Market Overview

GE Selects WageWorks to Administer Consumer-Directed Health Benefits

WageWorks (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 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 currently partners with close to half of the Fortune 500 companies and a third of the Fortune 100 companies.

Posted-In: News Contracts

 

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