CHARLESTON, S.C., May 11, 2017 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, was named the winner of a Gold Stevie® Award in the 15th Annual American Business Awards, which saw more than 3,600 nominations from organizations of all sizes and in virtually every industry. Its BENEFITFOCUS® Marketplace, consisting of an integrated portfolio of products and services that has enabled countless employees and employers to efficiently shop for, enroll in, manage and exchange benefits information, was recognized as the best new human capital management solution.
"Today's progressive employers use benefits as part of their employment brand strategy to attract and retain top talent and to seek innovative ways to engage current employees in their benefits, not only during open enrollment, but year round," said Benefitfocus Co-founder and CEO Shawn Jenkins. "As employees take on more responsibility for choosing and paying for their health care plans, they're looking to their employer for resources to guide them in the process. We're thrilled to be recognized by the American Business Awards for meeting this critical need."
As the leading software as a service platform for enterprise benefits management, the Benefitfocus Marketplace helps employers keep pace in today's complex regulatory environment. Developed on a single code base, employers and their employee's benefit from quarterly software releases. Unique features for the employee include:
Full mobile enrollment – through the Benefitfocus App, employees have full mobile access to complete open enrollment and monitor benefits throughout the year.
Employee focused user experience – unlike traditional workflow driven benefits modules, the user friendly experience provides employees with relevant, point-in-time information to help them make the best decision based on their health and financial needs.
Recommendation engine, comparison and decision support tools – provide real-time cost estimates to help employees make the right decision, by calculating total out of pocket cost for each plan based on actual historical claims data.
For employers/benefits managers, the platform offers:
Compliance automation – automation of complex ACA compliance reports, benefits administration and management tasks.
Data and analytics – insight into key drivers of employee benefits and health care costs to design smarter health care plans with Core Analytics, powered by the Hadoop data cloud.
Multi-level search and filtering – shares administrative insights to show employers how much employees' chronic conditions will cost the company and informs decision making on alternatives for managing chronic conditions.
Event driven messaging – integrated messaging capabilities enable benefits leaders to proactively communicate with key employee segments through highly personalized communications via SMS or email.
About Benefitfocus 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, 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 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.