Revenue (Tables)

12 Months Ended

Dec. 31, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The Company’s primary categories of revenue are Healthcare, Commuter, COBRA and Other revenue and are disclosed in the consolidated statements of income. The following table provides information about disaggregated revenue from contracts with customers by the nature of the products and services (in thousands):

	Year ended December 31,
(in thousands)	2018		2017
Benefit Administration Service and COBRA	$	401,340	$	407,476
Interchange	50,907		50,229
Other revenue	19,937		18,390
Total	$	472,184	$	476,095

Change In Performance Obligations

During the year ended December 31, 2018, the Company recognized the following revenues (in thousands):

Revenue recognized in the period for:	Year Ended December 31, 2018
Amounts included in contract liabilities at the beginning of the period:
Performance obligations satisfied	$	571
Changes in the period:
Changes in the estimated transaction price allocated to performance obligations satisfied in prior periods	(1,100		)
Performance obligations satisfied from new activities in the period - contract revenue	472,713
Total revenue	$	472,184

Remaining Performance Obligations

The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period, in thousands. The Company applies the practical expedient to not disclose information about contracts with original expected durations of one year or less, amounts of variable consideration attributable to the variable consideration allocation exception, or contract renewals that are unexercised as of December 31, 2018 (in thousands):

	As of December 31, 2018
2019	$	571
2020	571
2021	571
2022 and thereafter	1,143
Total	$	2,856

Impact on Financial Statements

In accordance with ASC 606, the disclosure of the impact of adoption to our consolidated statements of income and balance sheets was as follows (in thousands, except per share amounts):

	Year Ended December 31, 2018
	As reported			Adjustments			Balance without adoption of ASC 606
Operating expenses:
Sales and marketing	$	73,092		$	(543	)	$	72,549
Total operating expenses	427,800			(543		)	427,257
Income from operations	44,384			543			44,927
Income before income taxes	40,115			543			40,658
Income tax provision	(14,145		)	(190		)	(14,335		)
Net income	25,970			353			26,323
Net income per share:
Basic	$	0.65		$	0.01		$	0.66
Diluted	$	0.64		$	0.01		$	0.65

	December 31, 2018
	As reported		Adjustments			Balance without adoption of ASC 606
Assets
Other assets	$	33,324	$	(8,776	)	$	24,548
Total assets	1,785,153		(8,776		)	1,776,377
Deferred tax assets, net	1,482		2,198			3,680
Liabilities and Stockholders’ Equity						—
Retained earnings	105,642		6,578			99,064
Total stockholders’ equity	$	665,141	$	6,578		$	658,563