{"id":430953,"date":"2021-02-08T16:05:31","date_gmt":"2021-02-08T21:05:31","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=430953"},"modified":"2021-02-08T16:05:31","modified_gmt":"2021-02-08T21:05:31","slug":"healthequity-reports-year-end-sales-metrics","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/healthequity-reports-year-end-sales-metrics\/","title":{"rendered":"HealthEquity Reports Year-End Sales Metrics"},"content":{"rendered":"

\nHSA Assets of $14.3 billion, up 24% year-over-year
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DRAPER, Utah, Feb. 08, 2021 (GLOBE NEWSWIRE) — HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity” or the “Company”), the nation’s largest health savings account (“HSA”) non-bank custodian, today announced HSA Assets and Total Accounts as of its fiscal year ended January\u00a031, 2021.<\/p>\n

The total number of HSAs as of January\u00a031, 2021 was 5.8 million, an increase of 8%, from 5.3 million as of January\u00a031, 2020. The Company closed its fiscal year 2021 with 12.8 million Total Accounts, the same as in the prior fiscal year. HSA Assets grew to $14.3 billion as of January\u00a031, 2021, an increase of 24% from $11.5 billion a year earlier.<\/p>\n

\u201cHealthEquity grows as Americans use the full power of HSAs to create healthcare security,\u201d said Jon Kessler, President and CEO of HealthEquity. \u201cAnd that\u2019s what happened this year as HSA Asset growth increased to 24% in total and 26% organically, HSA Assets topped $14 billion, and the team opened nearly 700,000 new HSAs, even in a difficult economic environment.\u201d<\/p>\n

\n Total Accounts (unaudited)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n (in thousands, except percentages)<\/strong>\n <\/td>\n\n January 31, 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\n January 31, 2020<\/strong>\n <\/td>\n\u00a0<\/td>\n\n % Change<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
HSAs<\/td>\n5,782<\/td>\n\u00a0<\/td>\n5,344<\/td>\n\u00a0<\/td>\n8<\/td>\n%<\/td>\n<\/tr>\n
New HSAs from Sales – Quarter-to-date<\/td>\n370<\/td>\n\u00a0<\/td>\n379<\/td>\n\u00a0<\/td>\n(2<\/td>\n)%<\/td>\n<\/tr>\n
New HSAs from Sales – Year-to-date<\/td>\n687<\/td>\n\u00a0<\/td>\n724<\/td>\n\u00a0<\/td>\n(5<\/td>\n)%<\/td>\n<\/tr>\n
New HSAs from Acquisitions – Year-to-date<\/td>\n\u2014<\/td>\n\u00a0<\/td>\n757<\/td>\n\u00a0<\/td>\n(100<\/td>\n)%<\/td>\n<\/tr>\n
HSAs with investments<\/td>\n333<\/td>\n\u00a0<\/td>\n220<\/td>\n\u00a0<\/td>\n51<\/td>\n%<\/td>\n<\/tr>\n
CDBs<\/td>\n7,028<\/td>\n\u00a0<\/td>\n7,437<\/td>\n\u00a0<\/td>\n(5<\/td>\n)%<\/td>\n<\/tr>\n
Total Accounts<\/td>\n12,810<\/td>\n\u00a0<\/td>\n12,781<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n%<\/td>\n<\/tr>\n
Average Total Accounts – Quarter-to-date<\/td>\n12,659<\/td>\n\u00a0<\/td>\n12,603<\/td>\n\u00a0<\/td>\n\u2014<\/td>\n%<\/td>\n<\/tr>\n
Average Total Accounts – Year-to-date<\/td>\n12,604<\/td>\n\u00a0<\/td>\n8,013<\/td>\n\u00a0<\/td>\n57<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

\n HSA Assets (unaudited)<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\n (in millions, except percentages)<\/strong>\n <\/td>\n\n January 31, 2021<\/strong>\n <\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\n January 31, 2020<\/strong>
\n
\n
\n <\/strong>\n <\/td>\n		\u00a0<\/td>\n\u00a0<\/td>\n\n % Change<\/strong>\n <\/td>\n\u00a0<\/td>\n<\/tr>\n
HSA cash with yield (1)<\/td>\n$<\/td>\n9,875<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n8,301<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n19<\/td>\n%<\/td>\n<\/tr>\n
HSA cash without yield (2)<\/td>\n244<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n383<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(36<\/td>\n)%<\/td>\n<\/tr>\n
Total HSA cash<\/td>\n10,119<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n8,684<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n17<\/td>\n%<\/td>\n<\/tr>\n
HSA investments with yield (1)<\/td>\n4,078<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,495<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n63<\/td>\n%<\/td>\n<\/tr>\n
HSA investments without yield (2)<\/td>\n138<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n362<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n(62<\/td>\n)%<\/td>\n<\/tr>\n
Total HSA investments<\/td>\n4,216<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n2,857<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n48<\/td>\n%<\/td>\n<\/tr>\n
Total HSA Assets<\/td>\n14,335<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n11,541<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24<\/td>\n%<\/td>\n<\/tr>\n
Average daily HSA cash with yield – Year-to-date<\/td>\n8,599<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n6,937<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n24<\/td>\n%<\/td>\n<\/tr>\n
Average daily HSA cash with yield – Quarter-to-date<\/td>\n$<\/td>\n9,060<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n$<\/td>\n7,791<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n16<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

(1) HSA Assets that generate custodial revenue.
(2) HSA Assets that do not generate custodial revenue.<\/p>\n

\n Business outlook<\/strong>\n <\/p>\n

For the year ended January\u00a031, 2021, the Company revised its previously provided outlook as follows:<\/p>\n