Health-E Commerce

What Health-E Commerce does

Health-E Commerce (legal entity FSA Store Inc.) is a private, U.S.-based digital health and wellness retail company that operates the first and largest e-commerce marketplaces exclusively for Flexible Spending Account (FSA) and Health Savings Account (HSA) eligible products and services. Founded in 2010 as FSA Store and expanded in 2015 with HSA Store, the company serves the 60-70+ million Americans enrolled in pre-tax health and wellness accounts, offering 2,500+ guaranteed-eligible products across its storefronts (fsastore.com and hsastore.com) plus the private-label brand Caring Mill and the corporate wellness marketplace WellDeserved Health. The underlying technology is an e-commerce retail platform with proprietary eligibility verification, the most comprehensive FSA/HSA eligibility lists on the web, award-winning educational Learning Centers, and the HSA ExpenseTracker mobile application for organizing pre-tax healthcare expenses across tax years.

The company generates revenue through a mix of direct e-commerce product sales, Caring Mill private-label sales (with a donation to Children's Health Fund per purchase), transaction-fee referrals to integrated telehealth providers including Talkspace, Wisp, Sesame, The TeleDentists, SmileSet, Everlywell, MEDVi, Remedy Meds, and Daybreak, and B2B2C distribution through a network of 250+ third-party administrators (TPAs) and benefits administration platforms including a portal integration with WEX. Pricing across the telehealth partners includes subscription models (e.g., Sesame dermatology from $59/month, mental health from $79/month; Talkspace monthly subscriptions with $100 first-time discount) and usage-based models (e.g., Everlywell lab testing on a pay-as-you-go basis), while retail product pricing varies by SKU with promotional discounts up to 50%.

Health-E Commerce was acquired by H.I.G. Capital in June 2024 for majority equity ownership, marking a transition to private equity-backed operation. The company operates with 101-250 employees across offices in Dallas (headquarters) and New York City, and serves customers across all 50 U.S. states. Its go-to-market combines direct-to-consumer e-commerce, content marketing, and SEO-driven organic search with a channel-partner motion through TPAs, benefits administrators, and industry conference sponsorships. The company has received Deloitte Technology Fast 500 recognition for five consecutive years (2016-2020), Crain's Best Places to Work in NYC for three consecutive years (2016-2018), the EY Entrepreneur of the Year award for its founder (2018), and Digital Health Awards for consumer health information programs.

Name

Health-E Commerce

Legal name

FSA Store Inc.

Website

https://health-ecommerce.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

101–250 employees

Short description

Health-E Commerce operates the first and largest U.S. e-commerce marketplaces exclusively for FSA- and HSA-eligible products and telehealth services, serving 60-70+ million pre-tax health account holders through FSA Store, HSA Store, Caring Mill, and WellDeserved Health, with 250+ TPA distribution partners and a 2024 acquisition by H.I.G. Capital.

Ownership category

akta.pro rank

Product category

Healthcare E-commerce

NAICS

Health and Personal Care Retailers (456), Other Health and Personal Care Retailers (45619)

SIC

Retail-Drug Stores And Proprietary Stores (5912)

akta.pro primary industry

Health, Wellness & Pharmacy Marketplaces (CRAFABAF)

akta.pro secondary industries

Health, Wellness & Pharmacy Online Retailers (CRAFADAG), Care Navigation, Advocacy & Benefits Guidance Platforms (HLALADAJ), Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)

Keywords

• FSA eligible products
• HSA eligible products
• Healthcare e-commerce
• Pre-tax benefits marketplace
• Telehealth services

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Digital Commerce or Content

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Supply Chain

Revenue model

1. E-commerce Product Sales: The company operates online marketplaces (FSA Store and HSA Store) where consumers purchase FSA and HSA-eligible health products. Revenue is generated through product sales at retail prices, with the company sourcing and selling thousands of health and wellness products.
2. Telehealth Service Referrals: Revenue through partnerships with telehealth providers (Talkspace, Wisp, Sesame, The TeleDentists, SmileSet, Everlywell, etc.) where the platform serves as a distribution channel for virtual healthcare services that are eligible for FSA/HSA purchase.
3. Private Label (Caring Mill): The company's proprietary private-label brand of health products, Caring Mill, generates revenue with each sale donating a portion to Children's Health Fund.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Health-E Commerce operates online marketplaces—primarily FSA Store and HSA Store—that sell thousands of guaranteed-eligible health and wellness products to the 100+ million U.S. consumers with pre-tax health benefits accounts. The platforms also distribute telehealth services (mental health, dermatology, dental, orthodontics, lab testing, weight loss) through partnerships, and offer an HSA ExpenseTracker mobile app, the Caring Mill private-label brand, and integrated eligibility education content.

