Provider Voice in the Boardroom: Gassen Joins HealthEquity's Board

DRAPER, Utah – March 30, 2026 – HealthEquity, the nation's largest custodian of health savings accounts (HSAs), has appointed William ‘Bill’ Gassen, the president and CEO of Sanford Health, to its board of directors. The move, effective March 26, is a significant strategic maneuver that places a powerful voice from the front lines of healthcare delivery directly into the boardroom of a leader in consumer-directed finance.

This appointment expands HealthEquity's board to 10 directors and signals a deeper push to bridge the often-vast divide between healthcare provision and payment. Gassen, who leads the largest rural health system in the United States, brings a granular understanding of hospital operations, patient financial pressures, and the systemic challenges of care delivery—experience that is poised to directly influence HealthEquity's strategy as it navigates an increasingly complex market.

A Strategic Convergence of Care and Cost

By adding a seasoned healthcare system executive, HealthEquity is gaining more than just a new director; it is embedding a provider-side perspective into its core governance. Gassen's leadership at Sanford Health, an integrated system with 57 hospitals, a health plan, and over 55,000 employees, gives him a unique vantage point on the very friction points HealthEquity aims to solve for its 17.8 million account holders.

HealthEquity’s chairman of the board, Robert Selander, highlighted this strategic value in the company's announcement. “Bill brings deep insight into how care is delivered, how it is financed and where consumers, providers and employers face the greatest friction in the healthcare system,” Selander stated. “His experience leading a large, complex health system will strengthen our perspective as HealthEquity continues to expand how we help people save for and pay for healthcare.”

This perspective is particularly timely. Under Gassen, Sanford Health has been aggressively focused on transformation, completing a major merger with Marshfield Clinic Health System in 2025 and establishing a new value-based care committee in early 2026. This committee, co-chaired by Gassen, is tasked with aligning care delivery with financing to improve patient outcomes and lower total costs—a mission that mirrors HealthEquity's own goals of empowering consumers to make more informed financial decisions about their health.

Navigating a Dynamic Market from a Position of Strength

The appointment comes as HealthEquity continues to solidify its market leadership. The company reported strong results for its 2026 fiscal year, with revenue climbing 9% to $1.31 billion and net income more than doubling to $215.2 million. Its growth has been fueled by a multi-pronged strategy of deepening partnerships, enhancing its technology, and pursuing strategic acquisitions.

A prime example is the 2025 acquisition of the BenefitWallet HSA portfolio, which added approximately 616,000 accounts and $2.7 billion in assets. This move reinforced HealthEquity’s scale in a competitive landscape that includes specialized fintech firms like WEX and Lively as well as financial giants like Fidelity and Bank of America. With custodial fees tied to interest rates and growing balances, HealthEquity's financial health provides a stable platform for strategic evolution.

Gassen's experience with large-scale integration, demonstrated by Sanford Health's recent mergers, aligns with HealthEquity's own growth-by-acquisition trajectory. His presence on the board could provide valuable guidance as the company continues to absorb new portfolios and expand its footprint in the consumer-directed benefits space.

A Champion for Affordability and Digital Innovation

Gassen’s own words underscore his focus on the end-user: the patient and employee navigating a costly and often confusing system. “Affordability in healthcare continues to be a real challenge for many families and employers, and HealthEquity serves an important role in helping people prepare for and pay for care,” Gassen said. “I’m honored to join the board and support the company’s work to help people save for healthcare and make informed decisions about their healthcare spending.”

His influence extends beyond traditional healthcare delivery. Gassen also serves on the board of Oscar Health, a technology-first health insurance company known for its digital member experience. This dual perspective places him at the nexus of three critical sectors: care delivery (Sanford), health tech insurance (Oscar), and now health finance (HealthEquity). This unique positioning could foster powerful synergies, particularly as HealthEquity invests more in its own digital and AI-powered tools to simplify the member experience.

Oscar Health’s focus on leveraging AI to improve efficiency and member support, along with its aggressive push toward profitability in 2026, provides a relevant case study in technology-driven transformation. Gassen's insights from that experience could prove invaluable as HealthEquity seeks to further differentiate itself through technological innovation and superior customer service.

Bolstering Governance and Strategic Oversight

Beyond strategic vision, Gassen's appointment significantly enhances the board's functional expertise. He will serve on both the Audit and Risk Committee and the Talent, Compensation and Culture Committee, roles for which his background is exceptionally well-suited.

As CEO of a massive, highly regulated health system, Gassen has deep, practical experience in enterprise risk management, financial oversight, and navigating complex compliance frameworks like HIPAA. This background is critical for the Audit and Risk Committee, which is responsible for overseeing financial integrity and mitigating a growing array of threats, from cybersecurity to regulatory changes.

Likewise, his role on the Talent, Compensation and Culture Committee leverages his experience leading a workforce of over 55,000 employees. He has firsthand knowledge of the challenges of talent acquisition, executive compensation, and culture-building within the competitive healthcare sector. This expertise will be vital as HealthEquity scales its operations and competes for top talent. His appointment, which makes him the eighth independent director on the 10-member board, reinforces the company's commitment to robust and expert-led corporate governance.