Health Savings Accounts administrator HealthEquity (NASDAQ:HQY) launched a telehealth platform on Tuesday to connect HSA members with affordable GLP-1 weight loss drugs.
As part of the offering developed with licensed telehealth provider Agile Telehealth, patients and their families will be able to purchase GLP-1 obesity drugs, utilizing their HSA funds for potential tax advantages.
The popular GLP-1 injectables, such as Wegovy from Novo Nordisk (NVO) and Zepbound from Eli Lilly (LLY), indicated in the U.S. for weight loss, make up 6.7% of total drug costs, HealthEquity (NASDAQ:HQY) said.
“HSA members are already spending $42 billion annually on medical expenses, including GLP-1 medications,” CEO Scott Cutler noted, adding “our new initiatives make these essential purchases more accessible, integrated, and cost-effective—all within the platform our members already use.”
In the future, the company plans to expand the platform to provide HSA members with other healthcare solutions at affordable rates.
Concurrently, HealthEquity (HQY) announced the launch of a direct HSA enrollment platform in conjunction with National HSA Awareness Day and the beginning of open enrollment season.