Towers Watson and WageWorks Form Partnership

November 30, 2010 ( - Towers Watson has formed a strategic partnership with WageWorks, Inc., a provider of account-based health plan services, that will enable employers to leverage both companies’ strengths in the administration of health and welfare benefits.

The partnership will provide integration of services for employers that outsource their health and welfare benefits administration to Towers Watson, and account-based health plan services – such as flexible spending accounts, health savings accounts, health reimbursement accounts and commuter benefits – to WageWorks, according to a press release. The partnership will enable employers to consolidate their benefits administration services under a unified contract with a single set of service-level agreements to reduce their overall administration costs.   

It will also allow participants to access and manage their benefits through an integrated participant self-service platform and call center.   

More than one dozen existing clients are jointly served by both firms, and several new clients are expected to take advantage of the partnership in 2011, the announcement said.