Blue Ridge ESOP Associates
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Retirement Plan Consultant
Cetera Retirement Plan Specialists
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Caregiver Support Benefits Added to Benefitfocus BenefitsPlace Product Catalog
Issued by: Benefitfocus
Date: Aug. 13, 2019
|Cariloop helps relieve the stress and anxiety felt by those in a caregiving role
Charleston, S.C. - August 13, 2019 - Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, announced today it has added Cariloop to the ever-growing range of products and services on its BenefitsPlace product catalog. Cariloop is a caregiver support platform offered as a voluntary benefit by employers to help guide their employees caring for loved ones young and old.
A 2015 report from AARP's Public Policy Institute stated that more than 43 million individuals provided unpaid care to an adult or child in the previous 12 months, with more than 34 million providing care to an adult age 50 or over. On average, caregivers devote more than 24 hours a week to providing this care, making it increasingly difficult to remain focused and productive on their work.
"More working Americans face the challenge and stress of caring for a family member, while trying to balance their personal and professional commitments," said Ray August, President & CEO of Benefitfocus. "With our BenefitsPlace partner, Cariloop, employers can now offer a valuable new benefit to their workforce that will help and support those employees caring for their loved ones."
Cariloop pairs employees and their families with a dedicated care coach who supports them through the many decisions they make over the length of their caregiving journey. As part of the member experience, each employee and their family is able to collaborate with their care coach using Cariloop's cloud-based application to promote secure communication among family members and safe storage and accessibility of important medical, financial and legal files.
Cariloop's care coaches can walk employees through a wide variety of complex challenges or questions they face when taking care of a loved one, including finding and researching doctors, lawyers, and care providers, understanding how to pay for a loved one's care, or filling out important legal documents.
"Caregiving for a loved one can be one of the most emotionally draining and financially straining experiences that any of us ever goes through," said Michael Walsh, Co-Founder and CEO of Cariloop. "Our team believes that no one should ever have to go through these life transitions alone. With Cariloop on their side, they won't have to."
The expanding array of medical complications, financial considerations, care provider options and family dynamic challenges complicate the long-term journey for caregivers. By enabling the use of a digital connection between care coaches and caregivers, Cariloop offers the chance to make that process easier and far less stressful.
Benefitfocus BenefitsPlaceŽ provides employers, brokers and medical insurance carriers the ability to offer market-leading specialty benefits products from more than 40 leading brands. This product catalog provides a simplified enrollment experience that brings all categories of voluntary benefits together in one place.
Get to know the "why" behind Cariloop. To find out more about the full range of health, wealth, property and lifestyle benefits offered by Benefitfocus, go to https://www.benefitfocus.com/solutions/benefitsplace and review the full products catalog.
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: our ability to maintain our culture and recruit and retain qualified personnel; the need to innovate and provide useful products and services; our ability to compete effectively; management of growth; 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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