accessible for everyone.”

For more information about HSAnswers, visit /hsanswers.

About HealthEquity

HealthEquity, Inc. (Nasdaq: HQY) is the nation's largest health savings account administrator, helping millions of Americans connect health and wealth. HealthEquity provides a comprehensive platform for managing health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), and other consumer-directed benefits. The company's innovative technology and personalized service help individuals save money, improve health outcomes, and build long-term financial wellness.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on HealthEquity's current expectations and beliefs concerning future developments and their potential effects on HealthEquity.

Media Contact

HealthEquity Corporate Communications
media@healthequity.com

Investor Contact

HealthEquity Investor Relations
ir@healthequity.com