Health In Tech Partners with Verdegard Administrators to Elevate TPA Services Through eDIYBS

Rhea-AI Summary

Health In Tech (Nasdaq: HIT) has announced a strategic partnership with Verdegard Administrators, an Arizona-based third-party administrator (TPA) owned by MedImpact. The collaboration will integrate Health In Tech's Enhanced Do It Yourself Benefit Systems (eDIYBS) platform into Verdegard's TPA services.

The partnership aims to enhance self-funded health insurance services by providing real-time quoting capabilities, streamlined operations, and reduced turnaround times. Verdegard, backed by MedImpact (the largest independent pharmacy benefit manager in the U.S.), serves over 20 million members and processes billions in annual drug transactions, offering significant purchasing power for drug price reduction.

Positive

• Integration with MedImpact's large pharmacy network provides significant drug cost savings potential
• Platform enables real-time quoting and faster implementation of self-funded health plans
• Partnership enhances operational efficiency and service delivery for brokers and employers

Negative

• None.

News Market Reaction – HIT

-5.15%

14 alerts

-5.15% News Effect

+10.9% Peak in 25 hr 31 min

-$6M Valuation Impact

$119M Market Cap

1.4x Rel. Volume

On the day this news was published, HIT declined 5.15%, reflecting a notable negative market reaction. Argus tracked a peak move of +10.9% during that session. Our momentum scanner triggered 14 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $6M from the company's valuation, bringing the market cap to $119M at that time.

Data tracked by StockTitan Argus on the day of publication.

STUART, Fla., July 24, 2025 /PRNewswire/ -- Health In Tech (Nasdaq: HIT), an Insurtech platform company backed by third-party AI technology, is proud to announce a new collaboration with Verdegard Administrators, a licensed third-party administrator (TPA) based in Arizona. Together, the two companies aim to redefine how TPAs support brokers and employer groups by leveraging Health In Tech's Enhanced Do It Yourself Benefit Systems (eDIYBS) platform.

Third-party administrators like Verdegard play a crucial role in the self-funded health insurance market, handling vital services such as plan design, claims administration, compliance, and reporting for employer groups. Verdegard is an integrated, concierge-level TPA owned by MedImpact, the largest independent pharmacy benefit manager (PBM) in the U.S., managing prescription benefits for over 20 million members and processing tens of billions in annual drug transactions. This scale enables Verdegard to offer purchasing power that helps lower drug prices for employer groups—a key advantage for cost-conscious small businesses. By partnering with Health In Tech, Verdegard gains access to advanced digital tools and real-time quoting capabilities that streamline operations, reduce turnaround times, and empower brokers and employers with greater control and transparency.

"Health In Tech is committed to transforming the way TPAs operate," said Dustin Plantholt, Chief Growth Officer at Health In Tech. "Our eDIYBS platform equips partners like Verdegard to be able to quote and implement self-funded health plans faster and more accurately. Combined with Verdegard's pharmacy cost advantages through MedImpact, this collaboration means brokers and employers benefit from agility, cost savings, and a more seamless experience."

Chris Wrba, Vice President of Sales & Marketing at Verdegard Administrators, highlighted the benefits to their clients and broker partners:

"Partnering with Health In Tech allows us to bring next-level efficiency and customization to our services. The eDIYBS platform gives our broker partners the power to generate quotes and plan designs instantly, which enhances our ability to serve employers with tailored solutions and exceptional responsiveness. We're excited about the opportunities this creates for growth and for delivering outstanding value to our clients."

The collaboration between Health In Tech and Verdegard Administrators underscores both companies' dedication to modernizing the self-funded insurance industry and empowering stakeholders across the ecosystem with technology-driven solutions.

About Health In Tech 

Health In Tech (Nasdaq: "HIT") is an Insurtech platform company backed by third-party AI technology, which offers a marketplace that aims to improve processes in the healthcare industry through vertical integration, process simplification, and automation. By removing friction and complexities, we streamline the underwriting, sales and service process for insurance companies, licensed brokers, and TPAs. Learn more at healthintech.com.

About Verdegard Administrators

Verdegard offers a complete suite of innovative, integrated, and concierge-level services. Plan designs include PPO options, reference-based, level funded, and hybrid plans which provide unique transparency, patient advocacy, and cost containment options to maximize the benefits and savings. Learn more at https://verdegard.com/.

Investor Contact

Investor Relations:
ir@healthintech.com

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SOURCE Health In Tech

FAQ

What is the partnership between Health In Tech (HIT) and Verdegard Administrators?

Health In Tech is partnering with Verdegard to integrate its eDIYBS platform into Verdegard's TPA services, enabling real-time quoting and streamlined operations for self-funded health plans.

How many members does Verdegard's parent company MedImpact serve?

MedImpact, the largest independent pharmacy benefit manager in the U.S., manages prescription benefits for over 20 million members and processes tens of billions in annual drug transactions.

What benefits does the HIT-Verdegard partnership offer to brokers?

The partnership enables brokers to generate quotes and plan designs instantly, streamline operations, reduce turnaround times, and provide greater control and transparency in self-funded health plans.

How will the Health In Tech partnership affect Verdegard's TPA services?

The partnership will enhance Verdegard's TPA services by providing advanced digital tools, real-time quoting capabilities, faster plan implementation, and improved efficiency in serving employers with tailored solutions.

What is Health In Tech's eDIYBS platform?

eDIYBS (Enhanced Do It Yourself Benefit Systems) is Health In Tech's platform that enables TPAs to quote and implement self-funded health plans more quickly and accurately, with enhanced customization options.