wex company benefits

wex company benefitsvermont town wide yard sales

At the end of the quarter, the total outstanding balance on our revolving line of credit, term loans and convertible notes was $2.7 billion. Is that -- are we still early enough in the secular shift to consumer-paid HSA that we can continue to expect big open enrollment seasons that provide momentum and visibility sort of year in and year out in your Benefits business? And so it's been negative for a few quarters now. No room for advancement and plenty of gray areas Customer Solutions Specialist (Current Employee) - Remote - July 5, 2022 Where do I begin? The press release we issued earlier this morning and a slide deck to walk through our prepared remarks have been posted to the Investor Relations section of our website at wexinc.com. Yes. WEX Benefits Login Simply select your account type below and you'll be sent to the login page for your Benefits account. If you have a spending or savings account, you can also initiate a chat session directly from your online account. . We also continue to benefit from a rebound in travel volume globally. The company operates in three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The company traces its origins to A.R. WEX Overview 753 Reviews 213 Jobs 1.3K Salaries 109 Interviews 315 Benefits 4 Photos 305 Diversity Follow + Add a Salary WEX Salaries How much do WEX employees make? The custodial revenue from the invested HSA cash deposits is the primary driver of the increase in margin. Is it finding some kind of adjacency expansion capabilities? There's been the ongoing slowdown in the freight industry with spot rates declining. Discovery Benefits is now a part of WEXinc and you can log into your account using the links below. The company is headquartered in Portland, Maine [2] [3] and provides services in the United States, Canada, South America, Europe, Asia, and Australia . The other question I had was, Melissa, you mentioned a couple of big customer signings in your remarks. No, I think it's a market that will continue to evolve. An executive may or may not realize all of the Total Co mpensation during their tenure at the Company. Yes, you can continue to contact our Participant Services team at 866-451-3399 Monday through Friday from 6 a.m. to 9 p.m. Central time, or by emailing cobraadmin@wexhealth.com. We remain focused on enhancing the scalability of our platform and are on track to capture $100 million in run rate operating efficiencies by the end of 2024 with approximately half of these savings being reinvested in the business. And we keep that in mind as we're working through all of this. We are not responsible as a company for the HSA account. Let me briefly address the increased credit losses, which were within our guidance range of 32 basis points of spend volume, including approximately 4 basis points from fraud losses. WEX | ADP Marketplace They're not talking about driver shortages in the way that they have in the past [inferring], but there's a slowdown within that customer base. One connector exchanges demographic, enrollment and contribution data. Ashley Seitz - Discovery Benefits, A WEX Company, Fargo, North Dakota You will not need to make any changes to your recurring ACH schedule. You can continue to contact our Client Services team at 877-765-8810 Mondays through Fridays from 7 a.m. to 7 p.m. Central time, by emailing employerservices@wexhealth.com or by submitting a case anytime from your LEAP account. I would also like to remind you that we will discuss forward-looking statements under the Private Securities Litigation Reform Act of 1995. WEX Engaged Employer Overview 750 Reviews 214 Jobs 1.3K Salaries 109 Interviews 315 Benefits 4 Photos 305 Diversity + Add a Review WEX Employee Reviews about "benefit" Updated Apr 24, 2023 Search Reviews Clear All Full-time, Part-time English Filter Found 157 of over 751 reviews Sort Popular Popular COVID-19 Related Highest Rating Lowest Rating I also want to mention that we are renaming our existing segments in connection with the rebranding initiatives. So I feel good about the path that we're on because not only would we have the ability to continue to use the sales channels we have now but to enhance that with further digital capability. Track fuel expenses automatically. Year As part of this initiative, we've been looking closely at a number of areas of our company using improved processes, data and technology. Participants Accounts HSA, FSA, HRA/Wellness & Commuter We continue to add to the product set that we have in the marketplace. Will customer service numbers stay the same? That was a place where we're seeing positive same-store sales during the bulk of the pandemic. That we expect. We just held that same assumption. Is there a change to where I mail my COBRA premiums and can I continue to use my current COBRA/retiree premium payment coupons? When we look at our deposit base and a lot of the banking turmoil that we've seen has been basically people worried about non-FDIC-insured deposits. Continue to log into LEAP like you do today using your existing username, password and passcode to access either your benefits administration or COBRA administration. And we think of that with multiple levers. WEX "benefit" Reviews | Glassdoor But then when you migrate across the rest of the portfolio, our fleet mobility customers in our North American fleet business was actually up 2.5%. How do my employees reach you? And also from a risk management standpoint, any change in operations, either on the