(Thursday, May 08, 2014)
San Mateo, CA (May 8, 2014) - WageWorks, Inc. (NYSE: WAGE), a leader in administering Consumer-Directed Benefits, today announced an agreement to be a national administration partner for Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), and Health Savings Accounts (HSAs), for the Bright Choices Exchange® and other private exchanges powered by Liazon Corporation.
Liazon helps employers save money on their healthcare costs by setting predictable budgets while allowing employees to personalize their benefits package with a selection of health, dental, vision, life, disability, and other benefits. As a national partner, WageWorks’ Consumer-Directed Benefits will be offered to employees via Liazon’s private exchanges throughout the United States.
“This partnership reiterates WageWorks’ commitment to providing Consumer-Directed Benefits through private exchanges, which are becoming increasingly relevant for employers looking to mitigate the rising cost of healthcare,” said WageWorks CEO, Joe Jackson. “Our pre-tax benefits programs save employees money on their out-of-pocket healthcare expenses, while providing corporate tax deductions to employers dependent on recruiting and retaining happy, healthy, and productive employees.”
“Working with an industry leader like WageWorks strengthens our ability to deliver on our exchange model and provide greater choice and best-in-class benefits options,” said Ashok Subramanian, Liazon CEO and Co-Founder. “Liazon and WageWorks have a similar mission to help employers and employees save money. Together we will put healthcare purchasing decisions and power into the hands of those most affected by them, giving better choices and cost savings.”
WageWorks pre-tax savings and spending accounts will be available for members of Liazon’s Bright Choices Exchange beginning on July 1, 2014.
Founded in 2007, Liazon Corporation operates the industry-leading private benefits exchange for businesses. Its flagship product, the Bright Choices® Exchange, is an online benefits store that is changing the way employers and employees buy benefits. Bright Choices helps employers manage their healthcare costs by setting predictable budgets through a defined contribution funding strategy while guiding employees to purchase better coverage of health, dental, vision, life, disability and other benefits. Advanced cloud computing infrastructure and robust security protection ensures continual access and safeguards confidentiality of data transmission. Liazon works with top national and regional insurance providers and supports thousands of businesses nationwide through a distribution network of leading broker partners. Liazon was acquired by Towers Watson in November, 2013. To learn more about Liazon and the Bright Choices Exchange, go to www.liazon.com.
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.