wex benefits now

Discovery Benefits | WEX Inc. Our experts pride themselves on providing proactive insight and empathetic solutions to all of your needs. As a user of WEX, I set up my account online, set up my Health Savings Account and commuter benefits account after open enrollment, received and activated a debit card to use for my Health Savings Account and commuter benefits account, viewed account statements, and made investment decisions for my HSA. We use cookies to understand how you use our site and to improve your experience. Privacy Policy | No cost, no obligation to buy anything ever. As a result, there will be upcoming brand changes that will impact your flexible spending, health savings, and commuter benefits accounts. The tables below show the impact of certain macro factors on reported revenue: To determine the impact of foreign exchange translation (FX) on revenue, revenue from entities whose functional currency is not denominated in U.S. dollars, as well as revenue from purchase volume transacted in non-U.S. denominated currencies, were translated using the weighted average exchange rates for the same period in the prior year, exclusive of revenue derived from acquisitions for one year following the acquisition dates. View source version on businesswire.com: https://www.businesswire.com/news/home/20230425006008/en/. The top line increased 1% year over year. ERGs drive diversity by fostering new bonds and communities across the company. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. Reconciliation of GAAP Operating Cash Flow to Adjusted Free Cash Flow. WEX exited the quarter with a cash and cash equivalents balance of $921.7 million compared with $922 million witnessed at the end of the prior quarter. Visit www.zacksdata.com to get our data and content for your mobile app or website. Total revenues of $1.3 billion surpassed the consensus estimate by 1.5% but decreased 4.5% year over year. WEX SPARK 2023 is our annual learning and networking event that focuses on new technologies and emerging industry trends meant to simplify payments, fleet management, and benefits administration and help fuel business growth. The ease of submitting receipts is a positive impact (happy employees). Existing Users Username Forgot Username? Stay up-to-date on the latest trends and insight regarding your employee benefits on our blog or subscribe to our podcast. Were here to help your business succeed. Technology? Our easy-to-use APIs in our developer portal give you access to the most complete embedded payment platforms and fintech offerings. The WEX Benefits platform helps employers with tracking bonus payments and settlements, automating layoffs and elections, managing employee questions and issues in the COBRA Employer Portal. I would like notifications that there are new reports out on WEX's website for those who have used their HSA and FSA accounts. . Our payments platform technologies give you everything you need to run an advanced payments program in one place, including the expertise to make payments smarter, faster, and more profitable. Only 15% of employers changed their benefits in 2021 as a result of COVID-19. About WEX Powered by the belief that complex payment systems can be made simple, WEX is a leading financial technology service provider across a wide spectrum of sectors, including fleet, travel, and healthcare. Get Started Contact Us - Call . No setup fee Offerings Free Trial Free/Freemium Version Premium Consulting / Integration Services As previously announced, the conference call will be webcast live on the Internet, and can be accessed along with the accompanying slides at the Investor Relations section of the WEX website, www.wexinc.com. WEX Inc. - WEX Completes Acquisition of benefitexpress When the symbol you want to add appears, add it to Watchlist by selecting it and pressing Enter/Return. Check out all our insights on staffing, benefits offerings, and retention techniques on our Benefits Trends report. 45% of employees cited salary or employee benefits as their reason for leaving. Note that the login experience for COBRA and direct bill participants will not change on Feb. 26. Health plans Net income attributable to shareholders on a GAAP basis decreased by $54.8 million to a net income of $68.0 million, or $1.56 per diluted share for the first quarter of 2023, down 42% compared with net income of $122.8 million, or $2.71 per diluted share, for the first quarter of 2022. r/personalfinance on Reddit: HSA withdrawal from WEX Global commerce platform simplifying business complexity | WEX Inc. ManpowerGroup Inc. (MAN) - free report >>, Omnicom Group Inc. (OMC) - free report >>. Total net revenue for the first quarter of 2023 increased 18% to $612.0 million from $517.5 million for the first quarter of 2022. Copy and paste multiple symbols separated by spaces. All rights reserved. Well administer HSAs, FSAs, COBRA, and more on your behalf. Great professional staff for the Flex benefits, Communication between Flex and Cobra team could use a little improvement. WEX offers complete benefits administration, including benefits accounts such as HSAs, FSAs, HRAs, LSAs, COBRA, and more | Set your business free by . WEX Health (formerly Evolution1) is a great organization for organizations that offer Flexible benefits. How do I access my account? GAAP operating income margin for the first quarter of 2023 was 25.2% compared to 23.6% for the prior year comparable period. (in millions, except per share data) In