CHARLESTON, S.C., Aug. 5, 2021 /PRNewswire/ -- Benefitfocus,
Inc. (NASDAQ: BNFT), a leading technology platform provider
enabling rapid innovation for employers, health plans and
consumers, today announces the award of a contract supporting the
State of Wisconsin's efforts to
modernize its insurance administration system for the Department of
Employee Trust Funds. The contract was awarded to Benefitfocus
after a competitive RFP process to meet the state's need for "a
new, fully-integrated, best-practices-based insurance
administration system requiring minimal customizations."
Benefitfocus will support the administration of core, ancillary
and voluntary benefits. It will also manage COBRA administration,
direct billing, consolidated billing services and analytics for
more than 239,000 members of the Department of Employee Trust
Funds.
"We are thrilled to be selected by the State of Wisconsin to help them provide their
members with an improved, modernized benefits enrollment
experience," said Matt Levin,
president & CEO, Benefitfocus. "I am honored that the
State of Wisconsin chose
Benefitfocus to be their trusted technology and business partner.
"
The Wisconsin Department of Employee Trust Funds administers the
Wisconsin Retirement System (WRS), the group health insurance
program for State of Wisconsin
(State) employees and many local governments, and a variety of
other public employee benefit programs. The WRS is the eighth
largest public pension fund in the nation and the Department's
largest program, providing retirement benefits for more than
648,000 current and former state and local government employees on
behalf of approximately 1,500 employers. WRS participants
include public school teachers, current and former employees of
state agencies, and employees of most local governments.
Benefitfocus' Public Sector Support
Benefitfocus
offers state and local governments and education systems a
dedicated cross-functional team to support all phases of the
contract and implementation process. The company helps states
modernize their benefits administration initiatives to better serve
public sector employees and retirees. Its single, cloud-based
solution personalizes the enrollment experience for employees and
retirees, and streamlines benefits administration by removing
complexity for plan administrators.
Connect with Benefitfocus
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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.
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SOURCE Benefitfocus, Inc.