Combination of Health Care Transparency and Health Spending Account Information Empowers Employees with a Holistic View into Their Health Activities and Costs
SAN FRANCISCO — July 2, 2013 — Castlight Health, the leader in Health Care Transparency, today announced a partnership with HealthEquity, the largest dedicated U.S. Health Savings Account (HSA) trust organization. With the integration of HealthEquity’s HSA data into the Castlight health care management suite, employees – for the first time – have one central location to view and manage their health care activities and costs, from finding a high-value provider to seamlessly managing the balance of their HSA account.
“For most individuals today, health care benefits are challenging to manage at best. Varying co-pays, piles of receipts and unexpected bills only increase the angst around already unruly health care costs in America,” said Nita Sommers, VP, Corporate and Business Development, Castlight Health. “With Castlight and HealthEquity, employees have easy access to all of their medical activity and HSA balance information in a single, personalized place, along with the ability to shop for high-quality, cost-effective providers. This is a powerful proposition that engages employees to take better control of their care and maximize the value of the health care investments.”
HSAs allow employees covered by HSA–qualifying health plans to contribute pre-tax dollars towards an HSA for future medical expenses. The integration of HealthEquity with Castlight will provide employers a frequent and high-touch avenue to engage employees across the wider spectrum of their benefits offerings. With the partnership, users of both Castlight Health and HealthEquity will be able to seamlessly view their HSA information directly through their personalized Castlight dashboard or the HealthEquity website.
“In our quest to continually offer new products that provide value for our members, we are pleased to partner with Castlight Health,” said Brad Bennion, VP, Product and Implementation, HealthEquity. “With greater transparency into their overall health care spending through Castlight, our members can make wiser decisions that leads to maximizing health savings.”
Founded in 2002, HealthEquity is the nation’s oldest and largest dedicated health savings custodian. Through efficient administration and innovative technology the company helps members build health care savings while controlling premium costs. HealthEquity works with more than 60 health plan partners and services more than 760,000 health care accounts for employees at more than 23,000 companies across the United States. To learn more, visit www.HealthEquity.com or call 1-866-346-5800.
About Castlight Health
Castlight Health enables employers, their employees, and health plans to take control of health care costs and improve care. Named #1 on The Wall Street Journal’s list of “The Top 50 Venture-Backed Companies” for 2011 and one of Dow Jones’ 50 Most Investment-Worthy Technology Start-Ups, Castlight Health helps the country’s self-insured employers and health plans empower consumers to shop for health care. Castlight Health is headquartered in San Francisco and backed by prominent investors including Allen & Company, Cleveland Clinic, Maverick Capital, Morgan Stanley Investment Management, Oak Investment Partners, Redmile Group, T. Rowe Price, U.S. Venture Partners, Venrock, Wellcome Trust and two unnamed mutual funds. For more information, please visit our web site at http://www.castlighthealth.com or call (415) 829-1400.
Castlight Health Press Contact:
Blanc & Otus for Castlight Health