contrast, the expense associated with an equity-based award is generally unrelated to the amount of cash ultimately received by the employee, and the cost to the Company is based on a stock-based compensation valuation methodology and underlying assumptions that may vary over time; Other costs are not consistently occurring and do not reflect expected future operating expense, nor do they provide insight into the fundamentals of current or past operations of our business. HSA withdrawal from WEX My company insurance plan came with this HSA. Their support team is also not helpful, as getting the information I needed to complete my taxes for my HSA proved to be very difficult. Long-term debt was $2.6 billion compared with $2.5 billion at the end of the previous quarter. We formerly used TASC and it was a nightmare. Total segment adjusted operating income incorporates these same adjustments and further excludes unallocated corporate expenses. (9) Purchase volume represents the total dollar value of all transactions where interchange is earned by WEX. The forward-looking statements speak only as of the date of the initial filing of this earnings release and undue reliance should not be placed on these statements. We also continued to opportunistically return capital to shareholders, repurchasing $93 million of shares during the quarter. Our benefits administration solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. Recent stocks from this report have soared up to +178.7% in 3 months - this month's picks could be even better. This allows us to see the company through a different lens or perspective than we normally would. TheStreet upgraded shares of WEX from a "c" rating to a "b-" rating in a . Invest Discovery Benefits is now WEX - WEX Benefits You Keep tabs on all your benefit accounts by quickly checking your balances and details using our secure mobile app. Discovery Benefits, Inc. Is Now WEX | Bridge - TriHealth Specifically, in addition to evaluating the Company's performance on a GAAP basis, management evaluates the Company's performance on a non-GAAP basis that excludes the items specified above for the reasons discussed below: For the same reasons, WEX believes that adjusted net income attributable to shareholders, adjusted operating income and total segment adjusted operating income may also be useful to investors when evaluating the Companys performance. The travel industry is evolving. Participants/employees. The bottom line increased 14.9% year over year. (4) Net payment processing rate represents the percentage of each payment processing dollar of fuel transaction that WEX records as revenue from merchants, less certain discounts given to customers and network fees. Anyway, kept getting emails periodically and decided to register and view my account finally. MANs adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. HSA Day - National HSA Awareness Day We run report off of it and it helps us track how much employees have spent out of their own individual accounts. See segment revenue for the three months ended March 31, 2023 and 2022 in Exhibit 4 and information regarding segment adjusted operating income margin and adjusted operating income margin in Exhibit 5. Drawn from diverse cultures and experiences, we always seek a better way. WEX helps leading travel intermediaries efficiently and securely pay travel suppliers anywhere in the world. For example, a cash salary generally has a fixed and unvarying cash cost. Our passion for continuous innovation and our unparalleled level of service were further fueled when Discovery Benefits . Organisation ID. WEX hiring Information Management Specialist Intern in United States Our continued business momentum gives me further confidence in our ability to execute against our growth strategy and achieve our long-term financial targets, even in dynamic macroeconomic environments.. WEX Benefits vs. Workday HCM | G2 WEX (NYSE: WEX) is the global commerce platform that simplifies the business of running a business. The bottom line increased 14.9% year over year. WEX (NYSE: WEX), the global commerce platform that simplifies the business of running a business, today reported financial results for the three months ended March 31, 2023. . WEX service and relationship managers are dedicated to helping partners and employers at all stages, including efficient onboarding, product launch, business growth, employee education and engagement, and more. Only the fastest, easiest, most secure B2B payments solution will do. Adjusted net income is expected between $3.45 and $3.55 per share. WEX Inc. Price, Consensus and EPS Surprise, WEX Inc. price-consensus-eps-surprise-chart, Markets Close Flat After Eventful Day; MGM, NXPI, CHGG Beat in Q1, Buy the Opportunity in These Stocks After Earnings, Top Stock Reports for AMD, Cigna & Moderna, Market Leader NVIDIA Breaking Out on Volume. Benefits average number of Software-as-a-Service (SaaS) accounts grew 14% to 20.3 million from 17.8 million in the first quarter of 2022. This allows us to see the company through a different lens or perspective than we normally would. They give you a single debit card for both accounts and it automatically knows (based on the vendor) if a transaction should come out of your HSA or commuter benefits account. We make it easy to pay and get paid across your entire organization. Benefits average number of Software-as-a-Service accounts were up 14% to 20.3 million year over year. Your current debit cards and previous