Further
- Company typePrivate
- Founded1989
- HeadquartersEagan, United States
- Headcount251–500
- GTM typeB2B and B2C
- OfferingServices
Further firmographics
Firmographics- Name
- Further
- Legal name
- Further Operations, LLC
- Website
- https://hellofurther.com
- Company type
- Private
- Founded year
- 1989
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Ownership category
- akta.pro rank
Further industry classification
Industry- Product category
- Health Spending Account Administration
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Health and Welfare Funds (525120), Professional Employer Organizations (561330)
- SIC
- Accident & Health Insurance (6321), Insurance Agents, Brokers & Service (6411), Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
- akta.pro secondary industries
- Eligibility, Enrollment & Benefits Administration (HLAEALAH), COBRA & Direct Billing Administration (HLAEALAC), Benefits Administration & Enrollment Support (BPAAAIAB), High-Deductible Health Plans (HDHP) with HSA-Eligible Coverage (FSAIAFAM)
Keywords
Where Further is headquartered
LocationHeadquarters
- HQ city
- Eagan
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Further business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales
Revenue model
- HSA Administrative Fees (Employers): Employers pay monthly administrative fees for HSA plans. Further offers custom pricing for employer groups with tiered plan designs (Premium, Value, Select HSA).
- HSA Administrative Fees (Individuals): Individual HSA holders pay monthly administrative fees ranging from $1.00 to $4.00 per month depending on plan tier selected.
- Interest on Account Balances: Further earns interest on HSA balances held in accounts, with competitive crediting rates offered to account holders at various balance tiers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Further Premium HSA - Premium tier with highest interest rates |
| Subscription | Monthly | Further Value HSA - Mid-tier balance option |
| Subscription | Monthly | Further Select HSA - FDIC-insured option |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels9 records
Further product offering
Product offeringCore offering
Further is a leading U.S. administrator of health spending accounts, offering Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), Flexible Spending Accounts (FSAs), Voluntary Employee Beneficiary Associations (VEBAs), and related products such as COBRA administration. The company serves employers and health plans (including via white-label administration) as well as individual consumers nationwide, and operates the business on a proprietary technology platform that unifies account management, a single debit card, and a mobile app.
Product overview
Further is a health spending account administration platform offering a suite of connected products for managing healthcare finances. The core product portfolio consists of Health Savings Account (HSA), Health Reimbursement Arrangement (HRA), Flexible Spending Account (FSA), and Voluntary Employee Beneficiary Association (VEBA), along with COBRA continuation services. Additional products include Dependent Care Assistance Program (DCAP), Adoption Assistance Program (AAP), Transportation Reimbursement Account (TRA), and Premium Only Plan (POP). The platform is built around a proprietary technology with features including one dashboard for accessing all accounts, one debit card for multiple spending accounts, and one mobile app for account management. The company was acquired by HealthEquity on November 1, 2021.
Differentiator
Problem solved
Functional benefit
Products and services
- Health Savings Account (HSA) A consumer-owned savings account offering triple tax savings — tax-free contributions, tax-free growth/interest, and tax-free qualified withdrawals — used to pay for qualified medical expenses, with portability across jobs, health plans, and retirement. Available to employers, health plans (white-label), and individual consumers.
- Health Reimbursement Arrangement (HRA)
- Flexible Spending Account (FSA) A personal expense account that works with employers' health plans, allowing employees to set aside a portion of salary pretax to pay for qualified medical expenses, while employers save on payroll taxes.
- Voluntary Employee Beneficiary Association (VEBA)
- COBRA Administration
- Dependent Care Assistance Program (DCAP) An employer-sponsored account that allows individuals to set aside pretax dollars to pay for day care and other dependent care expenses required to work.
- Adoption Assistance Program (AAP) An employer-sponsored spending account allowing both employer and employee contributions to pay for eligible adoption-related expenses, using pretax employee contributions.
- Transportation Reimbursement Account (TRA) An account that allows individuals to set aside pretax salary to pay for transit, parking, and vanpooling commuting expenses, decreasing taxes and increasing take-home pay.
- Premium Only Plan (POP) A plan that allows employees to pay for their portion of employer-provided health and/or dental plans with pretax dollars, allowing employers to save on payroll taxes.
