ConnectYourCare

About ConnectYourCare

ConnectYourCare, now part of Optum Financial, operates as an administrator of consumer-directed healthcare accounts. The company was founded in 2002 by a team of experts, including R. Jamie Spriggs, who aimed to simplify affordable healthcare access for U.S. companies and their employees. Spriggs brought over 20 years of leadership experience in insurance and benefits administration, with a focus on marketing, IT, sales, and operations, to pioneer a platform for tax-advantaged health accounts. Over its history, the firm has seen several ownership changes, including an acquisition by Express Scripts in 2007, a subsequent divestiture in 2012 placing it under ABS Capital Partners, and culminating in its acquisition by Optum in November 2020.

The company's core business revolves around providing third-party administration for a variety of tax-advantaged employee benefits. Its clientele consists of employers of all sizes and industries, health plans, and financial institutions. Revenue is generated by administering these benefit accounts. The firm provides a proprietary, cloud-based platform that facilitates the management of Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and other commuter and COBRA benefits. These services allow employees to use pre-tax dollars for qualified medical, dependent care, and transportation expenses, thereby reducing their taxable income.

ConnectYourCare's product suite is designed to streamline benefits management for employers and enhance value for employees. A key offering is the "HSA On Demand" solution, which accelerates HSA contributions to cover employees' out-of-pocket expenses, particularly at the beginning of a plan year when account balances might be low. This feature acts as a safety net, encouraging adoption of high-deductible health plans by mitigating financial risk for employees. The platform provides intuitive tools for account management and educational materials to help consumers navigate their healthcare savings. Following the acquisition by Optum, the service has been integrated into the Optum Financial brand, aiming to combine expertise in health and finance to improve the customer experience.