HealthEquity Inc. (NASDAQ: HQY) announced that William Gassen, president and chief executive officer of Sanford Health, has been elected to its board of directors effective March 26, 2026. The appointment expands the board to 10 directors, eight of whom are independent.

Gassen will serve on the Audit and Risk Committee and Talent, Compensation and Culture Committee of the board. HealthEquity describes itself as the largest independent health savings account custodian by account volume.

Gassen has served as president and chief executive officer of Sanford Health since November 2020, leading what the company calls the nation's largest rural health system. Before becoming CEO, he held several senior leadership roles at Sanford Health, including chief administrative officer, chief human resources officer, and corporate counsel. He also serves on the board of directors of Oscar Health Inc. (NYSE: OSCR).

Prior to joining Sanford Health in 2012, Gassen practiced law in private practice. He holds a bachelor's degree in criminal justice from the University of South Dakota and a J.D. from the University of South Dakota Knudson School of Law.

HealthEquity and its subsidiaries administer HSAs and other consumer-directed benefits for more than 17 million accounts, according to the company's press release.