Quantifiable outcome
- 96% customer satisfaction rating
- +1 more outcomes
Companies that use Further
Customer profileSegments3 records
Ideal customer profiles3 records
Further technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Further partnerships and signals
Strategic signalScale indicators3 records
Recent moves6 records
Expansion highlights5 records
Further competitors and assessment
Company assessmentDirect peers
- WEX Health: WEX Health provides technology and administration for HSAs, FSAs, HRAs, COBRA, and commuter benefits, selling both direct to employers and white-label to health plans and banks — a near-identical go-to-market and product set as Further.
- Benefit Resource: Benefit Resource administers COBRA, FSA, HRA, HSA, commuter, and tuition benefit accounts for employers and third-party administrators. Closely comparable product portfolio and target market to Further, particularly on employer-side benefits outsourcing.
- HealthEquity: Further's parent company (NASDAQ: HQY) and "the nation's largest non-bank HSA custodian." HealthEquity administers HSAs, FSAs, HRAs, and COBRA for employers and health plans nationwide, directly overlapping Further's product suite, target buyers, and white-label distribution model.
- Optum Financial (ConnectYourCare): Optum (UnitedHealth Group) acquired ConnectYourCare, a leading HSA, FSA, and HRA administrator serving large employers and health plans. Operates the same consumer-directed health benefits model as Further, with similar white-label and direct-to-employer distribution.
- Fidelity HSA: Fidelity's HSA platform is one of the largest in the market, combining HSA custody with brokerage investment options. Competes directly with Further on individual HSA enrollment and large employer relationships.
- HSA Bank (Webster Bank / HPS): A leading HSA custodian offering HSA, FSA, and HRA administration to employers, individuals, and health plans with FDIC-insured cash sweep options. Directly competes with Further for employer HSA contracts and individual account holders.
- Bank of America HSA: Bank of America offers an HSA product alongside Preferred Rewards cash-back incentives, competing for employer-sponsored HSA programs and individual accounts on the same dimensions (fees, interest, integrated banking) as Further.
Emerging players
- Lively: Lively is a modern HSA custodian with a no-fee individual HSA product and growing employer channel. Targets the same consumer-driven health benefits space as Further, particularly tech-forward employers and individual consumers.
Broad incumbents
- Benefitfocus: Benefitfocus (now part of Voya Financial) provides a broad benefits enrollment and administration platform for health, welfare, and voluntary benefits including CDH accounts. Overlaps Further on enrollment, FSA, and HRA administration but positions as a wider benefits marketplace.
- Voya Financial (Voya Benefits): Voya offers full-service benefits administration including HSAs, FSAs, HRAs, COBRA, and commuter benefits as part of a broader retirement and employee benefits suite — competing for large employer benefits outsourcing deals where Further is also in consideration.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks7 records
Key highlights6 records
Customer concentration
Further social profiles
Digital presenceFurther financial estimates
Financial estimateRevenue estimate
Valuation estimate
Further leadership team
Management profileNumber of profiles
Profiles6 records
Further funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Further 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 Further
What does Further do?
Further is a leading U.S. administrator of health spending accounts, offering Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), Flexible Spending Accounts (FSAs), Voluntary Employee Beneficiary Associations (VEBAs), and related products such as COBRA administration. The company serves employers and health plans (including via white-label administration) as well as individual consumers nationwide, and operates the business on a proprietary technology platform that unifies account management, a single debit card, and a mobile app.
Is Further a public or private company?
Further is a private company. It is classified as corporate owned and is currently operating.
When was Further founded?
Further was founded in 1989. It employs 251 to 500 people.
Where is Further based?
Further is headquartered in Eagan, United States, in the North America region.
How does Further make money?
Three revenue lines are on record. HSA Administrative Fees (Employers) is the primary driver. The others are HSA Administrative Fees (Individuals) and interest on Account Balances.
Who are Further's main competitors?
Direct peers on record are WEX Health, Benefit Resource, HealthEquity, Optum Financial (ConnectYourCare), Fidelity HSA, HSA Bank (Webster Bank / HPS) and Bank of America HSA. Lively is listed as an emerging player. Broad incumbents are Benefitfocus and Voya Financial (Voya Benefits).
Does Further have an API?
No public API is recorded for Further.
What industry is Further in?
Further's product category is Health Spending Account Administration. Its primary akta.pro industry code is HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA), with a secondary code of HLAEALAH, Eligibility, Enrollment & Benefits Administration. Its NAICS code is 524292 and its SIC code is 6321.