Product overview

Health-E Commerce is a digital health and wellness retail platform operating multiple e-commerce brands that serve the tax-free healthcare marketplace. The core products are FSA Store (launched 2010) and HSA Store (launched 2015), which are the first and largest online marketplaces exclusively for FSA- and HSA-eligible products and services. Supporting the core platforms is Caring Mill (launched 2017), a private-label brand of health products that donates a portion of proceeds to Children's Health Fund, and WellDeserved Health (launched 2019), a wellness rewards shopping platform. The company has expanded into telehealth services through partnerships with providers including Talkspace (mental health), Wisp (acne and migraine care), The TeleDentists (dental care), SmileSet (orthodontics), Everlywell (lab testing), Sesame (mental health and dermatology), and Daybreak (sleep apnea), as well as weight management services through MEDVi, Remedy Meds, and ShedRx. A new telehealth brand called Patiently was launched for FSA-eligible weight loss and wellness care. The company also offers an HSA ExpenseTracker mobile app and operates an Optical shop for prescription eyewear. Through integrations with benefits administration providers like WEX, the platforms aim to simplify how employees utilize pre-tax health benefits. The portfolio serves over 70 million consumers enrolled in pre-tax health and wellness accounts and works with more than 250 third-party administrators.

Differentiator

Problem solved

Functional benefit

Brands

• FSA Store: First and largest online marketplace for FSA-eligible products with 2,500+ eligible products, educational content, and comprehensive eligibility list.
• HSA Store
• WellDeserved Health
• Caring Mill

Products and services

• FSA Store The first and largest online marketplace for flexible spending account (FSA) eligible products, offering 2,500+ guaranteed-eligible items plus educational content and the web's most comprehensive eligibility list.
• HSA Store Online marketplace for health savings account (HSA) users featuring guaranteed HSA-eligible products plus educational resources designed to maximize long-term tax-free health savings.
• Caring Mill Health-E Commerce's private-label brand of premium healthcare products, with a donation made to Children's Health Fund on every purchase to support healthcare for underserved children.
• WellDeserved Health The first direct-to-consumer e-commerce brand dedicated to making wellness-rewards shopping easier, giving employees new ways to spend corporate wellness rewards dollars.
• Patiently Telehealth brand for FSA-eligible weight-loss and wellness care, helping consumers access weight-loss medications and coaching through telehealth providers with personalized plans.
• HSA ExpenseTracker App Free mobile application that helps HSA users track and organize HSA-eligible expenses across tax years, connecting accounts, scanning receipts and categorizing expenses to simplify tax preparation and compliance.
• FSA Store Optical / HSA Store Optical Optical storefront on the FSA/HSA platforms offering prescription sunglasses, daily wear eyeglasses, contact lenses and supplies from top designer brands at discounts payable with FSA/HSA funds.
• Daybreak Sleep Apnea Device FDA-cleared device for snoring and sleep apnea with at-home sleep testing analyzed by board-certified physicians, offered as a CPAP alternative and purchaseable with FSA/HSA funds.
• Talkspace Mental Health Services Virtual behavioral-health counseling (therapy for individuals, teens, couples and psychiatric medication management) purchaseable with FSA/HSA funds via the FSA Store / HSA Store platforms.
• Wisp Telehealth Services Prescription telehealth treatments for hormonal acne and migraine relief purchaseable with FSA/HSA funds, providing personalized plans and same-day pharmacy fulfillment nationwide.
• The TeleDentists Virtual Dental Care On-demand virtual dental care offering 24/7 online access to licensed dentists for urgent dental concerns, purchaseable with FSA/HSA funds.
• SmileSet Orthodontic Care Teledentistry orthodontic service providing impression kits, clear aligners, retainers and night guards with licensed dental-professional oversight, purchaseable with FSA/HSA funds.
• Everlywell Lab Testing At-home lab testing service (Everlywell 360) with personalized health insights, biomarker analysis and optional clinical consultations, purchaseable with FSA/HSA funds.
• Sesame Mental Health and Dermatology Care Virtual mental health and dermatology care via Sesame's healthcare marketplace (4,000+ licensed providers across all 50 states) purchaseable with FSA/HSA funds, with subscription pricing from $59/month for dermatology and $79/month for mental health.
• MEDVi and Remedy Meds Weight Loss Prescription weight-loss medications and coaching delivered via telehealth providers (MEDVi and Remedy Meds), purchaseable with FSA/HSA funds.

Quantifiable outcome

• Nearly 50% of FSA account holders forfeit funds due to missed deadlines
• +2 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

13 partnerships are on record, tiered core and major.

