Questions About Working with WageWorks®?
If you have questions, we have answers. It is our goal to provide you with the information you need to select recommend WageWorks to your clients. See below for a list frequently asked questions (FAQs)
and links to support and product FAQS as well.
Search WageWorks FAQ Page
As one of the nation's largest independent providers of Consumer-Directed Benefit solutions, WageWorks has 58,000 employer clients and approximately 4.5 million employee participants nationwide.
68% of Fortune 100 companies depend on WageWorks to administer their tax-advantaged benefit programs. We also closely work with small and medium-sized business (SMB) to develop customized solutions and strategies for lowering healthcare and benefit costs while improving employee happiness. More than half of our business is derived through our partnership with brokers.
An unwavering commitment to service excellence, technology, innovation, industry leadership, and consumer engagement makes WageWorks different from other third-party administrators.
We work daily to exceed our customers' expectations for outstanding service. We provide dedicated representatives to answer any questions via phone or email promptly and courteously.
WageWorks delivers Consumer-Directed Benefits (CBD) via an innovative, highly scalable Benefits-as-a-Service technology platform. Employer clients and their employee participants may access benefits programs using a standard web browser on any internet-enabled device, including computers, smart phones, and other mobile devices, such as tablet computers. Submitting claims, checking balances and claim statuses, enrolling in plans, comparing plans, calculating savings and adjusting account details are all possible with the touch of a button. Our on-demand delivery model eliminates the need for our employer clients to install and maintain hardware and software in order to support CDB programs and enables us to rapidly implement product enhancements across our entire user base.
WageWorks works with congressional staff, the IRS, and Department of Treasury to educate and influence regulatory guidance for consumer-directed accounts. We're out there in the middle of the issues that matter most to our clients. Our own Compliance department also provides industry guidance to all clients to help them navigate regulatory changes and keep their plans current.
Employers may access a variety of consumer engagement resources via online stores and account service teams to help them increase plan participation and provide employee education. Training and tools are available to help participants make the most of their plans while relieving employers of the burden of communicating the ins and outs of pre-tax benefits to their staff.
Customer service is at the core of the WageWorks company vision – it's what drives us. Our service delivery approach is supported by five pillars:
From obtaining the client's requirements definition to administering the plan, implementation of a new group typically takes six months.
During this process, we work on establishing a strong partnership with the client. We then configure our proprietary technology platform to support each group's requirements for plan design, integration, billing, funding, and reporting. Next, we develop a repeatable, error-free process for loading enrollment and contribution data. When that's set, we establish operational readiness within WageWorks and on the client front. Then, we implement a participant experience that optimizes use of our unique features as it suits the client's needs. Finally, our communications and service teams work with the client to promote the benefit program and educate participants.
As a service-oriented organization, our Client Project Team naturally comprises a host of departments dedicated to the customer experience.
Project Managers work with HR and benefit specialists on everything from plan design and strategy to communication review and testing. This team ensures that everything works flawlessly and is coordinated between the various departments. Our communications team creates customized messaging and branding for participant collateral and reviews all documentation for clarity and consistency. Legal and Compliance reviews and finalizes service agreements, Non-Disclosure Agreements and provides ongoing plan support. The Finance team creates funding agreements, banking arrangements, and develops procedures for funding and invoicing based on client preference. IT/HRIS/Payroll is charged with file development, FTP protocol, SSO, testing, and production processing. The Call Center handles everything from explaining process requirements and completing data analysis to training and coordination.
The WageWorks® Healthcare Card is a great way to drive engaged participation. WageWorks is the only organization that manages our own healthcare and commuter card operations. This gives us direct control over the user's experience and more flexibility to respond to employer needs.
What does “tax deductible” and “tax free” mean to the employer?
Benefits provided under a qualified plan are deemed a business expense and are therefore not taxed as income to the employer. Benefits received by an employee under a qualified plan are not taxed income. ERISA and IRS guidelines must be observed for the plan to maintain its qualified status.
WageWorks programs help participants save on a wide variety of health, dependent daycare and commuter expenses. Making it easy for them to select among eligible products and services is key to successful plan utilization.
If a company is set up as an LLC, S-Corp, partnership or sole proprietorship, owners cannot participate in an HRA or FSA. They can, however, participate in an HSA if they have a qualified high deductible health plan (HDHP).
We have designed a program to accommodate the owners of these types of companies in an HSA while setting up an HRA and/or FSA for the employees. We have also developed an owner's convenience account which can be set for an owner when a qualified HDHP does not exist.
Yes. HRAs and FSAs are qualified plans and require both a plan document and summary plan description. All necessary plan documents are provided by WageWorks as part of the plan implementation.