CHARLESTON, S.C., May 9, 2017 /PRNewswire/ -- Benefitfocus,
Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits
management software, today announced it has expanded its client
base in the manufacturing sector, adding several new companies to
its growing list of manufacturers including Hillyard, Inc. and
Yazaki North America, Inc.
"As HR leaders in the manufacturing space continue to invest in
the well-being of their workforces, benefits remain an important
strategic asset to not only promote well-being but also to attract
and retain talent," said Benefitfocus Co-founder and CEO
Shawn Jenkins. "Through the
Benefitfocus Platform, our manufacturing clients are uniquely
positioned to engage an increasingly diverse workforce, navigate
regulatory complexity and rein in healthcare expenses."
Nearly three out of four manufacturers now offer high-deductible
health plans (HDHPs)—up from 50 percent in 2016—according to
Benefitfocus behavioral research published in the recently released
State of Employee Benefits Industry Edition. To offer additional
financial protection from the higher deductibles, manufacturers
increased their contributions to family-coverage health savings
accounts (HSAs) by 22 percent. More than half offered at least one
voluntary income ("gap") protection benefit across accident,
critical illness or hospital indemnity insurance, and over 25
percent of manufacturers offered all three of these products.
Auto parts manufacturer Yazaki North America, Inc. supplemented
its health care plan with voluntary benefits and applied
Benefitfocus technology to enhance collaboration and communication
with its 1,850 employees. "With Benefitfocus we received more than
an automated enrollment technology, we also have an extended HR
team of benefits specialists through the Benefitfocus Benefits
Service Center that adds capacity and centralized support for our
workforce," said Senior Benefit Manager Dawn Jones.
Hillyard, Inc. a leading manufacturer and distributor of
cleaning and hygiene solutions moved from paper to electronic
thanks to the BENEFITFOCUS® Marketplace, which not only streamlined
its open enrollment and benefits management processes, but also
automated ACA compliance, giving benefit administrators a boost in
confidence. "The platform enhanced our member experience and
simplified ACA reporting. The system makes it easier to comply,"
said Gregg Roberts, Vice President
of Human Resources. "It just made sense to use the Benefitfocus
Platform to simplify the entire benefits management process."
Learn more about enrollment behavior by industry in the
Benefitfocus State of Employee Benefits Industry Edition.
About Benefitfocus
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 the consumers they serve 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.
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visit:http://www.prnewswire.com/news-releases/benefitfocus-helps-manufacturers-build-a-productive-healthy-and-informed-workforce-300454031.html
SOURCE Benefitfocus, Inc.