Further

In 1989, a company was founded with a clear focus on administering health spending and savings accounts. This firm, originally known as SelectAccount, set out to help people manage the financial side of their healthcare by offering products like Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs). The business was built from within a health plan, giving it a unique perspective on the needs of healthcare consumers. The core of the business was to provide a unified service where account management, customer support, and technology operated together, simplifying the experience for employers and individuals. A key moment in the company's story came in April 2018 when SelectAccount rebranded to become Further. Led by CEO Matt Marek, this change wasn't about new ownership but about better reflecting the company's mission to go 'further' for its clients. The new brand aimed to highlight its dedication to providing tools and resources for smart healthcare spending decisions. At the time of the rebranding, the company managed over $1.2 billion in assets for its 20,000 clients. The next major chapter unfolded in 2021 when HealthEquity, the nation's largest independent HSA custodian, announced its definitive agreement to acquire Further. This strategic move was completed on November 1, 2021. The acquisition brought approximately 550,000 new members and $1.7 billion in HSA assets to HealthEquity, solidifying its leadership in the market. For Further, this meant becoming part of a larger entity, enabling expanded technological capabilities and a broader product suite for its clients.