Towers Watson Selects WageWorks to Administer Health Accounts on Towers Watson’s New Private Health Insurance Exchange [Manufacturing Close – Up]

Proquest LLC

Towers Watson, a global professional services company and WageWorks, Inc., a provider of Consumer-Directed Benefits (CDBs), announced an agreement for WageWorks to administer health savings accounts (HSAs) and health reimbursement arrangements (HRAs) on OneExchange Active, Towers Watson's new private health insurance exchange.

According to a release, under the agreement, WageWorks will be the exclusive administrator of HSAs and HRAs for OneExchange Active - Towers Watson's offering for active full-time employees.

"We are pleased to be a part of Towers Watson's private exchange. Together, we will provide a powerful combination of health care strategy and solutions expertise for active employees," says WageWorks CEO, Joe Jackson.

"WageWorks' industry-leading CDB services are a perfect fit with our OneExchange Active solution," said Pat Amendola, North America leader of Technology and Administration Solutions at Towers Watson. "This addition of WageWorks further strengthens our commitment to offer high-performance health plans, strong value and an outstanding employee experience to our private exchange clients."

"WageWorks has a long-standing relationship with Towers Watson. Our proven platform has delivered dedicated service and support for Towers Watson clients for years, and will now include private exchange participants," says Melanie Hallenbeck, WageWorks Exchange Partnership Team Leader.

WageWorks will become the administrator effective immediately. OneExchange Active will enroll participants this fall for January 1, 2014, health plan start dates.