Benefitfocus Platform Offers Improved Insights, Payment and Communications Components

CHARLESTON, S.C., March 5, 2020 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced several platform enhancements that provide consumers with expanded options for choosing and paying for benefits and give administrators greater ease of access to meaningful insights through claims-based reporting and analytics. This round of enhancements builds on Benefitfocus' ongoing commitment to delivering quality products that delight the consumer and help everyone win by improving lives with benefits.

"These enhancements-demonstrate our continued investment in our platform to provide actionable intelligence, drive high-impact employee engagement, and deliver a world-class benefits experience that improves lives," said Benefitfocus CTO Jim Restivo. "As always, our customers play a vital role in their development. We thank them for their input and look forward to working together on the next wave of advancements across our benefits ecosystem."

Benefits Across the Ecosystem

These enhancements are the latest results of Benefitfocus' goal to provide a world-class data experience for all members of its platform. Consumers will benefit from solutions that provide insight, increase productivity and improve lives, part of Benefitfocus' commitment to make benefits enrollment and management easier and more intuitive for everyone on the platform.

Brokers and employers will receive enhanced tools to help them reduce administrative burden and communicate more effectively with their employees. Health Plans will benefit from enhanced login security capabilities to provide partners with additional ways to provide a secure benefits experience to their customers.

Platform Enhancements

As stakeholders on the platform, benefits buyers and sellers will both benefit from these new capabilities:

• Health Insights: With an all new look and feel, starting with an updated main menu, every reporting, analysis and plan modeling application has been maintained and improved with new font, colors, graphics and more—leading to an overall cleaner presentation and outputs. All powered by Benefitsaige, Benefitfocus' artificial intelligence (AI) and machine learning technology, which is applied to all solutions to add value to customers.
• Custom Paycheck Ranges within the HSA Component: A new contribution option will allow consumers to contribute to their HSA accounts with increased flexibility based on the date ranges and timeframes that work for them.
• Shop & Offers Enhancements: There are enhancements to multiple aspects of the Shop & Offers experience, including the Shop & Offers home page and the plan selection pages. All voluntary benefits can be housed in one place, thanks to the ability to incorporate benefits that require qualifying life events to elect into Shop & Offers.
• Smart Moments Console Enhancements: Employers will now have the ability to easily create and send separate email, SMS/text and push messages to employees from the Smart Moments Console, making it easier to drive engagement and communicate about their benefits year-round.

The One Place 365 ideas Community

Benefitfocus' interaction with employers, carriers and brokers provides feedback needed to produce and successfully implement enhancements, such as these. The One Place 365 Ideas Community, found on the navigation bar of the One Place 365 home page, enables community members to submit ideas to guide future planning.

Connect with Benefitfocus

To learn more about these updates and the Benefitfocus MarketPlace, click here.

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About Benefitfocus

Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers' health, wealth, property and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully designed services, enable employers, insurance brokers, carriers and suppliers to simplify the complexity of benefits administration and deliver a world-class benefits experience. 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; the immature and volatile nature of the market for our products and services; our ability to compete effectively; management of growth; our ability to maintain our culture and recruit and retain qualified personnel; risks related to changing healthcare and other applicable regulations; 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-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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SOURCE Benefitfocus, Inc.

Benefitfocus, Inc., 843-981-8898, pr@benefitfocus.com