Benefitfocus and LIMRA Launch Standards for Data Exchange
The LIMRA Data Exchange Standards (LDEx) are designed to standardize the data exchanged between insurance carriers and benefits administration technology companies for non-HIPAA employee benefits. With LDEx integration,
"We are proud for the opportunity to lead the industry into the digital era by supporting the LDEx standards in a fashion that accelerates modernization of carrier integrations with the highest levels of data accuracy," said
These standards mirror
LIMRA has served as a research and education source for the financial services industry for more than 100 years and now works to create shared solutions in partnership with the industry to address common industry concerns. LIMRA responded to the growing need for accurate, cost-effective data management.
LIMRA's Data Exchange Standards Committee supported the development and testing of these standards. In addition to benefits administration providers such as
According to LIMRA, the first version of LDEx, Benefits Enrollment Management 1.0, will allow benefits administration technology companies to send coverage elections, changes and terminations, as well as non-coverage demographic changes to a carrier in a consistent XML format. Supported products include all life products, accidental death and dismemberment, critical illness, cancer, accident, dental, vision, hospital indemnity and short and long-term disability products.
Enhancements are planned for these standards over the next two years to allow companies to receive eligibility/employment information needed for service administration and reporting; enable carriers to send evidence of insurability decisions to update coverage; and permit carriers to send leave administration details to time management systems.
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Serving the industry since 1916, LIMRA helps to advance the financial services industry by empowering nearly 600 financial services companies in 64 countries with knowledge, insights, connections and solutions. Visit LIMRA at www.limra.com.
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