Draper, UT (Vocus) April 20, 2010
HealthEquity, Inc., the nation’s first and largest health savings trustee, announced today that Michael O. Leavitt, former Secretary of Health and Human Services (HHS) under President George W. Bush and three-term governor of the state of Utah, has joined its Board of Directors. Leavitt is currently the Chairman of Leavitt Partners, a private firm that advises people who invest in health care and food safety.
With the appointment of Leavitt, HealthEquity gains one of the founding fathers of consumer-directed healthcare. Under Leavitt’s leadership, the federal government launched Health Savings Accounts (HSAs) to help individuals, families and businesses build healthcare savings and security while cutting insurance premiums. Leavitt implemented the Medicare Part D Prescription Drug Program, enabling 43 million seniors to purchase affordable prescription benefits from private insurers in a forerunner to today’s health insurance exchanges. HHS is responsible for $750 billion in federal spending, one-quarter of the federal budget, including Medicare and Medicaid.
Prior to leading HHS, Leavitt served three terms as Governor of Utah (1993-2003) and led the US Environmental Protection Agency (2003-2005).
“America’s health system needs to urgently cut costs while building health savings and security for employers and consumers,” said Jon Kessler, Executive Chairman of the Board of HealthEquity.” Governor Leavitt’s long record of experience and good judgment will be invaluable to our growth plans for HealthEquity as the nation responds to health care reform.”
“Over the years, I kept an eye on several companies that have done things right when it comes to healthcare financial services, and HealthEquity has been one of those companies,” states Leavitt. “I have been impressed with the level of service that HealthEquity provides and concluded that HealthEquity is well positioned for the future of health care reform. I am excited to be a part of HealthEquity.”
About HealthEquity®, Inc.
HealthEquity helps hundreds of thousands, save hundreds of millions of healthcare dollars, all day, every day. HealthEquity is a personal healthcare financial services company providing employers, health insurers, benefits administrators, and financial institutions with integrated healthcare account-based (HSA/HRA/FSA/VEBA) administration and a population-based health and wealth service platform. Every HealthEquity member is supported by 24/7 access to a knowledgeable HealthEquity Specialist dedicated to helping consumers better understand and manage the financial side of healthcare. To learn more about HealthEquity, please visit http://www.healthequity.com.
John J. Sweeney
HealthEquity, VP, Marketing