How Wealthfront Realized Six-Figure Health Plan Savings


When Wealthfront grew to more than 100 employees, its PEO became cost-prohibitive. Even with a low health-needs group, Wealthfront struggled to quantify the savings and advantages of offering a high-deductible health plan paired with a Health Savings Account (HSA).

Wealthfront had two goals:

  1. Not to increase overhead, and
  2. Improve their employee benefits 


Lumity's team analyzed Wealthfront's current plan design with anonymized employee census information and modeled expected health costs. By modeling current versus expected benefits expenses, forecasted cost savings could be directed into employer HSA contributions. This served to incentivize uptake of their high-deductible health plan.

During open enrollment, Lumity provided easy-to-digest plan education. Employees also gained year-round access to health insurance advocates to answer all benefits questions and help navigate any claims issues. 

Additionally, Lumity worked with the CFO to:

  1. Choose and set up payroll, and
  2. Enact ancillary and voluntary benefits.


Wealthfront achieved an annual savings of nearly $120k while improving the quality of their plans, and their CFO gained real-time insights into benefits expenses to facilitate budgeting and FP&A.

The introduction of partially-funded HSAs increased employee uptake by 50%, and Lumity saved them an additional $100k on workers' comp plans by assessing needs and evaluating the highest-value vendor. 


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The Lumity team goes above and beyond in their renewal strategy and client-first service mentality. Both our People team and tech-savvy employees value Lumity’s integrated platform and concierge service. They have been a true partner in helping us administer our benefits and support our people so that we can focus on other core strategic areas of employee experience.

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Ashley Johnson
Chief Financial Officer

Wealthfront is an all-in-one solution that helps you earn more interest on your cash, get advice on how to manage your savings, and automate your investments at a low cost.