How a Side Hustle Evolved Into One of the Largest HSA Providers

Challenges in healthcare impact every player—payers, HSA providers, and patients. What’s the modern-day answer to rising costs and better care? It’s a complex answer, and Steve Neeleman, Founder & Vice Chairman of HealthEquity, spoke with I Don’t Care host Kevin Stevenson on the topic.

After working for Southwest Airlines, Neeleman graduated from medical school and served as a trauma surgeon. At the same time, he started HealthEquity. “The question was why don’t we treat our customers, patients, the same way we did at Southwest. The notion became consumer-directed healthcare, opening up opportunities for them to make better choices.”

Personal health issues also sparked the ideas around managing health savings accounts (HSAs). He and his daughter faced these, with high out-of-pocket costs. Something that many insured people experience every day.

“HIPAA had a pilot program for HSAs and then extended it. It’s your money, and you don’t pay taxes on it. It functions like a 401K,” Neeleman explained.

Neeleman described the future of HSA providers and healthcare spending, citing its need to connect with centers of excellence. He recalled that after passing his surgical boards, he wasn’t an expert at every surgery because medicine is complicated. “Centers of excellence have completed a procedure many times. If you marry that with consumer-directed healthcare, payers will direct patients there because it saves money, and the quality of care is better.”

Educating patients about health savings account and concepts of navigating their healthcare is part of the equation. Neeleman also speaks to doctors about them. “Doctors are trying to embrace consumerism. They didn’t use to have to be attractive to get patients.”

More Stories Like This:

Transforming How Lower-Middle Market Healthcare Firms are Represented

Which Innovations Are Set to Transform the Medical Device Market?

Regulation F Brings New Regulations to Debt Collection. Here’s How It Impacts Healthcare.

Follow us on social media for the latest updates in B2B!

Image

Latest

DXpedition
Icom Powers 3Y0K : Ham Radio’s Most Ambitious DXpedition to Remote Bouvet Island Part 1
July 11, 2025

Bouvet Island sits at the edge of the world. It is frozen, uninhabited, and almost impossible to access. Fewer people have set foot there than in space. That level of remoteness is exactly what makes it so valuable to amateur radio operators. The island ranks tenth on ClubLog’s list of Most Wanted DXCC entities,…

Read More
entrepreneurial success
The Hidden Key to Entrepreneurial Success: Build Momentum Through Personal Branding and Authentic Networking
July 10, 2025

What if the biggest pivot of your career started with a conversation?  In this episode of Professional Quotient, host Jason Winningham welcomes Fanny Dunagan, CEO and Content Strategist of PathLynks, LLC. Fanny shares her journey from high-pressure consulting in Singapore to founding her own media and branding company — and why learning to network…

Read More
Q2 2025
RM Q2 2025 Wrap Up
July 9, 2025

Rogue Marketing continues to lead with intention in a space often driven by noise. Q2 2025 reflected a strategic focus on substance, where each initiative supported long-term brand growth. The team transformed internal recognition efforts into enduring brand assets and refined event strategies through immersive, results-driven experiences. Website launches during the quarter balanced visual…

Read More
amateur radios
Hamvention Spotlight: Emergency Preparedness Led PrepHam Paul to Amateur Radios and a Rising Voice in the Field
July 9, 2025

PrepHam Paul (K5VLP) celebrated his first visit to Dayton Hamvention by marking a major channel milestone. He hosted a giveaway of the  IC-2370B mobile radio from Icom to thank viewers for helping him reach 10,000 subscribers. His passion for emergency preparedness, rooted in his experience as an Eagle Scout and later studies in emergency management,…

Read More