CHARLESTON, S.C., April 27, 2016 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, today announced that PGT Industries, a manufacturer of custom impact resistant windows and doors, has selected the BENEFITFOCUS® Marketplace to boost adoption of its consumer-driven health and voluntary benefits plan. Flexibility and ACA compliance were also determining factors in helping enable the company to accommodate its growing workforce of 2,000.
"We wanted a system that would grow with us, and we believe the Benefitfocus configurable platform will give us more flexibility to protect our team members and handle even the most complex workforce issues, including ACA compliance," said PGT Industries Vice President of Human Resources Debbie LaPinska.
Delivering higher benefits management service levels with lower costs
The PGT HR team is planning to introduce Consumer Directed Health Plans ("CDHPs") coupled with voluntary benefits from the Benefitfocus Benefitstore, another key factor in the company's move to the Benefitfocus platform. According to the Benefitfocus State of Employee Benefits, employers on the Benefitfocus Platform with 1,000 or more employees experienced nearly 50 percent adoption of CDHP plans when given the choice. Thanks to a consumer shopping experience, complete with decision support and plan comparisons, PGT employees will have more insights to select the best plan fit for their individual or family circumstances not only during open enrollment, but also as their lives may change outside of open enrollment.
With benefits representing more than 30 percent of total compensation (according to the U.S. Bureau of Labor Statistics), the HR team at PGT looked to the Benefitfocus Marketplace, with its total compensation statements, to give employees greater perspective on the value of their benefits. An easy, self-service feature, total compensation statements were another priority item for PGT benefits administrators who plan to use the feature to inform the workforce of the great benefits the company offers.
The platform's more than 1,500 insurance carrier integrations will contribute to the reduced administrative burden and increased efficiency that PGT is looking for when electronically transferring files to its insurance carriers. Seamless integration with HRIS and carrier systems eliminates hours of tedious reconciliations while enabling PGT to easily personalize its benefits mix with additional health and voluntary benefits.
"We're honored to have PGT join the Benefitfocus customer community," said Shawn Jenkins, Benefitfocus CEO. "As benefits become even more complex, we're excited about the opportunity to help this leading manufacturer simplify benefits management and drive more flexible future benefits strategies as it grows."
About PGT Industries
PGT Industries (NASDAQ: PGTI), headquartered in Venice, Florida, creates products and services which focus on protecting and enhancing the beauty and functionality of homes and businesses. The Company's trusted brands include PGT Windows & Doors and CGI Windows & Doors. PGT Industries holds a solid market leadership position within its segment and is part of the S&P SmallCap 400 Index. For additional information, visit ir.pgtindustries.com.
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 millions of consumers 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.
SOURCE Benefitfocus, Inc.