WageWorks Partners with VISA for FSA Cards

January 24, 2012 (PLANSPONSOR.com) - Visa Inc. and WageWorks Inc. entered into a new, multi-year agreement naming Visa as WageWorks’ preferred brand for prepaid employee benefit and health spending cards.

WageWorks is a provider of tax-advantaged programs for consumer-directed health, commuter and other employee spending account benefits. The companies said the relationship provides employers and their employees with the convenience, security and reliability of a Visa prepaid card when accessing tax deferred money for qualified purchases.  

WageWorks’ participants can set aside pre-tax money each month, and use a Visa-branded flexible spending account (FSA) or transportation card for eligible expenses.   

According to the firms, Visa-branded employee benefits cards can increase efficiencies and lower the cost of administering employee benefit programs, while providing a more convenient and secure way for participants to access funds.   

For more information about Visa prepaid cards, visit http://www.visa.com/prepaid.