Vested Health

Vested Health, established in 2001, operates as a provider in the consumer-driven health plan marketplace. The company specializes in the design, implementation, and third-party administration of various health plans. Its core business revolves around offering Consumer-Directed Health Plans (CDHPs), which include Health Reimbursement Arrangements (HRAs), Retiree Health Reimbursement Arrangements (RHRAs), Flexible Spending Accounts (FSAs), and Health Savings Accounts (HSAs).

The firm's business model is centered on providing these administrative services to a client base that primarily consists of employers and is accessed through brokers. By focusing on defined contribution health strategies, Vested Health aims to assist employers in managing their overall financial and human capital objectives for their employee benefit programs. In essence, the company functions as an independent administrator, unassociated with any specific insurance carrier or financial institution, which allows it to develop a proprietary HRA platform. This platform is designed to give both employers and their employees greater control over healthcare expenditures.

A significant milestone in the company's history occurred in late 2014 when The Health Plan announced its intention to acquire Vested Health, a deal that was anticipated to close by the end of that year. The acquisition was completed on January 12, 2015. At the time of the acquisition announcement, Shawn Armstrong was the President and CEO of Vested Health. The strategic rationale for the acquisition by The Health Plan was to expand its own product offerings with a more extensive suite of consumer-driven health products. Before the acquisition, Vested Health had secured early-stage venture capital funding in 2003 and 2004 from investors including Adena Ventures, Capvest Venture Fund, Custer Capital, Mountaineer Capital, and West Virginia Jobs Investment Trust Board.

Keywords: Vested Health, consumer-driven health plans, CDHP, health reimbursement arrangement, HRA, flexible spending account, FSA, health savings account, HSA, third-party administration, employee benefits, retiree health benefits, The Health Plan, Shawn Armstrong, defined contribution health, healthcare cost control, benefit plan administration, consumer directed health, health plan marketplace, employer health solutions, benefit program management