correspondence should already have WEX name and logo. The exclusion of these items helps management compare changes in operating results between periods that might otherwise be obscured due to currency fluctuations; The change in fair value of contingent consideration, which is related to the acquisition of certain contractual rights to serve as custodian or sub-custodian to HSAs, is dependent upon changes in future interest rate assumptions and has no significant impact on the ongoing operations of the Company. WEX provides end-to-end solutions and so much more. Transit Program We use WEX Health for our FSA, HSA, and COBRA administration. WEX benefits platform VISIT PROFILE Pricing Not provided by vendor View Pricing Guide with similar products Free Trial Free Version SEE ALL PRICING Starting from $ 1.15 /Per-Month Pricing Model: Flat Rate Free Trial Free Version SEE ALL PRICING Best for 501-1000+ users (6) Late fee revenue represents fees charged for payments not made within the terms of the customer agreement based upon the outstanding customer receivable balance. Click to get this free report, ManpowerGroup Inc. (MAN) : Free Stock Analysis Report, Omnicom Group Inc. (OMC) : Free Stock Analysis Report, Equifax, Inc. (EFX) : Free Stock Analysis Report, WEX Inc. (WEX) : Free Stock Analysis Report. The table below shows the impact of certain macro factors on adjusted net income attributable to shareholders: Segment Estimated Adjusted Net Income Attributable to Shareholders Impact. WEX provides robust solutions for benefits administration, reimbursement accounts, and COBRA administration. How much do Wex International Inc employees make? | Salary.com WexBocaLink.setUrl("locations-flyout", "WEXFleetUniversal", "cc1"); Save money and manage fleet operations with our modern business mobility solutions, including a broad array of fuel cards for any size fleet. Robust benefits administration and enrollment solutions help your employees get the most value from their benefits. The Company considers these measures integral because they exclude the above specified items that the Company's management excludes in evaluating the Company's performance. I really like the reports that it generates and the detail it gives. EFXs adjusted earnings came in at $1.43, beating the consensus mark by 4.4% but declining 35.6% from the year-ago figure. WEX Inc. Reports First Quarter 2023 Financial Results Focusing on diversity also means focusing on inclusion. The average number of vehicles serviced was around 18.7 million, up 9% from the year-ago quarters figure. (in millions) Total volume across all segments was $52.3 billion, an increase of 17% from the first quarter of 2022. The average number of vehicles serviced was around 18.7 million, up 9% from the year-ago quarters figure. Management believes that investors may find these measures useful for the same purposes, but cautions that they should not be considered a substitute for, or superior to, disclosure in accordance with GAAP. WEX SPARK 2023 brings together leaders across fleet, over-the-road trucking, corporate payments, and benefits industries to deliver on simplifying the business of running a business. The top line increased 1% year over year. (2) Payment processing gallons of fuel represents the total number of gallons of fuel purchased by fleets that have a payment processing relationship with WEX. WexBocaLink.setUrl("locations-flyout", "WEXFleetUniversal", "cc1"); WEX helps you save money on fuel and manage all your fleet needs, including both ICE and EV vehicles. Easy-to-complete non-discrimination testing to keep your plans compliant. (unaudited), Securitized accounts receivable, restricted, Prepaid expenses and other current assets, Property, equipment and capitalized software, Accrued expenses and other current liabilities, Total liabilities and stockholders equity, WEX INC. If used elsewhere, you may need to upload supporting documentation (depending on your benefits plan). 3 key themes from WEX SPARK 2023 to help you simplify the business of Mobility payment processing transactions were up 4% year over year to 137.5 million. The average salary for Wex International Inc employees is around $91,884 per year, or $44 per hour. For more information, please visit www.wexinc.com. Corporate Payments purchase volume surged 58% year over year to $18.6 billion. The Company believes that excluding acquisition-related costs and gains or losses on divestitures facilitates the comparison of our financial results to the Companys historical operating results and to other companies in our industry; Stock-based compensation is different from other forms of compensation, as it is a non-cash expense. Our end-to-end solution has proven to work for partners and clients with all sorts of needs everything from full benefits admin to account management to call center services, and everything in between. PORTLAND, Maine-- (BUSINESS WIRE)-- WEX (NYSE: WEX), a leading financial technology service provider, today announced that it has completed the acquisition of benefitexpress, a leading provider of highly configurable, cloud-based benefits administration technologies and services. For employees the WEX Flex benefit phone app was one of the best I have seen for this industry. WEX | ADP Marketplace 1 MarketScreener is worth more than 1000 Influencers! EPS increased 12.2% year over year. If used elsewhere, you may need to upload supporting documentation (depending on your benefits plan). Benefits revenues of $164.9 million registered 36% year-over-year growth. WEXVets provides mentorship, development, and camaraderie for veteran employees, empowering them to capitalize on their unique experiences. WEX Case Study WEX COBRA Account Login For Benefits The Company's adjusted net income attributable to shareholders guidance, which is a non-GAAP measure, excludes unrealized gains and losses on financial instruments, net foreign currency gains and losses, changes in fair value of contingent consideration, acquisition-related intangible amortization, other acquisition and divestiture related items, stock-based compensation, other costs, debt restructuring and debt issuance cost amortization, and certain tax related items. Now, I'd like to recap our business. CONDENSED CONSOLIDATED BALANCE SHEETS Our solutions solve employers end-to-end benefits needs including HSA, FSA, and COBRA, help employees get the most value from their benefits, and power partners business growth. We also use it to track the billing of COBRA for our former employees. MANs adjusted earnings of $1.61 per share lagged the consensus mark by 0.6% but matched our estimate. Second quarter and full year 2023 guidance is based on assumed average U.S. retail fuel prices of $3.85 and $3.83 per gallon, respectively. WEX Inc. price-consensus-eps-surprise-chart | WEX Inc. Quote. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all. WEX Inc. Reports First Quarter 2023 Financial Results You can view the status of your claims and upload documentation easily with our benefits mobile app or through your online account. Adjusted net income is now expected between $13.85 and $14.25 per share compared with the prior expectation of $13.55 and $14.05 per share. The following factors, among others, could cause actual results to differ materially from those contained in forward-looking statements made in this earnings release and in oral statements made by our authorized officers: the impact of fluctuations in demand for fuel and volatility of fuel prices, including fuel spreads in the Companys international markets, and the resulting impact on the Companys revenues and net income; the effects of general economic conditions, including a decline in demand for fuel, corporate payment services, travel related services, or health care related products and services; the impact and size of credit losses, including fraud losses, and other adverse effects if the Company fails to adequately assess and monitor credit risk or fraudulent use of our payment cards or systems; failure to implement new technology and products; breaches of, or other issues with, the Companys technology systems or those of its third-party service providers and any resulting negative impact on its reputation, liabilities or relationships with customers or merchants; the actions of regulatory bodies, including banking and securities regulators, or possible changes in banking or financial regulations impacting the Companys industrial bank, the Company as the corporate parent or other subsidiaries or affiliates; the failure to maintain or renew key customer and partner agreements and relationships, or to maintain volumes under such agreements; the effect of adverse financial conditions affecting the banking system; the failure to adequately safeguard custodial HSA assets; the failure of corporate investments to result in anticipated strategic value; the extent to which unpredictable events in the locations in which the Company or the Companys customers operate or elsewhere may adversely affect the Companys employees, ability to conduct business, results of operations and financial condition; the failure to comply with the applicable requirements of Mastercard or Visa contracts and rules; the failure to comply with the Treasury Regulations applicable to non-bank custodians; changes in interest rates and the rate of inflation; the ability to attract and retain employees; the ability of the Company to protect its proprietary rights; limitations on or compression of interchange fees; the effects of the Companys business expansion and acquisition efforts; the impact of changes to the Companys credit standards; the impact of foreign currency exchange rates on the Companys operations, revenue and income and other risks associated with operations outside the United States; the impact of the Companys debt instruments on the Companys operations; the impact of leverage on the Companys operations, results or borrowing capacity generally, and as a result of acquisitions specifically; the impact of sales or dispositions of significant amounts of the Companys outstanding common stock into the public market, or the perception that such sales or dispositions could occur; the impact of regulatory capital requirements and other regulatory requirements on the operations of WEX Bank or its ability to make payments to WEX Inc.; the possible dilution to the Companys stockholders caused by the issuance of additional shares of common stock or equity-linked securities, whether as a result of the Companys Convertible Notes or otherwise; the incurrence of impairment charges if the Companys assessment of the fair value of certain of its reporting units changes; the uncertainties of litigation; as well as other risks and uncertainties identified in Item 1A of the Companys Annual Report on Form 10-K for the year ended December 31, 2022, filed with the Securities and Exchange Commission on February 28, 2023.
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