CHARLESTON, S.C., Dec. 12, 2017 /PRNewswire/ -- Benefitfocus, Inc.
(NASDAQ: BNFT), a leading provider of cloud-based benefits
management software, today announced its Winter Software Release,
which includes platform investments to simplify end-of-year
reporting and deliver data-driven insights for 2018 planning. The
release also includes new communications capabilities to increase
transparency and improve personalization to ensure open enrollment
success.
"Our Winter Software Release is the capstone on another great
year of innovation for the Benefitfocus Community. During the past
12 months, we've delivered a number of major advancements across
our entire solution portfolio including Benefitfocus COBRA
Administration and Benefitfocus Consumer Directed Healthcare
Accounts," said Ray August,
Benefitfocus President & COO. "By working closely with the
Benefitfocus Community of employers, brokers and insurance
carriers, we consistently delivered new features throughout the
year to simplify benefits management. In particular, 45 of the new
features we delivered in 2017 were sourced directly from the
Benefitfocus Idea Community, our industry-leading innovation
platform."
Features included in the Winter Software Release were designed
to improve both the employer and insurance carriers' customer
experience on the Benefitfocus Platform. Key features and
enhancements include:
For Employers:
- Boosting open enrollment success – enhanced
ability to track and report on open enrollment performance to drive
participation
- Data-driven insights for planning – increased data
collection and submission features Core & Advanced Analytics
enable more data to be captured around the plans employees
choose
- Ensuring ACA compliance – updated ACA Management &
Reporting capabilities based on new IRS requirements
- Enhanced open enrollment communications – new messaging
capabilities BENEFITFOCUS® Marketplace improve scheduling and
tracking, as well as the ability to measure effectiveness of
messaging to ensure employees are supported and engaged during open
enrollment
For Carriers:
- Enhanced billing support – improvements in
Benefitfocus eBilling™ including self-service support and the
ability to edit status and disable invoices strengthen customer
relationships
- Improved group and personalized communications –
simplified messaging tools in BENEFITFOCUS® Marketplace – including
scheduling and tracking tools for event-triggered emails and text
notifications – help administrators drive open enrollment
completion by giving employees the reminders and education they
need
- Greater insight into employee behavior for better planning
– an update to Premium Reporting allows carriers to view rate
factor survey responses, helping them better understand how
consumer behavior impacts benefit premiums for improved planning
and budgeting
Current Benefitfocus customers can learn more about the Winter
Software Release and receive training with these new tools through
the Benefitfocus University.
About Benefitfocus
Benefitfocus (NASDAQ: BNFT) provides a leading cloud-based
benefits management platform that simplifies how organizations and
individuals shop for, enroll in, manage and exchange
benefits. Every day leading employers, insurance companies
and the consumers they serve rely on our platform to manage, scale
and exchange benefits data seamlessly. In an increasingly
complex benefits landscape, we bring order to chaos so our clients
and their employees have access to better information, make better
decisions and lead better lives. Learn more at
www.benefitfocus.com, LinkedIn and Twitter.
Except for historical information, all of the statements,
expectations, and assumptions contained in this press release are
forward-looking statements. Actual results or performance might
differ materially from those explicit or implicit in the
forward-looking statements. Important factors that could cause
actual results to differ materially include: the need to innovate
and provide useful products and services; changes in government
regulations; our ability to compete effectively; the immature and
volatile nature of the market for our products and services and
other factors that could impact our anticipated growth; management
of growth; fluctuations in our financial results; general economic
risks; reliance on key personnel; our ability to maintain our
culture and recruit and retain qualified personnel; privacy,
security and other risks associated with our business; and the
other risk factors set forth from time to time in our SEC filings,
copies of which are available free of charge within the Investor
Relations section of the Benefitfocus website at
http://investor.benefitfocus.com/sec.cfm or upon request
from our investor relations department. Benefitfocus assumes no
obligation and does not intend to update these forward-looking
statements, except as required by law.
SOURCE Benefitfocus, Inc.