CHARLESTON, S.C., March 10, 2022 /PRNewswire/ -- Today Benefitfocus, Inc. (NASDAQ: BNFT), an industry-leading cloud-based benefits administration technology company that simplifies benefits administration for employers, health plans and brokers, announced that it received a 95% satisfaction rating for open enrollment this year. These results were driven by significant focus and investment in customer success by Benefitfocus as part of its commitment to service excellence.
Benefitfocus focused on three critical areas for measuring a successful open enrollment:
- Open Enrollment Readiness: Ensuring that customers were prepared for an on-time start and could successfully execute their overall benefits strategy.
- Data Exchange: Guaranteeing timely and accurate data exchange to ensure that benefit plan participants had an ID card in hand and could go to the doctor on January 1 without hassle.
- Taking Care of People: Relieving stress for benefit teams by taking on administrative complexity and delivering personalized support for their benefit plan participants.
"At Benefitfocus, we understand the importance of delivering an exceptional open enrollment experience for our customers through extensive preparation, accurate data exchange and thorough testing," said Matt Levin, President and CEO at Benefitfocus. "The investments we made in our people and platform last year resulted in one of our most successful open enrollment seasons ever for our customers."
In addition to completing nearly 19 million enrollments during the final four months of the year, Benefitfocus:
- Accomplished a 99% on-time start for employers and 100% on-time start for health plans.
- Reached a 99% on-time enrollment eligibility and on-time payroll data delivery.
- Provided a 58-second average speed of answer for participants needing additional support.
- Saved thousands of customer hours for each of our customers by successfully resolving open enrollment emails, chats and phone calls received.
"Our partnership with Benefitfocus has transformed our open enrollment process from one that was intimidating and all-consuming to one where everyone felt taken care of," said Connie Ratcliff, Benefits Administrator for Purdue University. "The platform and Customer Success team ensured our employees could make the most of their benefits while relieving stress and extending the capacity of my HR and benefits administration team."
In 2021, Benefitfocus made meaningful investments to expand its capabilities by addressing the customer needs related to vaccine mandates and surcharges, streamlining the employee enrollment flow and user interface, using technology and automation to improve the chat function and enhancing our ACA compliance competencies through the acquisition of Tango Health. The company also recruited top senior leadership talent charged with delivering the best customer success and support in the industry, including Suzanne Leary, Chief Customer Officer, Tim Sand, Senior Vice President of Customer Operations, Michael Broome, Vice President of Customer Success, and Karen Hinsdale, Senior Director of Program Management.
In 2022, Benefitfocus customers can expect the company to continue its ongoing commitment to service excellence. To learn more about Benefitfocus' open enrollment success, methods and strategies, please visit: www.benefitfocus.com.
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About Benefitfocus
Benefitfocus (NASDAQ: BNFT) is a cloud-based benefits administration technology company committed to helping our customers, and the people they serve, get the most out of their health care and benefit programs. Through exceptional service and innovative SaaS solutions, we aim to be the safest set of hands for our customers helping to simplify the complexity of benefits administration while delivering an experience that engages people and unlocks the potential for better health and improved outcomes. Our mission is simple: to improve lives with benefits. Learn more at www.benefitfocus.com, LinkedIn and Twitter.
DISCLAIMER REGARDING FORWARD LOOKING STATEMENTS
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results 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 high quality services; our ability to maintain our culture and recruit, integrate and retain qualified personnel, including on our board of directors; market developments and opportunities; our ability to compete effectively and implement our growth strategy; our need to achieve consistent GAAP profitability; fluctuations in our financial results; risks related to changing healthcare and other applicable regulations; the immature and volatile nature of the market for our products and services; privacy; security and other risks associated with our business; management of growth; volatility and uncertainty in the global economy and financial markets in light of the evolving COVID-19 pandemic and tensions in Ukraine; 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-filings 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.
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