GE Selects WageWorks to Administer Consumer-Directed Health Benefits

SAN MATEO, Calif., Oct. 29 2012 /PRNewswire/ -- 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 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.

About WageWorks
WageWorks, Inc. is a leading on-demand provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits, or CDBs, in the United States. We administer and operate a broad array of CDBs, including spending account management programs such as health and dependent care Flexible Spending Accounts, or FSAs, Health Savings Accounts, or HSAs, Health Reimbursement Arrangements, or HRAs, and commuter benefits, such as transit and parking programs.

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.

SOURCE WageWorks Inc.



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