benefit side or the corporate payment side, given all the cash flow activity that happens naturally there? There's many different use cases that are emerging even now in this early part of this process that we think that we can help facilitate. The revenue is highly accretive to earnings, enabling us to perform well across a range of interest rate environment and providing some stability to navigate economic cycle. The first quarter was a very good quarter for us. I think some of that is continued rebound of people going back into the office, sales fleets being out and moving. So we should see these kind of interchange levels as we flow through the year. Now I'd like to recap our business highlights in the quarter. We have a solution that is live in Europe and United States. We have, again, seen stability within the portfolio. The company has more than 3,500 team members throughout the world and supports more than 20 currencies and 10 countries, with locations in Asia, Japan, Australia, Europe, and Latin America. We're also encouraged by early cross-sell conversations as we begin the new year. Diversity Program. Breaking down the segment further, travel-related customer volume represented approximately 71% of the total spend and grew 84% compared to last year. WEX - Overview, News & Competitors | ZoomInfo.com On top of that, within the Mobility space, this conversion to EV, increasingly, we see this as an opportunity. And then we look at geographic expansion capabilities, and so there's an active mix across those categories. I assume just the natural progression is not going to stay quite that strong. If you look across the business, I would agree, the over-the-road customers, we're hearing from them certainly continued weakness within their marketplace as spot rates are continuing to be lower. Also, as we noted last quarter, our deposit balances and, as a result, our reported adjusted free cash flow were about $150 million to $175 million more than we would normally expect, which were reversed during Q1. WEX Inc. Reports First Quarter 2023 Financial Results And then my last question, just on capital allocation. 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. Will you be providing new service contracts? Remember Me Next. Looking for your Discovery Benefits Login? Shifting gears now, I will provide an update on the balance sheet and our liquidity position. Like I understand your guidance is for a slowdown in the back half, but have you seen any actual slowdown yet across your businesses? We currently have approximately 85% of our cloud migration completed. Spot rates went down. And that's really -- what we're working towards is we're architecting both the way that we're thinking about go-to-market but also the products stuff. 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. Discovery Benefits, A WEX Company Business Data. So any of these individual contracts are relatively small in terms of the contribution to 2023. 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. History Now let's move to segment results, starting with Mobility. WEX Company Profile - Office Locations, Competitors, Revenue - Craft And so those things, combined, have been a really great contribution to the overall business. Glassdoor has salaries, wages, tips, bonuses, and hourly pay based upon employee reports and estimates. Mihir, I would just add, like I said, the travel trend into April continues as expected, and we've seen the same thing with fleet gallons as well has continued into April, in line with our expectations. The second product that we have is an AP direct product, where we have just started ramping a direct sales force. So how do we think about -- first of all, just if you could reiterate what's really driving that, what the strategy is for that business going forward and the kind of growth profile we can assume into the second half of the year, especially as this Midwest manager comes out as well. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Keep more of your money in your business, where it belongs.Apply for a fleet card today! benefitexpress Benefit Express Services LLC. WEX Benefits hiring Client Support Specialist in Schaumburg, Illinois One of the areas I am excited about is the planned improvement in the customer experience by creating a more seamless digital journey, which has the added benefit of saving costs. Yes. At the same time, we've been moving aggressively to the cloud, which increases [fleet to market of] innovation and enhance scalability for our customers. Wright began allowing trucks to fuel up without having to pay an attendant by using a post-paid fuel card, leading to the creation of Wright Express Corporation in 1983. Like how are you thinking about M&A right now? 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. 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. In 2017, WEX Fleet launched a new telematics platform, ClearView Advanced.