WAGE
#That's just the base.
Assumes no additional growth.
<UNK>, I wouldn't say it went quicker than we thought.
It went as we expected in the beginning of ---+ when we provided guidance on Q1, we said we examined somewhere between $1 million and $2 million from the Ceridian business in Q1 and that's what we saw.
Yeah, I would say some of that in the first quarter was driven by obviously the ---+ the increase in the cap, which helps our basic program revenue, where we're paid on a percentage of the face value of the order.
I think that will continue for the rest of the year with the limits being up.
On the new sales, new sales were strong, December to January, January to February.
They continue to be pretty strong.
But that would be more of a gradual rollout through the year.
So, you know, so it would be reflective of kind of both of those in the first quarter.
But there should be some more new sales opportunities that didn't have a full first quarter impact and some that will start in the second quarter that should give us a bit of a lift there.
But, remember, my caution there is, this is great stuff, but we're talking about small employers.
Okay.
Sure.
Well, I think we elaborated, <UNK>, a little bit on that in the first quarter as we kind of go through our open enrollment period.
You know, HSA growth for us, in the last quarter we talked about it being about 45% year-over-year.
In situations on FSAs, I break those kind of into two categories, you know, where we see employers taking advantage of the carryover provision, those employers usually see kind of a low double ---+ 10% to 15% increase in enrollments, and we've seen that to be pretty consistent over the last couple of years.
Those employers who have yet to take advantage of the carryover who are becoming smaller and smaller as a percentage of the base, those employers, are probably in the low single-digit growth rates.
And then, so that ---+ that's really as far as we break down, you know, the growth in healthcare.
HRAs, you know, still growing pretty nicely, you know, that percentage is really driven a lot by a lot of adoption that we see from employers from the standpoint of wellness initiatives and things like that.
And the other thing to consider as far as timing, especially on the HSA side, you know, FSA accounts usually start January 1 and go through the year.
HSA accounts, there you have employees who will enroll in an HSA account, once selecting the high deductible health plan, and we see that happening obviously quite a bit of it during the first part of the year, but that can go through the first quarter as employees enroll in new HSA accounts.
I think that's going quite well.
We've got a great partner we're working with.
We're in the process of rolling that out.
As I mentioned in my remarks, rolling that out throughout this year.
We don't expect it, as I said, to have a real meaningful impact in 2016, but we should be ready to go with the vast majority of our HSA business starting on 1/1/17, so I would expect 2017 and then obviously, the years going forward, where this will be a more meaningful, if not material opportunity for us.
And that's really kind of as we sit today.
If there are increases in the interest rate, then I think that becomes more of a benefit to us going forward.
Sure.
Thank you.
Sure, <UNK>.
No, I wouldn't call that any pressure.
I'd say, you know, overall, you know, just like it's been really in the nine years that I've been here, pricing has remained relatively flat.
You know, when you're working on large enterprise-related clients, do you get more aggressive on price, sure, but, we also ---+ that's offset a lot by, you know, a lot of the broker business that we get on the smaller employers which tends to be at a bit higher rate.
So overall, and this would be kind of across our products, I would say that we haven't seen any ---+ any shift that would cause any concern or make us feel like there's pressure associated with it.
No, that's the big ---+ that's the big driver of that this quarter.
Oh, sure.
Thanks, <UNK>.
Thank you, operator.
Again, I'd like to thank you all for joining us today.
I'd like to thank all of my colleagues throughout the company for really contributing to put our company in the position it is today.
As I said, kind of in the conclusion, I really believe that our industry and WageWorks in particular as a leader in the industry, we're really at a point where we're starting to see adoption of these programs becoming greater, and I think that will continue going forward.
The one given is, out-of-pocket healthcare expenses are continuing to go up, and as I mentioned earlier, from working families throughout the country, one of their own defense mechanisms against that is to take advantage of one of these healthcare accounts.
So from that perspective, we see our business continuing to grow.
I've talked about the benefits that we've seen on the commuter side, our COBRA business is growing quite well.
We have acquisition and channel partnership opportunities we're pursuing.
And package that all around the best team in the industry, who I'd like to thank for all that they do every day, I think we feel pretty good about where we're at and look forward to talking to you next quarter.
Thank you.
