Subscribe (Free) to
Daily or Weekly Newsletters
Post a Job

Featured Jobs

Consultant / Retirement Plan Administration

Spectrum Pension Consultants, Inc.
(Remote / Tacoma WA)

Spectrum Pension Consultants, Inc. logo

Plan Compliance Analyst (Administrator)

RPA
(Remote / Falls Church VA)

RPA logo

Senior Plan Document & Compliance Specialist

PCS Retirement, LLC
(Remote)

PCS Retirement, LLC logo

Associate Consultant / Retirement Plan Administration

Spectrum Pension Consultants, Inc.
(Tacoma WA)

Spectrum Pension Consultants, Inc. logo

401(k) Plan Administrator

CRI TPA Services
(Remote / AL / FL / GA / KY / LA / MS / NC / NM / TN / TX)

CRI TPA Services logo

Loan and Distribution / Contribution Upload Specialist

Aimpoint Pension
(Remote)

Aimpoint Pension logo

Senior Plan Administrator

PCS Retirement, LLC
(Remote)

PCS Retirement, LLC logo

Defined Contribution Account Manager with a Life!

Nova 401(k) Associates
(Remote / Houston TX / Dallas TX / Scottsdale AZ)

Nova 401(k) Associates logo

Pension Administrator

Actuaries Unlimited, Inc.
(Remote)

Actuaries Unlimited, Inc. logo

DC Plan Administrator

Farmer & Betts, Inc.
(Remote / CO / OR / WA)

Farmer & Betts, Inc. logo

Relationship Manager

Compass Retirement Consulting Group, Inc./Compass 360, LLC
(Remote / Stratham NH / MA)

Compass Retirement Consulting Group, Inc./Compass 360, LLC logo

Investment Advisor

SWBC Retirement Plan Services
(Austin TX)

SWBC Retirement Plan Services logo

Retirement Plan Benefits Consultant

Compass Retirement Consulting Group
(Remote / Stratham NH)

Compass Retirement Consulting Group logo

Retirement Plan Administrator

Premier Plan Consultants
(Remote / San Diego CA)

Premier Plan Consultants logo

Pension Administrator

National Administration, Inc.
(Remote / Menasha WI)

National Administration, Inc. logo

Retirement Plan Administrator

Bates & Company, Inc.
(Remote / Winter Park FL)

Bates & Company, Inc. logo

Legal Assistant/Paralegal

Witman Stadtmauer, P.A.
(Florham Park NJ)

Senior Retirement Account Representative

Ohio Pension Services
(Akron OH)

Ohio Pension Services logo

Relationship Manager - Retirement Plans

Spectrum Investment Advisors, Inc.
(Thiensville WI)

Spectrum Investment Advisors, Inc. logo

Retirement Plan Administrator

Excellent TPA
(Remote)

Client Compliance Counsel

Gallagher
(Philadelphia PA / CT / DE / MA / NJ / NY / RI)

Gallagher logo

View More Employee Benefits Jobs

Free Newsletters

“BenefitsLink continues to be the most valuable resource we have at the firm.”

-- An attorney subscriber

Mobile App image LinkedIn icon
Twitter icon
Facebook icon

Press Releases by Date   |   Press Releases by Company Name


View More Press Releases by LIMRA

Press Release

LIMRA Establishes Data Exchange Standards for Non-Medical Workplace Benefits

Issued by LIMRA

Jan. 30, 2020

WINDSOR, Conn., Jan. 28, 2020 – LIMRA today released the first set of data exchange standards focused on post-enrollment data for the employee benefits market.

The LIMRA Data Exchange Standards (LDEx) are designed to standardize the data exchanged between insurance carriers and benefits administration technology companies for non-medical employee benefits. This will help reduce errors, drive consistency and streamline the process.

“As more employers move from paper to online benefits enrollment, growth in technology companies providing online benefits administration using varying data formats has increased. Without standards, our members found it time consuming and costly to manage the many data feeds and ensure accuracy,” said InAh Chambers, director, LIMRA member relations and sales - Workplace Benefits. “We worked with 22 insurance companies and 16 benefits administration technology companies to develop LDEx for the industry.”

The need for accurate, cost-effective data management is increasing. According to LIMRA research, nearly half of U.S. employers (47%) use online benefits enrollment programs during open enrollment. From an employee perspective, LIMRA research finds 68% of employees enroll for their benefits online.

“With this shift in benefits administration, the resources needed to support the new structure changed dramatically for insurance companies. The large amount of data being transferred caused delays, errors, large increases in resources and ultimately, impacted the customer experience,” noted Mark Kozielec, director of Institutional Client Data for Prudential Financial and member of the Data Exchange Standards executive committee. “We are thrilled LIMRA worked to create these industry standards to help eliminate these challenges.”

LDEx is the latest shared solution developed by LIMRA, in partnership with the industry, to address common industry concerns. LIMRA worked with its Data Exchange Standards Committee to develop and test these standards. The committee consists of 38 companies, with the participating insurance companies representing 90% of the inforce non-medical workplace benefits market.

The first version of LDEx, Benefits Enrollment Management 1.0, will allow benefits administration technology companies to send coverage elections, changes and terminations, as well as non-coverage demographic changes to a carrier in a consistent XML format. Supported products include all life products, accidental death and dismemberment, critical illness, cancer, accident, dental, vision, hospital indemnity and short and long-term disability products.

But the work is not complete. Over the course of the next two years, the standards will be enhanced to allow companies to receive eligibility/employment information needed for service administration and reporting; enable carriers to send evidence of insurability decisions to update coverage; and permit carriers to send leave administration details to time management systems.

“One of the unique values LIMRA offers its members is the ability to bring the industry together to create cost-effective solutions that address the critical issues companies face,” said Michael Simonds, chief operating officer, Unum Group and LL Global Board member. “By creating universal data standards, LDEx will provide significant cost savings and ultimately improve our customers’ experience.”

View More Press Releases by LIMRA


Editor's note: This press release has been issued by the company named above, not BenefitsLink. Reliance on information in this press release might be prudent only 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.

© 2021 BenefitsLink.com, Inc.