[13]. We have about [$4.5 million] worth of deposits that sit on our balance sheet. . Our message to customers centered on WEX' unique ability to address the challenges they see in their businesses. And we work across a number of different partners supporting them and growing their business and then also directly, and you can see the benefit of that coming through. With a female CEO, an executive team with 30% female leadership, and global workforce that is nearly half female, women are a key part of WEXs business at all levels. Neither of these banks were customers or partners of WEX, and we had minimal deposit exposure. Discovery Benefits is now a part of WEXinc and you can log into your account using the links below. Looking for your Discovery Benefits Login? Will employer services numbers stay the same? Our passion for continuous innovation and our unparalleled level of service were further fueled when Discovery Benefits who we partnered with for more than 15 years joined WEX in 2019. You can continue to log in to your online account or mobile app to file a claim. Starting in January, participants will receive a message after they log into their online account letting them know Discovery Benefits will be known as WEX. In total, adjusted operating income margin for the company was 37.6%, which is down from 39.2% last year, largely driven by much higher margins in both the Corporate Payments and Benefits segments offset by lower margins in the Mobility segment. Should we expect the Corporate Payments to kind of trend in the 4% range and, I guess, travel to decelerate materially just from where it's at relative to the guide? . Is that weakness the same on the smaller versus the larger? Great job at ensuring payments are made in a timely fashion with recurring payments! Got it. Welcome to WEX! WEX has offices in 14 countries and employs approximately 5,600 people around the world. Your next question comes from the line of Dave Koning with Baird. Create Comparison. But as Melissa just mentioned, we also expect the other segments to continue to grow as well. Type: Company - Public (WEX) Industry: Investment & Asset Management. Included in that, we look at what do we have for contracts that have been signed but not yet implemented and what -- so what do we need to actually push through from an implementation perspective? First, it's worth noting that failures of Silicon Valley Bank and Signature Bank had very minimal impact to our business. Thank you, operator, and good morning, everyone. Yes. Where do I log in to my online account? Where does it work? New users can create a new account to get started. We provide payment solutions to businesses of all sizes across a wide spectrum of sectors, including fleet, corporate payments, travel and health. To this end, our Mobility team is currently expanding our DriverDash mobile app, which helps fleet [find fueling] locations on the go to include EV charging stations in Europe. Your session has been timed out due to inactivity. I know you mentioned a few times building out the direct sales force, inking 40 new deals. This allows us to see the company through a different lens or perspective than we normally would. Focusing on diversity also means focusing on inclusion. We have also been very focused around EV innovation. We've looked at a range of metrics around the banks we look at -- we work with, from what's the ratio of insured to uninsured deposits, credit default swaps, things like that, just to make sure that we're prudently managing money and moving it around where appropriate to banks that we're more comfortable with. Buy vs Sell. So we -- this is something we watch closely, given the overall discussion about the macro economy. Benchmarked against 2019, we're seeing improvement versus Q4 in all regions with the largest gains coming from Europe. WEX Inc. (WEX) Company Profile & Facts - Yahoo Finance WEX - Remote Work From Home Jobs & Careers | FlexJobs Revenue growth of 18% and adjusted earnings per share growth of 15% this quarter represents the eighth consecutive quarter these metrics each grew 15% or more. Discovery Benefits | WEX Inc. Participants can continue to contact our Participant Services team at 866-451-3399 Monday through Friday from 6 a.m. to 9 p.m. Central time, or by emailing customerservice@wexhealth.com. It was maybe 70%, 80% or whatever it looked like. And so we continue to see -- and that's across multiple categories. Melissa, I like the color on the direct Corporate Payments offerings. Got it. Yes, you can continue to contact our Participant Services team at 866-451-3399 Monday through Friday from 6 a.m. to 9 p.m. Central time or by emailing customerservice@wexhealth.com. You can continue to use the debit card you have today. View all pros & cons. Click the links below to log in to a participant or employer accounts (formerly Discovery Benefits, LLC, a WEX Company). Please go ahead. Where do I log in to my online account? We'll build on this launch by focusing on learnings and rapidly innovating our offering for U.S.-based customers. Incentivized. So again, not necessarily because we're seeing that trend within our portfolio, but consistent with what we had said in the last quarter. Manager in Human Resources. And it should play into the 1% to 2% growth we have slated for new product revenue and our long-term growth framework. Thank you, Steve, and good morning, everyone. This furthers our goal of putting tools in the hands of drivers that simplify the process of determining where, when and how to charge. Employee Resource Groups are great because it gives everyone a voice regardless of origin and background. No action is needed by you and you can keep the notice for your records. Get Started File a claim, view account balance and summary information, sign up for FREE direct deposit, get email notifications, and more! In our case, greater than 95% of our deposits are FDIC-insured. The WEX Health Card is a prepaid debit card that contains the value of your annual Health Care Flexible Spending Account (FSA) or Limited Health Care Flexible Spending Account elected amount. We estimate the year-over-year impact