• TalkspacecoreStrategic or Co-development Partner · 8 May 2026Integration enabling FSA Store and HSA Store customers to purchase virtual mental health counseling using pretax FSA or HSA dollars with $100 discount for first-time patients. Connects Talkspace's virtual behavioral health services to Health-E Commerce's retail platforms.
• AlegeuscoreGTM or Marketing Partner · 7 May 2026Platinum sponsor at Alegeus Partner Summit 2026 (May 18-20, Carlsbad, CA) showcasing e-commerce integration capabilities, eligibility education tools, and participant engagement solutions for TPAs.
• TalkspacecoreStrategic or Co-development Partner · 27 April 2026New telehealth collaboration allowing individuals to use FSA and HSA funds for virtual mental health counseling through FSA Store and HSA Store. First-time patients receive $100 off services. Partnership addresses mental health provider shortage affecting 37% of U.S. population in underserved areas.
• WEXcoreGTM or Marketing Partner · 27 April 2026Platinum sponsor at WEX SPARK Health & Benefits 2026 conference in Orlando, FL (April 27-29), showcasing technology solutions for FSAs, HRAs, and HSAs.
• DataPathmajorGTM or Marketing Partner · 9 April 2026Silver sponsor at DataPath Connections 2026 conference in Philadelphia (April 20-22) showcasing e-commerce technology integrations and educational resources for TPAs.
• WispcoreStrategic or Co-development Partner · 26 March 2026Expanded telehealth collaboration to include prescription treatments for hormonal acne and migraine relief. Patients in all 50 states gain access to personalized treatment plans within 72 hours with same-day pharmacy fulfillment.
• The TeleDentistsmajorStrategic or Co-development Partner · 5 March 2026Collaboration expanding access to on-demand virtual dental care services purchasable with FSA and HSA funds. Service offers 24/7 online access to licensed dentists for urgent dental concerns nationwide.
• WEXcoreTechnology or Integration · 12 January 2026Health-E Commerce announced integration of its FSA Store and HSA Store into the WEX benefits portal. The integration provides single sign-on access, real-time balance display, and direct payment capabilities, aiming to reduce fragmentation and confusion that leads to FSA/HSA underutilization among employees.
• SmileSetmajorStrategic or Co-development Partner · 15 December 2025Telehealth collaboration offering orthodontic products including aligners, retainers, and night guards through FSA Store and HSA Store. SmileSet provides FDA-cleared aligners made in the USA with teledentistry professional oversight.
• EverlywellmajorStrategic or Co-development Partner · 13 November 2025Collaboration providing Everlywell 360 lab testing service to FSA and HSA users. Service offers personalized health insights, biomarker analysis, and optional clinical consultations, expanding access to at-home diagnostics.
• MEDVimajorStrategic or Co-development Partner · 21 October 2025Expanded telehealth weight loss options to include MEDVi prescription weight loss medications and support through telehealth providers with personalized plans and coaching.
• Remedy MedsmajorStrategic or Co-development Partner · 21 October 2025Added to telehealth weight loss offerings, providing prescription weight loss medications and support through telehealth providers including personalized plans and coaching.
• SesamemajorStrategic or Co-development Partner · 19 May 2025Collaboration making Sesame's virtual mental health and dermatology care available on FSA Store and HSA Store. Consumers access thousands of licensed providers across all 50 states with dermatology starting at $59/month and mental health at $79/month.

Scale indicators15 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Amazon Pharmacy: Amazon Pharmacy accepts HSA/FSA payments and could integrate eligibility filtering and pre-tax payment into Prime checkout. As a broad incumbent with massive logistics and traffic advantages, it represents the most consequential potential competitor to Health-E Commerce's marketplace model.
• WEX (Health & Benefits): WEX operates a major benefits administration platform for FSAs, HSAs, and HRAs. WEX is both a partner (via portal integration) and a competitor, as it could surface its own marketplace or eligibility tools to its employer customers without routing through Health-E Commerce.
• Optum (UnitedHealth Group): Optum operates consumer healthcare marketplaces and benefits tools inside UnitedHealthcare's ecosystem. As a broad incumbent in healthcare services and benefits, it has the infrastructure to compete with Health-E Commerce on eligibility, navigation, and product fulfillment.
• Walgreens Boots Alliance: Walgreens operates a national drugstore chain that sells FSA/HSA-eligible products at scale and is expanding its primary care and digital health offerings. As a broad incumbent, it competes for the same pre-tax health wallet share both online and in-store.
• HealthEquity: HealthEquity is one of the largest HSA/FSA/HRA administrators and offers its own consumer marketplace for eligible products. While primarily an administrator, its member-facing shopping experience competes directly with Health-E Commerce's FSA Store and HSA Store.

Direct peers

• SingleCare: SingleCare is a direct peer offering consumer-facing discounts on prescriptions and health services. Like Health-E Commerce, it operates at the intersection of e-commerce and consumer-directed healthcare, targeting price-sensitive patients who want to maximize benefit dollars.
• GoodRx: GoodRx is a direct peer in the consumer health savings and benefits commerce space. It connects consumers to discounted healthcare products and services that can be paid with FSA/HSA funds, and competes head-on with FSA Store and HSA Store for the same wallet share.

Emerging players

• HSA Bank (Webster Bank): HSA Bank is a leading HSA custodian with millions of accounts and a marketplace for eligible products. It overlaps with Health-E Commerce on HSA shopping infrastructure and member education, though its primary business is account administration rather than commerce.
• Lively (formerly SelectAccount): Lively is an HSA-focused fintech and benefits platform with a member marketplace for eligible products. It is an emerging player competing with HSA Store for the HSA wallet, particularly among younger, digitally native consumers.

Others

• CVS Health (Aetna / Caremark): CVS operates the largest U.S. retail pharmacy and PBM network, with FSA/HSA payment acceptance at scale across thousands of storefronts. It is a broad incumbent competitor for pre-tax health spending, with stronger offline distribution than Health-E Commerce.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/healthecommerce

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Health-E Commerce