ConnectYourCare
ConnectYourCare is a U.S. health benefit account administrator offering HSAs, FSAs, and HRAs to employers and health plan sponsors through a broker distribution model, operating within the broader Optum Financial benefits platform.
- Company typePrivate
- Founded2002
- HeadquartersHunt Valley, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What ConnectYourCare does
ConnectYourCare is a U.S.-based health benefit account administrator founded in 2002 and headquartered in Hunt Valley, Maryland. The company provides a platform for administering Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), and Health Reimbursement Arrangements (HRAs), with its short description positioning it as offering a "fresh approach" that combines a simplified user experience. Its product portfolio aligns with the broader Optum Financial suite, which has expanded to include lifestyle spending accounts (LSAs) and commuter benefits, suggesting ConnectYourCare's offerings are now embedded within a larger integrated health-and-financial benefits platform serving employers, members, brokers, and consultants across the United States.
The business operates a B2B, employer-sponsored model, distributing through benefits brokers and consultants to U.S. employers and health plan sponsors. Specific pricing mechanics, revenue model details, technology stack, and customer logo data are not disclosed in the available source material. ConnectYourCare has raised approximately $18.4M in disclosed funding across two rounds (~$5.1M in January 2015 and ~$13.3M in November 2018) and operates with 101–250 employees, consistent with a mid-stage benefits-administration firm.
The company's strategic trajectory points toward deeper product integration and ecosystem expansion. Its association with Optum Financial indicates access to pharmacy, care navigation, and member-support capabilities, as well as digital tools (mobile app, HealthSafe ID) that strengthen member engagement. However, the source data does not detail the nature of the ConnectYourCare–Optum relationship, ownership structure, management team, or product-level technical architecture, limiting deeper due diligence.
ConnectYourCare firmographics
Firmographics- Name
- ConnectYourCare
- Website
- https://connectyourcare.com
- Company type
- Private
- Founded year
- 2002
- Headcount range
- 101–250 employees
- Short description
- ConnectYourCare is a U.S. health benefit account administrator offering HSAs, FSAs, and HRAs to employers and health plan sponsors through a broker distribution model, operating within the broader Optum Financial benefits platform.
- Ownership category
- akta.pro rank
ConnectYourCare industry classification
Industry- Product category
- Health Benefit Account Administration
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
Keywords
Where ConnectYourCare is headquartered
LocationHeadquarters
- HQ city
- Hunt Valley
- HQ country
- United States
- HQ region
- North America
Markets served
ConnectYourCare business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
ConnectYourCare product offering
Product offeringCore offering
ConnectYourCare provides health benefit account administration services, offering a simplified consumer experience for HSAs, FSAs, HRAs, lifestyle spending accounts, and commuter benefits. The company delivers these consumer-directed health account products primarily through employer-sponsored benefit programs, combining account-based savings tools with payment and management capabilities.
Differentiator
Problem solved
Functional benefit
Products and services
- Health Savings Accounts (HSAs) Tax-advantaged savings accounts that allow employees to set aside pre-tax dollars for qualified medical expenses; offered through employer benefit programs.
- Flexible Spending Accounts (FSAs) Employer-sponsored accounts that let employees use pre-tax dollars for medical and dependent care expenses.
- Health Reimbursement Arrangements (HRAs) Employer-funded accounts that reimburse employees for qualified medical expenses, including individual coverage HRAs and other HRA designs.
- Commuter Benefits Pre-tax accounts that help employees pay for commuting and transit expenses, offered through employer benefit programs.
- Lifestyle Spending Accounts Employer-funded accounts that allow employees to be reimbursed for lifestyle, wellness, or other approved expenses beyond traditional medical coverage.
Companies that use ConnectYourCare
Customer profileIdeal customer profiles1 record
ConnectYourCare technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
ConnectYourCare partnerships and signals
Strategic signalRecent moves4 records
Expansion highlights3 records
ConnectYourCare competitors and assessment
Company assessmentDirect peers
- HealthEquity: Largest independent HSA custodian and administrator in the U.S., also offering FSAs, HRAs and COBRA administration. Direct competitor to ConnectYourCare in employer-sponsored consumer-directed benefit accounts following its acquisition of WageWorks.
- HSA Bank (Webster Bank): Bank-affiliated HSA custodian and administrator offering HSAs, FSAs and HRAs to employers and individuals nationwide. Direct competitor in the same HSA/FSA/HRA TPA space.
- WageWorks (now part of HealthEquity): Pre-acquisition, WageWorks was a leading FSA/HRA/commuter benefits administrator and a primary direct competitor to ConnectYourCare in employer-sponsored consumer-directed benefits.
Broad incumbents
- Optum Financial (UnitedHealth Group): Healthcare-affiliated financial services arm offering HSAs, FSAs, HRAs, commuter benefits and lifestyle spending accounts at massive scale through UnitedHealth/Optum distribution. Competes directly with ConnectYourCare for large employer accounts.
- Benefitfocus: Benefits administration platform offering enrollment, decision support and adjacent account services. Overlaps with ConnectYourCare through employer benefits administration and HSA/FSA/HRA workflows.
- ADP TotalSource / ADP Benefits: Large payroll and HRIS provider that offers consumer-directed benefit account administration as part of a bundled employer suite. Competes for employer RFPs alongside pure-play TPAs like ConnectYourCare.
- Paychex: Payroll and HR solutions provider offering benefits administration including FSA/HRA administration. Competes with ConnectYourCare particularly in the small/mid-market employer segment.
Emerging players
- Lively: Modern HSA-focused platform targeting employers and individuals with a technology-led experience. Competes with ConnectYourCare particularly for tech-forward mid-market employers and consumer HSA accounts.
- Further: HSA, FSA and HRA administrator with a strong employer-platform focus. Direct overlap with ConnectYourCare in tax-advantaged account administration, particularly for mid-market employers.
- Take Command Health: HSA-focused platform with employer and individual offerings and integrated benefits-navigation tools. Emerges as a technology-forward alternative in the same HSA/FSA administration category.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat3 records
Key risks5 records
Key highlights4 records
Customer concentration
ConnectYourCare social profiles
Digital presenceConnectYourCare financial estimates
Financial estimateRevenue estimate
Valuation estimate
ConnectYourCare leadership team
Management profileNumber of profiles
ConnectYourCare funding detail
Funding detailFunding overview
Funding rounds2 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ConnectYourCare M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ConnectYourCare
What does ConnectYourCare do?
ConnectYourCare provides health benefit account administration services, offering a simplified consumer experience for HSAs, FSAs, HRAs, lifestyle spending accounts, and commuter benefits. The company delivers these consumer-directed health account products primarily through employer-sponsored benefit programs, combining account-based savings tools with payment and management capabilities.
When was ConnectYourCare founded?
ConnectYourCare was founded in 2002. It employs 101 to 250 people.
Where is ConnectYourCare based?
ConnectYourCare is headquartered in Hunt Valley, United States, in the North America region.
Who are ConnectYourCare's main competitors?
Direct peers on record are HealthEquity, HSA Bank (Webster Bank) and WageWorks (now part of HealthEquity). Broad incumbents are Optum Financial (UnitedHealth Group), Benefitfocus, ADP TotalSource / ADP Benefits and Paychex. Emerging players are Lively, Further and Take Command Health.
Does ConnectYourCare have an API?
No public API is recorded for ConnectYourCare.
What industry is ConnectYourCare in?
ConnectYourCare's product category is Health Benefit Account Administration. Its primary akta.pro industry code is HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA). Its NAICS code is 524292 and its SIC code is 6324.