And it’s just that the transfers from cash to investments were way up. And I think that just reflects — it ultimately reflects a better market backdrop. I mean if I look at the same period a year ago, the S&P was off 13%. And during this period, it was plus about the same number a little bit more. And so the better market backdrop and all that kind of stuff. But the underlying contribution behavior, which is, I think, really the thing you would care about was kind of about the same. Spend was seasonally pretty much what we expected. So I don’t think it’s any fundamental change in spend behavior.
Sandy Draper: Okay, great. And then if Steve hasn’t gotten board and dropped off, maybe a quick one for him. You commented on the environment around sales. But Steve, you are man on the ground in D.C. anything coming out that you’re going to come out of D.C., whether it’s regarding Medicare potential bigger step-ups and potential ability for people to invest or save in HSAs, anything new out of DC? Or is it really nothing going on there right now?
Steve Neeleman: Thanks, Sandy. And I think on this very day, there’s nothing going on in D.C. But they are coming back, we continue to have some fantastic discussions. And I think what kind of is different is that now these are more bipartisan. And we’re just kind of focusing on what do Americans need and whether it’s loosening up a little bit on some of the qualifying attributes around the higher plan you’ve been around long enough, and thank you for your support over the years to remember that there was a lot of lack of clarity around things like preventative care, right? And that was actually clarified under the Trump administration that allowed people to start paying for more medications for installers and things like that and still have a high up plan.
That helps. And so that was not only to help that they introduced it, but then the bit administration has been very supportive of those and then change it also. So now when you look at — especially the large employers and then plans are offered by health funds, and you look at their benefit design, they are covering things like high blood pressure meds and diabetic meds and stuff like that as allowed by regulation. So I think that has actually cloud a little bit of the ground that we’re trying to do, which is to say, all right, we all agree that every American needs what we would refer to as soon one that can work with any plan, obviously, with the Hyve plan, we know that it’s the HSA, but is there — are there other mechanisms to try and do that.
And so I just — I’m encouraged by the bipartisan nature of the discussions and despite everything that everyone sees when they turn on, they’re given news station and how they think it’s so torn apart. I haven’t seen that when I talked to Democrats and Republicans in Congress. And so we are hopeful that we’ll continue to see some — what we refer to as HSA or other type of account expansion, allowing just more Americans to have the benefits of one of these portable personally owned investable accounts and kind of plan the they have. So that’s what we’ve been focused on. It’s just saying how can we expand that. But yes, I mean, let’s — thanks for the question. I believe we’re continuing to make progress, and we’re hopeful that certainly before the next presidential election, there will be some bills and truths that can continue to expand the benefit.
So we will make sure that as legislators made these decisions, and they started — they start to disseminate that information out, then we will pass along, but it’s just a constant educational game. So thanks, and make sure your musical talent over the years, too. I always appreciate your musical down.
Operator: Thank you. Ladies and gentlemen, this concludes your question-and-answer session. I’d like to turn the conference back over to Jon Kessler for closing remarks.
Jon Kessler: So I appreciate everyone in the kind comments for Tyson for all he takes are teasing really well, always has and is going to be genuinely missed within the organization. But like I think this is not going to be the last time most of you on this call will see Mr. Murdoch or her Mr. Murdoch and certainly will not be the last time I hear or see him. And we’ll see how this leukemia guy does. It’s — but one way to find out is to book your flights now for February 22 2024. This is big time. This is all like — I mean, we’re talking about Broadway quality type stuff. Actually, I have no…
Steve Neeleman: But I do know this. Jon, can I…
Jon Kessler: Yes.
Steve Neeleman: I want to interject one thing on that. So look, we think we’ll have a good winter. And we would love to not only guide you through our business, but maybe do some mountain guiding. And maybe we can bring Tyson back to help us be one of the guys. I felt the thank Tyson as well. Tyson, thank you. You’ve been a wonderful teammate, and thank you for everything you’ve done for HealthEquity.
Jon Kessler: Thanks, everybody. I really appreciate it. All right. That’s it. We’ll see you all in December, and some of you before then, and then, of course, in February.
Tyson Murdock: Thank you.
Steve Neeleman: Thank you.
Operator: Thank you, everybody. This concludes today’s conference call. Thank you all for attending today’s presentation. You may now disconnect your lines, and have a wonderful day.
