CHARLESTON, S.C., Oct. 15, 2013 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits software solutions, today announced that Anschutz Entertainment Group (AEG) has adopted BENEFITFOCUS HR INTOUCH® to support their employee benefits program and communication strategy. Benefitfocus was selected to deliver a flexible and scalable technology solution to serve AEG's growing workforce and simplify compliance and business rule requirements for their benefits team. AEG is headquartered in Los Angeles and owns and operates facilities, sports franchises and sports & entertainment programming and events across five continents with more than 26,000 employees worldwide. Of those, 1,800 full-time employees located in the U.S. will enroll in benefits under the new provisions of the Affordable Care Act (ACA) for the first time in November.
Responsive to the requirements set forth by the ACA, Benefitfocus offers large employers a technology solution to facilitate compliance and simplify the regulatory complexities associated with benefits administration and employee communication. The rules-based engine of HR InTouch allows AEG to configure enrollment workflows and enforce business rules in a way that will educate their geographically dispersed workforce about the plan options available based on their eligibility. The benefits technology company's sophisticated data exchange capabilities synchronize enrollment elections with AEG's insurance providers as well as its payroll system, allowing the company to manage all their benefits-related information in the cloud while reducing administrative tasks and improving the accuracy of their data.
"HR InTouch should help alleviate the frustrations we've experienced with rigid benefit management systems," explained Kevin McDowell, EVP and Chief Administrative Officer at AEG. "The portal's configurable enrollment workflow and engaging multimedia features give us the opportunity to encourage participation in the benefits we offer and provide educational programs that can help us eliminate any knowledge gaps. Benefitfocus' commitment to continuous innovation was a key driver in our decision, and we look forward to providing our employees with the latest features and functionality."
Benefitfocus integrates smart decision support tools within HR InTouch, offering employees greater access to the educational resources needed to become more informed healthcare consumers. The BENEFITFOCUS® Plan Shopping App personalizes the shopping experience, allowing employees to compare plans based on coverage details, expected plan usage and out-of-pocket costs so they can easily identify the best fit for their healthcare needs. Informative videos guide employees through the entire enrollment process, defining complex healthcare and benefit concepts in terms that are easy to understand.
"AEG's diverse workforce is one of the essential contributors to its success, and we look forward to helping them make their benefits a key recruitment and retention tool," said Shawn Jenkins, President and CEO of Benefitfocus. "Today, a lot of companies are faced with the twin challenges of ensuring that employee benefits are not only comprehensive and competitive, but also the most economical for both the company and its employees. Benefitfocus solutions are designed to do just that."
AEG is scheduled to go live on the BENEFITFOCUS® Platform in time for their open enrollment in November.
About AEG AEG is one of the leading sports and entertainment presenters in the world. AEG, a wholly owned subsidiary of the Anschutz Company, owns or is affiliated with a collection of companies including over 100 of the world's preeminent facilities such as STAPLES Center (Los Angeles, CA), StubHub Center (Carson, CA), Best Buy Theater (Times Square, New York), Mercedes-Benz Arena (Shanghai, China), Allphones Arena (Sydney, Australia), O2 World Berlin, O2 World Hamburg, Ericsson Globe (Stockholm), Ulker Arena (Istanbul), Ahoy Rotterdam, Eventim Apollo theater (London), Wembley Arena (London) and The O2 arena and entertainment district (London, England). Developed by AEG, L.A. LIVE is a 4 million square foot / $2.5 billion downtown Los Angeles sports, & entertainment district featuring Nokia Theatre L.A. LIVE, Club Nokia, and a 54-story, 1001-room convention "headquarters" destination. In addition to overseeing privately held management shares of the Los Angeles Lakers, assets of AEG Sports include franchises such as the LA Kings, LA Galaxy and Houston Dynamo, Eisbaren Berlin, Hamburg Freezers and the Amgen Tour of California cycling stage race. Along with AEG Facilities, other global divisions include AEG Live, the world's second largest concert promotion and touring companies comprised of touring, festival, exhibition, broadcast, merchandise and special event divisions and AEG Global Partnerships, responsible for worldwide sales and servicing of sponsorships, naming rights and other strategic partnerships. In 2010, AEG launched its AEG 1EARTH environmental program featuring the industry's first sustainability report while in 2011, AEG introduced AXS Ticketing, a new entertainment platform serving as the company's primary consumer brand which will also feature a mobile service as well as video content service now in development as well as the AXS TV network. For additional information, visit www.aegworldwide.com.
About Benefitfocus Benefitfocus, Inc. (NASDAQ: BNFT) is a leading provider of cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. Benefitfocus has served more than 20 million consumers on its platform that consists of an integrated portfolio of products and services enabling clients to more efficiently shop, enroll, manage and exchange benefits information. With a user-friendly interface and consumer-centric design, the Benefitfocus Platform provides one place for consumers to access all their benefits. Benefitfocus solutions support the administration of all types of benefits including core medical, dental and other voluntary benefits plans as well as wellness programs. For more information, visit www.benefitfocus.com.
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 immature and volatile market for our products and services; the need to innovate and provide useful products and services; our ability to compete effectively; 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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