CHARLESTON, S.C., May 7, 2021 /PRNewswire/
-- Benefitfocus, Inc. (NASDAQ: BNFT), a leading
technology platform provider enabling rapid innovation for
employers, health plans and consumers, today announces significant
software updates to its Benefitplace™ platform specific to
health plan users, with further upgrades set for release in
mid-June. The updates enhance the Shopping & Quoting functions
on the platform, to further simplify selling and distribution
through an automated, insight-driven experience for brokers and
groups.
"These enhancements represent our ongoing commitment to provide
end-to-end solutions that increase efficiency, improve satisfaction
and accelerate sales growth for our health plan customers, as part
of our mission of improving lives through benefits," said Ravi
Metta, Executive Vice President, Product &
Engineering, Benefitfocus. "They are driven by direct input
from our users, which is crucial, because we know the real value of
our solutions can only be determined by the satisfaction level of
the people who use them."
The software updates will impact the Shopping & Quoting
experience in the following ways:
- General Agency Role: By expanding the hierarchy of the
general agency role, users will be able to manage a book of
business by enabling multiple sub-agencies to be assigned to the
general agency.
- Employee Participation for Preliminary Rating: Agents or
brokers will be able to generate a more accurate proposal by
entering the estimated employee participation level for each
product when calculating premiums.
- Carrier Logos in Plan Comparison: Carrier logos are
displayed in the plan comparison experience, providing a clear
visual of which insurance carrier is being offered.
- Proposal PDF Output: The standard proposal documents
incorporate the information and details needed for agents and
brokers to effectively communicate products, plans and rates to a
group customer.
- Census File Import: Updating the census file loading
process with a more intuitive experience that will provide
communication on errors and how to resolve them.
- Plan Display: Health Plans now have the ability manage
the display order of plans presented to agents and brokers,
allowing them to strategically position their products and plans to
group customers.
In June, further enhancements will debut:
- Offer Supplemental Insurance Products to Group Employees
with Individual Quoting: Employers will be able to offer
employees individual supplemental insurance products through the
Quoting experience with individual / family rates.
- Census: Additional fields will be added to the census
offering health plans the opportunity to request additional data.
New fields include dependent Social Security Numbers, dependent
email addresses, employee and dependent addresses and phone
numbers.
- Proposal: The provider network for each product/plan
will be added to the proposal outputs to provide employers with the
associated provider network, enabling them to easily identify the
associated network and review the in-network providers.
- End of Month Quoting Date: Health plans will be able to
use rules to enforce the last day of each month for proposals with
an effective date in the same month. The new rules allow for dates
to vary from month to month and the ability to extend the date
without deploying code.
Connect with Benefitfocus
To learn more about
Benefitfocus' solutions for health plans, click here.
Like Benefitfocus on
Facebook: https://www.facebook.com/Benefitfocus
Follow @benefitfocus on Twitter
Follow Benefitfocus on LinkedIn
Follow Benefitfocus on Instagram
About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies the entire benefits
industry through innovative technology solutions that bring
efficiency, cost savings and simplicity to employee benefits
administration. Our powerful cloud-based software, data-driven
insights and thoughtfully designed services help employers,
insurance brokers, health plans and suppliers address the
complexity of benefits enrollment and engagement, while bringing
easier access to health, wealth and lifestyle products
through a world-class benefits experience. Our mission is
simple: to improve lives with benefits. Learn more
at www.benefitfocus.com, LinkedIn, Facebook, Instagram
and Twitter.
DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS
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: volatility and uncertainty in the global
economy and financial markets in light of the evolving COVID-19
pandemic and uncertainties arising from the recent U.S. elections;
our continuing losses and need to achieve GAAP profitability;
fluctuations in our financial results; our ability to maintain our
culture, retain and motivate qualified personnel; the immature and
volatile market for our products and services; risks related to
changing healthcare and other applicable regulations; risks
associated with acquisitions; cyber-security risks; the need to
innovate and provide useful products and services; our ability to
compete effectively; 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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/benefitfocus-delivers-enhancements-to-shopping-and-quoting-functions-for-health-plans-301286903.html
SOURCE Benefitfocus, Inc.