SOURCE: Evolution Benefits, Inc.

May 05, 2005 11:00 ET

Ceridian Selects Evolution Benefits to Administer Its Flexible Spending Account Debit Visa Card

Employers Experience FSA Participation Increases as High as 200 Percent With This Card

MINNEAPOLIS, MN -- (MARKET WIRE) -- May 5, 2005 -- Ceridian (www.myceridian.com), a leader in human resources outsourcing management solutions that maximize the value of people, announced today that it will begin offering the Evolution Benefits debit Visa® card to its Flexible Spending Account (FSA) customers.

"We have known for a number of years that employers who offer their employees the benefit of managing their FSA accounts with a debit card will see higher participation levels, and thus will experience the tremendous tax benefits of using these accounts," said Jim Corcoran, president, Ceridian Benefit Services. "We chose to work with Evolution Benefits because of their superior technology and pioneering capabilities to electronically substantiate employees' claims based on IRS guidelines. With proper use of an FSA debit card, employees do not have to submit receipts, thus allowing for paperless claims."

Ceridian will introduce its new debit card model in the coming year as part of a roll out of a new, integrated benefits administration technology platform. This platform will provide greater self-service functionality across all employee benefits and the Evolution Benefits debit Visa card will be a major component. Ceridian also plans in the future to use this debit card for other products such as commuter and dependent care services, Health Savings Accounts (HSA) and Healthcare Reimbursement Accounts (HRA).

"We are seeing the coming of age of debit cards as the payment vehicle of choice for account-based products in the new world of consumer directed benefits," said Robert E. Patricelli, chairman and chief executive officer of Evolution Benefits, Inc. "The card's ease and convenience encourage greater participation in FSAs and other programs, as well as higher contribution levels -- both of which generate more tax savings for employees and their employers. Our records show that, as a result of introducing our Benny™ benefits debit card to FSA programs throughout the country, participation rates have increased from 20 to 40 percent, with some as high as a 200 percent increase."

The Ceridian Evolution Benefits debit Visa card will be issued by BankFirst.

About Evolution Benefits

Evolution Benefits, Inc. began operation in 2002 with a commitment to supporting the movement toward greater consumer choice in and responsibility for employee benefits. Its primary product, the Benny™ benefits debit card, applies advanced payment technologies and pioneering electronic substantiation methodologies to FSAs, HRAs, commuter benefits and Health Savings Accounts, creating a bridge between traditional benefit structures and the evolving consumer directed benefits movement. Evolution Benefits now powers the programs of more than 80 managed care and administrative services organizations and covers more than 1500 employers, including 40 of the nation's top-ranked Fortune and Forbes companies. Please visit www.EvolutionBenefits.com for more information.

About Ceridian

Ceridian is changing the world of work by enabling companies to be free to succeed in their core business through its suite of innovative managed human resource solutions that include payroll and compensation, staffing, compliance, HR administration and employee effectiveness. Ceridian Corporation (NYSE: CEN) is an information services company serving businesses and employees in the United States, Canada and Europe. For more information about Ceridian's comprehensive array of human resource solutions, visit www.myceridian.com or call (800) 729-7655.

Contact Information