WageWorks, a provider of tax-advantaged programs for consumer-directed health, commuter, and other employee spending account benefits, has acquired the business operations of TransitCenter Inc., which offers commuter benefits to more than 10,000 small and mid-size clients across the nation. These benefit programs, known primarily under the name TransitChek®, will now become part of WageWorks’ commuter services.
The new entity will provide commuter benefits to employers of all sizes, drawing on the market segment and program offering experience of the parent organizations. It will broaden product choices across the country in all major U.S. markets and enable the use of technology platforms built by each company for its customers.
“The combination of WageWorks and TransitChek enhances the options we can offer to customers,” said Joe Jackson, chief executive officer, WageWorks Inc.
Dan Neuburger, TransitCenter’s president and chief executive officer, added: “This transaction expands TransitChek’s ability to service our clients across a broader geography. It enables us to offer a larger suite of commuter benefits products, as well as health and welfare benefits, and it builds on our focus on compliance and outstanding customer service.” Neuburger will now report to Jackson.
TransitCenter will continue to operate as a non-profit corporation, focusing on promoting the conservation of natural resources, reducing traffic congestion, and fighting air pollution by supporting the use of public transportation.