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Press release:

Benefitfocus June Software Release Unveils Tools and Functionality to Automate Benefits & Delivers Insights to Improve Consumers' Lives Across Platform and Mobile App

Issued by: Benefitfocus

Date: June 11, 2019

New "smart moments" features build consumer confidence in their benefit decisions

Charleston, S.C. - June 10, 2019 - Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today announced their June 2019 Software Release with new advancements to their BenefitsPlace(tm) Platform. The release delivers tools and functionality to educate consumers, improve the mobile experience and simplify the process of consumers' benefits decisions. Since launching consumer surveys through the Autumn 2018 Release last September, more than half a million consumer responses have helped Benefitfocus shape the platform and mobile consumer experience to make benefits enrollment and management easier and more intuitive.

The June 2019 Software Release also includes enhancements to the Platform's world-class data capabilities, helping to streamline the implementation or renewal experience. By utilizing technology to further automate processes, improving data to drive better decisions and solutions and continuing to invest in configuration options Benefitfocus is strengthening the platform value to all stakeholders across the benefits ecosystem and improving productivity. Key features include streamlined billing and payment capabilities for carriers and improved analytics capabilities that provide data-driven insights for brokers and employers, helping them better understand and serve their populations.

Notable consumer experience enhancements include:

  • Smart Moments - new moments powered by Benefitfocus BenefitSAIGE(tm) have been added to the Smart Moments library to connect consumers to their benefit options in the moments that matter 52 weeks a year. Smart Message content is being automatically loaded for key BenefitsPlace products for easy employer enablement.
  • Benefits At A Glance - a redesigned Benefits Snapshot on the enrollment homepage offer consumers a complete picture of all benefits they are enrolled in. It also features tools that allow consumers to edit or shop for new benefits all 52 weeks of the year.
  • HSA Default Contribution Recommendation Option - As high-deductible health plans increase in popularity, more consumers struggle to fund out-of-pocket medical expenses. This new functionality identifies the potential gap in financial contributions and encourages consumers to fund their Health Savings Accounts with an amount equal to their in-network deductibles.
  • Mobile App Enhancements - building on the all-new mobile experience launched in March 2019 at the Benefitfocus One Place conference, new tools allow consumers to access and interact with the app with greater ease through personalized push notifications and the ability to upload their benefits ID cards.
"Based on extensive benefits ecosystem feedback, our June release reflects a focus and promise to create the best possible consumer experience, delivering insights that educate consumers about the benefits choices that have potential to improve their lives," said Benefitfocus Chief Technology Officer Jim Restivo. "In addition, we continue to blaze new trails with our innovative world-class data capabilities through digital and automated features that demonstrate our commitment to a secure and accurate data experience, enabling our employer, broker and medical carrier audiences, especially, to make more informed decisions."

To further support employers in achieving open enrollment (OE) success, Benefitfocus offers a free OE Success Kit. The kit provides tools, resources and best practice guides across all areas of OE. Since its inception, the OE Success Kit has focused primarily on open enrollment communication. Now in its fourth year, the focus has expanded to year-round success with tools and resources for all stages of OE from planning to communication, execution and more. Download the free kit here.

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 and carriers 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; management of growth; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; the immature and volatile nature of the market for our products and services; 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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This is a press release issued by the company named above. BenefitsLink is not the author. Use of any information obtained from this release is voluntary, and reliance on it should only be undertaken after an independent review of its accuracy, completeness, efficacy, and timeliness. Reference to any specific commercial product, process, or service by trade name, trademark, service mark, manufacturer, or otherwise does not constitute or imply endorsement, recommendation, or favoring by BenefitsLink.

 
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