According to the inquiry, hackers had broken into the partner’s account, taking advantage of this to obtain unapproved access to HealthEquity’s systems and steal private health information.
The healthcare fintech startup HealthEquity has revealed that it suffered a data breach as a result of a partner’s account being compromised. This allowed hackers to get access to the company’s systems and take advantage of protected health data. The organization launched an inquiry after noticing “anomalous behavior” on a partner’s personal device, which led to the discovery of the breach.
According to the inquiry, hackers had broken into the partner’s account, taking advantage of this to obtain unapproved access to HealthEquity’s systems and steal private health information. According to an SEC filing, “the investigation concluded that the partner’s user account had been compromised by an unauthorized third party, who used that account to access information. The accessed information included some personally identifiable information, which in some cases is considered protected health information, pertaining to certain of our members. The investigation further concluded that some information was subsequently transferred off the partner’s systems.”
As a leading supplier of consumer-directed benefits solutions, such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), and 401(k) retirement plans, HealthEquity also offers health savings account (HSA) services. The organization collaborates with many companies and health plans to oversee millions of benefit accounts.
HealthEquity has started informing those affected, despite the fact that the precise impact and total number of affected individuals have not been made public. To help those who may be at risk, the firm is providing free credit monitoring and identity restoration services.
No virus was discovered on HealthEquity’s systems, and there haven’t been any outages in terms of technology. “All business operations and services remain fully available,” the company stated. They are currently evaluating the incident’s impact and the cost of its response efforts, but noted that they “do not believe the incident will have a material effect on its business or financial results.”
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