SAN MATEO, Calif.--(BUSINESS WIRE)--WageWorks, Inc. (NYSE: WAGE), a leader in administering Consumer-Directed Benefits (CDBs), announced today that it has been selected by the Oregon Educators Benefit Board (OEBB) to administer their Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs) and commuter benefits.
This new partnership provides more than 60,000 eligible employees and early retirees, from more than 250 educational entities, local governments and special districts in Oregon, access to WageWorks’ expertise, premier technology and enhanced services in administering tax-advantaged benefit accounts.
“Educators and public employees are the backbone of the communities we live in,” said WageWorks CEO Joe Jackson. “WageWorks strives every day to ensure that more Americans have access to industry-leading and cost-effective Consumer-Directed Benefits, and we look forward to working directly with OEBB to help mitigate rising healthcare costs for more Oregonians.”
Consumer-Directed Benefits have become an increasingly attractive solution for private and public employers alike, as employees are faced with ever increasing medical bills and rising costs of commuting to work.
According to a recent survey by Government Procurement and NIGP (The National Institute for Governmental Purchasing), a significant number of public entities are purchasing benefits on a collective basis resulting in both reduced benefits cost and time needed to procure benefit services.
A key component of OEBB’s vision is to offer its members value-added plans that provide high-quality care and services at an affordable cost. “At WageWorks, we offer integrated systems, quality servicing, and consumer engagement tools that help organizations like OEBB and its members truly understand the value of their healthcare and commuter accounts,” said Jackson.
Most benefit eligible employees of participating entities will be able to enroll in their WageWorks CDB as early as August 2015 with benefits starting in October 2015.
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 approximately 45,000 employers and over 4 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.