CHARLESTON, S.C., June, 20 2017 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, today announced its Summer Software Release, which includes features inspired by Benefitfocus customer feedback. The new release continues to advance the design and implementation of personalized benefits strategies for today's diverse workforce. In addition, continued investments in platform performance and data accuracy set employers and insurance carriers up for success during the 2018 fall open enrollment
"There are three critical components to open enrollment success - an elegant enrollment experience, accurate data delivered on time and streamlined administrative processes," said Benefitfocus President Ray August. "Updates in the latest release address all three and were driven by a combination of customer input through the Benefitfocus Idea Community and our ongoing focus on superior platform performance. As employers offer robust benefits plans to attract, engage and retain employees, they're turning to Benefitfocus as the platform of choice for employee engagement and administrative efficiency."
The software release's new tools help HR leaders and carriers streamline enrollment and provide a personalized consumer experience. New capabilities include:
Open Enrollment Success
- Data accuracy & timeliness - New system checks alert administrators to duplicate data and configurations that may result in unintended outcomes. These capabilities improve system performance and increase data accuracy.
- Compliance & administration - As regulations evolve, new enhancements remove manual processes and provide additional reporting support to simplify 1094-C and 1095-C forms.
Simplify Employee Onboarding
- Rehire classification - As HR leaders increasingly recruit former employees, new smart categories simplify the benefits enrollment and communication process for rehires.
- Customizable rules - New configuration tools provide flexibility to define and customize effective date rules and wait periods by benefit type or plan.
Benefits Content & Communication
- Content management service - As benefits communication increases in importance, new professional services provide custom benefits portal design and ongoing management of the benefits communications strategy throughout the year.
- FAQ library - A brand new library of frequently asked questions and answers helps employers build or supplement their own custom FAQ.
- Featured content display - A new content tagging capability allows administrators to quickly add and update featured content in their employee communications portals throughout the open enrollment cycle.
To learn more about the Summer Release, prospective Benefitfocus clients can schedule a personalized walk through of the platform. Current Benefitfocus clients can learn more about the platform's updates and capabilities by visiting Benefitfocus' customer portal, One Place 365.
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
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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 services; changes in government regulations; 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 compete effectively; 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.
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SOURCE Benefitfocus, Inc.