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

Featured Jobs

Regional Vice President of Sales

The Retirement Plan Company
(Remote / AL / FL / GA / MS)

The Retirement Plan Company logo

Retirement Plan Administrator

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

Bates & Company, Inc. logo

Business Development Director

AimPoint Pension
(Remote / Pompano Beach FL / AL / GA)

AimPoint Pension logo

Loan & Distribution Specialist

AimPoint Pension
(Remote)

AimPoint Pension logo

Defined Benefit Combo Cash Balance Compliance Consultant

Loren D. Stark Company (LDSCO)
(Remote)

Loren D.  Stark Company (LDSCO) logo

Director of 3(16) Operations

Compass
(Remote / NH / Hybrid)

Compass 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 icon
LinkedIn icon     Twitter icon     Facebook icon

Press Releases by Date   |   Press Releases by Company Name


View More Press Releases by LIMRA

Press Release

LIMRA Further Enhances Its Data Exchange Standards to Include Leave Management and Employee Assistance Programs

Issued by LIMRA

Aug. 31, 2021

WINDSOR, Conn. – LIMRA today expanded its data exchange standards to allow benefits administration technology companies and insurance carriers to manage eligibility for paid family medical leave and employee assistance programs.

Initially released in January 2020, LIMRA Data Exchange (LDEx) Standards are designed to allow insurance carriers and benefits administration technology companies to share information for employee benefits in a consistent way. By using common terminology, the standards reduce errors, drive consistency and streamline the benefits enrollment process.

“With the stresses of a global pandemic and working in a remote environment, paid family medical leave and employee assistance programs are becoming critically important to both employees and employers. The LDEx Standards can help carriers better manage these employee programs,” said Sean O’Donnell, senior vice president, LIMRA Member Relations and Consulting. “Our standards will simplify the process by including all employees’ information within one file — regardless of benefit eligibly.”

LIMRA works with its Data Exchange Standards Committee to test and build the standards. The committee consists of 51 companies, with the participating insurance companies representing 90% of the in-force non-medical workplace benefits market. To date, more than 100 companies have downloaded the free standards.

LIMRA will continue to expand the LDEx Standards to improve the accuracy and efficiency in the data exchanged between insurance carriers and benefits administration technology companies. Earlier this summer, the standards were enhanced to include API functionality allowing parties to share data in real time (or near time).

The LDEx Benefits Enrollment Management Standards allows benefits administration technology companies to send coverage elections, changes and terminations, as well as non-coverage demographic changes to a carrier in a consistent 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.

“Early next year, the LDEx Standards will include the ability to enroll in flexible spending accounts, health reimbursement accounts and, importantly, group medical products,” O’Donnell says.

Visit www.limra.com/ldex to learn more about LDEx Standards and its future evolution.

About LIMRA®    
Serving the industry since 1916, LIMRA helps to advance the financial services industry by empowering nearly 650 financial services companies in 51 countries with knowledge, insights, connections, and solutions. Visit LIMRA at www.limra.com.

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.