of fuel prices increase segment revenue by approximately $1 million, including a benefit of approximately $6 million for European fuel price spreads. Will my service experience change? We have mailed a notice of assignment regarding our brand and legal entity name to the physical address we have on file for your company. Should we think about that as being the predominant sequential change in that yield? Over 90% of our clients come to us seeking a better benefits experience for them and their employees. Discovery Benefits is now WEX - WEX Benefits You We are WEX We are excited and proud to share that in 2021, Discovery Benefits, LLC, a WEX Company will be known as WEX. Powered by WEX Health. WEX Company Profile | Management and Employees List - Datanyze Yes. Username Forgot Username? But I wanted to understand how fast do these signings contribute to revenues? Yes. Yes. WEX benefits and perks, including insurance benefits, retirement benefits, and vacation policy. Inventory Information Approval System (IIAS). WEX Virtual launched in 2000 [14] in support of customers including HitchHiker,[15] HotelTonight, Expedia, and Priceline. 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. And so with the rise of interest rates, we saw the impact of that. The travel segment, WEX Virtual, helps online travel agencies facilitate cross-border payments through virtual cards, allowing online travel agencies to automate back-end accounting practices. Specifically in the Corporate Payments space, I'd say it's more acute there than some of the other areas of the business. So as Jagtar said, we had a really strong open enrollment season. Fraud losses in the segment, which we've spoken about a bit in prior quarters, were down 39% from Q4 of last year and continued to improve. You can also log in and pay your COBRA/Retiree premiums directly from your online account with a recurring ACH payment or from your COBRA mobile app. And in Mobility, we recently signed a renewal with one of the most populous states in the country, [demonstrating] that our array of products continues to be a leading value proposition. Just my quick follow-up. The products in the marketplace right now, I talked about in the prepared remarks, or the ability to move our customers letting them by as they are on the go, having this charging network, reimbursement capability and then eventually depot capability, those are really, for us, the starting points because we know, from talking to our customers, they want one integrated bill, one system of record. Based on 17 WEX Benefits reviews. I would say -- I would just add that -- a reminder that we project -- we gave guidance of 10% to 15% growth rate for the travel and Corporate Payments or the Corporate Payments segment overall. WEX is off to a great start in 2023. Okay. WEX Benefits Platform | West Fargo ND - Facebook We estimate the year-over-year impact of fuel prices increase segment revenue by approximately $1 million, including a benefit . Continue to log in to your online account like you do today with your existing username and password at https://benefitslogin.wexhealth.com. ). Payment processing & information management service company, Ocean Gateway International Marine Passenger Terminal, "Why Wright Express Changed Its Name to WEX", "Wright Express Corporation Announces Pricing of Initial Public Offering", "WEX Opens Global Headquarters In Portland", "Roux Institute partners with WEX on a new facility in Portland", "WEX Partnering with Gas Buddy on Fuel Data Pact", "BRIEF-Wex and OnDeck announce strategic partnership", "WEX launches ClearView Advanced platform for fuel savings", "Jim Pratt: How WEX Ignited B2B Travel Payments", "SnapShot marketplace, TravelClick gets chatty, and more", "Eureka Innovation Award Winner Wex Health", "#WorkTrends Recap: Building Successful Business Partnerships", "Travelport Agrees to Sell Enett to Wex at a Bargain Price", https://en.wikipedia.org/w/index.php?title=WEX_Inc.&oldid=1129342157, Companies listed on the New York Stock Exchange, Companies based in Cumberland County, Maine, Short description is different from Wikidata, Wikipedia indefinitely semi-protected pages, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 24 December 2022, at 20:47. Youll continue to leverage the same online account, mobile app, and debit card (if applicable) you use today. Just in the Benefits business, you've had a couple of really strong open enrollment seasons, and obviously, these new wins. Approximately $26 million of the revenue increase in this segment is due to the average interest rate earned on these balances increasing from 1.24% last year to 3.9% this year. Sure. Yes, thanks, Sanjay. Q1 2023 WEX Inc Earnings Call - Yahoo Finance Specifically, you can use it anywhere with an Inventory Information Approval System (IIAS) or at merchants that meet the IRS 90 percent rule (where 90% of gross sales meet eligibility requirements). 