SAN MATEO, Calif.--(BUSINESS WIRE) (Monday, October 29, 2012)
WageWorks Inc.(NYSE:WAGE), a leading on-demand provider of tax-advantaged programs for consumer-directed healthcare, commuter and other employee spending account benefits, today announced that it has been selected by GE to administer health reimbursement arrangement (HRA) and flexible spending account (FSA) programs for more than 95,000 employees in the United States.
"We are extremely pleased that GE, one of the nation's largest employers and a leader in health benefits, selected us to administer their HRA and FSA accounts" said Joe Jackson, CEO, WageWorks, Inc. "As a company with a proven track record of success providing consumer-directed spending solutions, we're well positioned to support GE and their employees. We consider ourselves true partners with GE and look forward to bringing our advanced technology and service capabilities to their employees."
The new agreement expands an existing partnership as WageWorks has administered commuter benefits for GE since December, 2001. To provide the expanded services to GE, WageWorks expects to hire at least 30 additional employees for its Tempe, Arizona operations center.
"WageWorks' focus lies exclusively on being leaders and the best at providing consumer-directed benefits," added Jackson. "Companies that work with us can expect industry-leading service, easy-to-use technology and innovative mobile solutions, such as our revolutionary EZ Receipts mobile application."
WageWorks has currently partnered with close to one third of the Fortune 500 companies and close to half of the Fortune 100 companies.
WageWorks (NYSE: WAGE) is a leader in administering Consumer-Directed Benefits (CDBs), which empower employees to save money on taxes while also providing corporate tax advantages for employers. WageWorks is solely dedicated to administering CDBs, including pre-tax spending accounts, such as Health Savings Accounts (HSAs), health and dependent care Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), as well as Commuter Benefit Services, including transit and parking programs, wellness programs, COBRA, and other employee benefits. WageWorks makes it easier to understand and take advantage of Consumer-Directed Benefits for 58,000 employers and approximately 4.5 million people. WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. For more information, visit www.wageworks.com.