3 Stocks Tied To Rising HSA Use Including CVS Health Stock

Health Savings Accounts are quietly becoming a core part of how Americans pay for care, with more employers auto enrolling workers and pairing HSAs with high deductible health plans. That shift channels more money through platforms that handle contributions, custody, and investments. For investors, the question is which stocks may benefit most from this structural change. This article walks through three HSA exposed stocks from our screener and what the news could mean for each.

The three stocks highlighted below are just a sample from this idea, and the full screen surfaced 22 more companies with equally compelling narratives that are not covered in this article. To go deeper on this theme, head straight into the U.S. Health Savings Account (HSA) and Benefits Administration Platforms screener to analyze, compare, and identify your highest conviction HSA and benefits administration platforms.

GoodRx Holdings (GDRX)

Overview: GoodRx Holdings runs a U.S. prescription price comparison platform that helps consumers see real world pharmacy prices, apply discounts, and cut out of pocket drug costs, often alongside high deductible health plans and HSAs. It also sells subscription plans, telehealth services, pharma manufacturer solutions, and pet health discounts that build on this core affordability focus.

Operations: GoodRx generates all of its roughly US$785 million in revenue from healthcare software and related services in the United States.

Market Cap: US$1.20b

GoodRx Holdings gives you direct exposure to a consumer tool that many HSA users already lean on when facing rising deductibles and out of pocket drug bills. The company is focusing on higher margin areas such as pharma manufacturer solutions and subscriptions, including the new Companion Family Plan and GLP 1 focused offerings. These add employer distribution and recurring revenue potential. At the same time, thin profit margins around 2.1%, reliance on third party pharmacy and PBM partners, and competition from large digital health and retail players highlight the risks involved. For investors who want to understand how this balance of opportunity and dependency could develop, GoodRx may warrant closer research.

GoodRx appears to be a small margins today story that could be masking a broader shift toward higher quality subscription and pharma revenue. Get the full context and see what might be missing in the 2 key rewards and 2 important warning signs

CVS Health (CVS)

Overview: CVS Health is a large U.S. health solutions company that combines insurance, pharmacy benefit management, and retail pharmacy to serve employers and individuals using high deductible and other consumer directed health plans that often sit alongside HSAs. Through its Aetna health insurance, Caremark PBM, and CVS Pharmacy and MinuteClinic footprint, CVS Health aims to manage medical and drug costs for members while keeping employers and government programs engaged with integrated benefits and care delivery.

Operations: CVS Health generates virtually all of its US$412.6b in revenue in the United States, led by Health Services at about US$200.5b, Health Care Benefits at US$143.8b, and Pharmacy & Consumer Wellness at US$139.7b, partly offset by intersegment eliminations.

Market Cap: US$124.3b

CVS Health may be worth a closer look for investors seeking exposure to the shift toward high deductible plans and consumer directed benefits without relying on a pure play HSA custodian. The Health Care Benefits and Caremark PBM businesses place CVS at the center of how employers design benefits, manage GLP 1 and specialty drug costs, and respond to rising medical bills, all of which tie directly into how HSAs are used. At the same time, high debt, recent one off losses, restructuring charges for store closures, and pressure in Medicare and Individual Exchange plans contribute to execution risk. The turnaround efforts, integration of Signify Health and Oak Street Health, and focus on cost control present a mix of potential opportunity and caution that long term investors may want to investigate further.

CVS Health appears to be a cost control and integration story that many investors may be only partially recognizing. Put the moving pieces in context with the 3 key rewards and 2 important warning signs

Progyny (PGNY)

Overview: Progyny is a U.S. benefits management company that helps employers offer fertility, family building, and broader women’s health benefits through tailored plan design, concierge member support, and a curated network of specialists. These offerings can be integrated into modern benefits platforms that sit alongside HSAs and high deductible plans. Its Progyny Rx pharmacy solution, pregnancy and menopause support, and reimbursement programs for adoption, surrogacy, and travel extend that model across more of an employee’s health journey.

Operations: Progyny generates about US$1.31b in revenue from fertility, family building and women’s health benefits solutions in the United States.

Market Cap: US$2.0b

Progyny provides targeted exposure to the shift toward richer, tech enabled benefits platforms as employers look to compete for talent with fertility and women’s health coverage, rather than just higher HSA matches. The company serves a mix of industries and reports a broadening client base, along with earnings quality and profit margins around 6%. This supports interest from investors who focus on recurring, employer paid benefits spending. At the same time, the company faces clear risks, including dependence on employer benefit budgets, competition from insurers that bundle fertility into broader coverage, and regulatory scrutiny of reproductive health. For investors following the HSA and benefits administration theme, understanding how Progyny manages those trade offs may be important when assessing its long term prospects.

Progyny’s employer backed fertility benefits story is gaining attention, yet many investors may still be missing how its recurring model and women’s health focus could scale from here. See how the growth thesis stacks up in the analyst forecasts for Progyny

Seeking Fresh Alternatives Beyond HSAs

Markets move fast and the best ideas rarely stay quiet for long. Spot where the next breakout momentum could be hiding while it is still under the radar for now. Act now.

• Hunt for robust balance sheets before the crowd notices by scanning the list of solid balance sheet and fundamentals (52 results), which highlights companies with sturdy finances and fundamentals that many investors may be overlooking.
• Look for income opportunities from companies targeting cash returns by checking the 11 dividend fortresses, which focuses on higher yielding stocks that could refresh your watchlist.
• Track early moves in a fast-evolving field by reviewing the 55 AI infrastructure stocks, which focuses on businesses supporting AI demand while it may still be relatively under owned.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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