|WageWorks Enters Strategic Alliance with Ceridian to Further Extend Its Leadership in Consumer-Directed Benefits
WageWorks, Inc. (NYSE: WAGE), a leading provider of Consumer-Directed Benefits (CDBs), such as pretax accounts for health, commuter and other employee benefits, today announced that it has entered into a strategic alliance with Ceridian, a leader in human capital management with more than 100,000 clients in over 50 countries.
Under this alliance, WageWorks will assume responsibility for the administration of all Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Health Savings Accounts (HSAs), Commuter Benefit Accounts, and Premium Only Plans currently provided by Ceridian. In addition, as part of this alliance, Ceridian will soon offer through its sales organization WageWorks’ health, commuter and other pretax employee benefit accounts to their employer clients. By partnering with WageWorks, Ceridian ensures that its clients and their employees have access to the expertise, technology and enhanced services in Consumer-Directed Benefits WageWorks offers, while continuing their focus on providing leadership in human capital management.
“We are very excited to be working with a company of Ceridian’s outstanding reputation and market reach,” said Joe Jackson, CEO, WageWorks, Inc. “This alliance will allow us to bring WageWorks’ tax-saving Consumer-Directed Benefits to the large number of employers and employees that are already working with Ceridian and taking advantage of their industry-leading offerings in human capital management."
“This partnership allows two leaders in their space to deliver a combined best-in-class solution, and enables Ceridian to deliver even greater value to our customers in the area of Consumer-Directed Benefits,” says David Ossip, CEO, Ceridian HCM. “WageWorks’ technology platform combined with their strong focus on customer service, education and engagement is an excellent complement to our transformative human capital management products and services.”
To implement the partnership with current clients, WageWorks and Ceridian expect to transition approximately 18,000 employers from Ceridian to WageWorks’ Consumer-Directed Benefits. Transitions are expected to begin during the fourth quarter of 2013 and continue into 2014, with both companies working closely together to ensure a smooth process for all existing clients.
WageWorks will host a conference call today, August 7, 2013, at 5:00 p.m. ET to discuss the Company’s second quarter ended June 30, 2013 financial results and business outlook, during which additional questions regarding this alliance will be addressed.
The live webcast of the conference call can be accessed under “Investor Relations” section of the Company’s website at www.wageworks.com. Those wishing to participate in the live call should dial 866-318-8620 (toll-free) or 617-399-5139, and enter pass code 32307613. Following the call, an archived webcast will be available in the “Investor Relations” section of the Company’s website at www.wageworks.com. A telephone replay will be available for one week at 888-286-8010 (toll-free) or 617-801-6888 using the pass code 92130540.
WageWorks (NYSE: WAGE) is a leading provider of Consumer-Directed Benefits (CDBs) in the United States. WageWorks administers and operates a broad array of CDBs, including pretax spending accounts, such as health and dependent care Flexible Spending Accounts (FSAs), as well as Commuter Benefit Services, including transit and parking programs, Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs), and other employee benefits.
WageWorks is headquartered in San Mateo, California, with offices in major locations throughout the United States. For more information, please visit the website at www.wageworks.com.
Ceridian is a leader in human capital management with more than 100,000 clients in over 50 countries. We deliver trusted results and transformative technology. Our offering includes the award winning, cloud-based Dayforce HCM, LifeWorks, PowerPay and International Payroll. Ceridian is transforming the world of work. For more information call 1-800-729-7655.