78%. As we think even within the existing customer portfolio of products that we have, we will continue to take market share and build on that position. Good results here. Welcome to your single source for all you need to know about your benefit account (s). Yes. And then on the Corporate Payments space, we are anticipating continuing at that single-digit growth rate in the course of this year, which is a combination of where we are with ramping up customers and starting this process of adding new customers with the ramp of our direct sales force. WEX Inc. provides corporate card payment solutions in North and South America, the Asia Pacific, and Europe. Pros and Cons of WEX Benefits 2023 - TrustRadius And if I could just ask one follow-up to that. So, no matter which WEX-branded fleet card you pick, you can rest assured that your drivers will always be close to somewhere to fill up on gas or diesel. [17] Some partners include Fifth Third Bancorp,[18] Paychex,[19] HSA Bank, and Discovery Benefits. And she's doing some amazing work with our technology and commercial teams and really looking at how we can, from an end-to-end perspective, look at that customer experience and even greater digitize that experience, which has a super benefit. WEX rewards excellence, hard work, and innovation by providing qualified . PDF Commonly Asked Questions Regarding The WEX Health Card - Benefit Extras Login - WEX Health Get the latest Health Trends & Insights news in your inbox. Our primary use of free cash flow this year has been to repurchase shares. (Say goodbye to paper implementations. Benefits are decent, schedule flexibility, some good managers Cons Draining, don't pay their reps enough, not much room for growth, very hard to move up or laterally. So Flume is still -- I'd say, still early days, and we've had -- we started this about 15 months ago. We will be updating the login page for LEAP and will share a link to the new URL once it is live. Any clarity on how that spread might behave here in the next couple of quarters? We are looking at where do you want to continue to build, and we've had a bias of buildings just again because of what's happening with multiples. Can you elaborate a little bit -- I guess, it's also on lines of M&A. We are aware in monitoring what's happening within the marketplace. [We lose] less customers coming through but also at a lower cost. If we could touch on the Benefits segment for a minute, the account growth there obviously has been, strong mid-teens-type growth, and now you're adding the Midwest manager as well. Is that where you see the largest future growth opportunity? And so the growth with movement to HSAs has slowed, but it is still a strong grower. So some of that impacts 2023. 1 Debit card for multiple accounts (HSA and commuter benefits accounts) HSA financial accounting features. They were not a party to our credit facility nor counterparties to our hedging relationships. AllBiz Business Profile Search Background Check. Values of the benefits may change over time. Existing User. Is it in Benefits? Verified User. So we saw this kind of runoff of customers that -- where we think it had kind of this acute issue of a big ramp within that marketplace, where a bunch of people added new vehicles, and that went down. The company continues to have a significant presence in South Portland. Wex Bank Company Overview. We simplify benefits for everyone by delivering the broadest range of healthcare solutions (including HSA, FSA, HRA, Commuter, LSA, COBRA, and more) built on modern, flexible, and reliable technology and supported by our accountable and . Let me start with an update on our electric vehicle initiatives. Wright, a coal and later heating oil business in South Portland, Maine. SPARK has historically been focused on our Benefits business, but was held as a joint conference across all of our solutions for the first time this year. We have pipelines that are continuing to fill and feel good about the close rates we have this year, which will more largely impact revenue next year. Okay. And you can see that in the growth of vehicles that we've had within our base, and so we start with that. As the banking industry cope with significant movement in deposit flows since the recent bank failures, our custodial HSA cash deposits and certificates of deposit have shown themselves to be extremely stable. WEX offers complete benefits administration, including benefits accounts such as HSAs, FSAs, HRAs, LSAs, COBRA, and more | Set your business free by . How Much Does WEX Pay in 2023? (1,334 Salaries) | Glassdoor Welcome to WEX! You will notice some changes to your online account like our updated logo and colors, but the functionality and ease of use of your account that youve come to love today is here to stay. When you switch to a WEX fleet card, you can eliminate fuel purchases from employee . Get Started Contact Us - Call . In the 1980s, A.R. Continue to log in to your online account like you do today with your existing username and password at https://cobralogin.wexhealth.com. How much do Wex Bank employees make? | Salary.com Reported anonymously by WEX employees. Our mission is to help our clients and their businesses flourish both financially and personally by becoming trusted advisors that care about them as people first, and then by providing accurate and reliable financial reporting and read more in Accountants, Tax Services, Bookkeepers Location & Hours 4321 20th Ave S Fargo, ND 58103 Get directions Your next question comes from the line of Nik Cremo with Credit Suisse. The Fleet Solutions segment . How does it work? Do I need to create a new account? We feel good about considering the amount of capital that we're deploying into that sales force results that we've seen so far, and it's an area that we expect we'll continue to ramp. Expediting changes and reducing questions and discrepancies. One, is the embedded payments product, which is what is used within our travel customer base.

Harvard Hockey Elite Prospects, How Much Is Foot Surgery With Insurance, Waterfront Farms And Land For Sale In Dunnellon, Fl, Mlb Network Layoffs Eric Byrnes, Articles W