WageWorks was founded by Jon Kessler in 2000. The company operates a health care management system which allows employees and employers to manage health savings accounts, COBRA accounts, and commuter benefits. Kessler left the company in 2007 and is now the CEO of HealthEquity, Inc.
At the end of April 2019, HealthEquity offered to acquire WageWorks for $2 billion. The possible merger is pending.
An audit in 2017 found that earnings reports were inaccurate “In a statement, the company said its 2016 revenue of $364.7 million was overstated by a range of approximately $6.5 million to $9.5 million, but that those estimates are preliminary. It also said its 2016 net income would be restated at about $3.5 million to $5.5 million below the reported $20.2 million.”
The company CEO was replaced, while the CFO and other resigned.
WageWorks is publicly traded on the New York Stock Exchange under the symbol: WAGE
The corporate office for the company is located in San Mateo, California.