HealthEquity Presents at JP Morgan Gathering (HQY)

HealthEquity Inc. (HQY) is scheduled to present at the JP Morgan Healthcare Conference Monday in San Francisco. CEO Jon Kessler and CFO Darcy Mott will speak near the end of the opening-day festivities. The two executives also will engage in a series of one-on-one meetings, a press release reported.

Among the industry topics executives expect to cover during the four-day event include the sector’s current strength, highlighted by an increase of private funding, strategic bolt-on acquisitions and the reasons behind pharmaceuticals and biotech stock prices rising 5 percent since President-elect Trump won the election in November, according to a Deloitte press release.

A Draper, Utah-based health savings account (HAS) provider, HealthEquity had a market cap of $2.43 billion. Its stocks were trading at $40.63, an increase of .42 percent, as of 11:57 a.m. Monday.

Specializing in health care information services, HealthEquity serves more than 2.4 million health savings accounts for more than 33,000 domestic companies. When united with a high deductible health plan, a HealthEquity HSA provides opportunities for tax savings and lower premiums on insurance, a release stated. (See also: Pros And Cons Of A health savings account.)

To deepen the company’s offerings, it launched Balance Booster in December. Balance Booster is a feature accessible to companies with HealthEquity HSAs, providing members access to available funds early each year. (See also: What are catch-up contributions for health savings accounts (HSAs).)

“For years, flexible spending accounts were attractive because the total annual funding was made available up front,” said Brad Bennion, HealthEquity’s senior vice president of product. “With HealthEquity's Balance Booster, an HSA can now provide a similar benefit but with the added advantage of being a long-term savings account. There is no use-it-or-lose-it limitation.”

Chardan Capital Markets rated HealthEquity’s stocks as a Buy in December.

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