CHARLESTON, S.C., Aug. 24, 2021 /PRNewswire/ -- Benefitfocus,
Inc. (NASDAQ: BNFT), an industry-leading benefits technology
platform that simplifies benefits administration for employers,
health plans and brokers, has issued an ebook detailing the key
elements of a benefits administration strategy as the repercussions
of COVID-19 pandemic continue.
The ebook, "COVID-19: Next Steps for HR and Benefits Leaders,"
covers four primary steps employers can take to diminish the
long-term impact of COVID-19 and leverage effective updates
instituted in response to the pandemic. It is based on insight
gathered from Benefitfocus' interaction with its employer and
health plan clients, much of which the company detailed in the
State of Employee Benefits report released earlier this year.
"The effects of the pandemic are far from over and it seems
certain that many aspects of health care and benefits will never be
the same," said Matt Levin,
president and CEO of Benefitfocus. "A key priority for employers
today is to help their employees achieve the desired level of
wellbeing. We are excited to provide valuable insight into the
long-term strategies for employers and help them apply lessons
learned to get the most value from their benefits."
Since HR and benefit leaders can expect to be dealing with the
impact of COVID-19 for some time, they must replace the short-term
emergency decision making that was essential during 2020 with
longer-term strategic planning. The four steps outlined in the
paper to do this are:
- Prioritize flexible and diverse benefits
- Promote mental and financial health
- Double down on benefits education, and
- Identify and mitigate cost drivers.
Within these steps, Benefitfocus notes two core themes that will
support the forward movement needed to minimize the long-term
effects of COVID-19 and capitalize on positive changes instituted
in response to the pandemic:
- Data-driven insights: Employers should shift their
mindset from conducting a once-a-year data analysis of what
employees are enrolling in, to gaining real-time data insight into
how employees are using their benefits along with people-oriented
information from multiple channels for effective plan design
decisions.
- The rise in (and need for) health care
consumerism: Employers have a greater opportunity to
improve health outcomes and drive down costs through year-round
engagement as employees are increasingly focused on their health
and financial wellbeing as a result of the pandemic.
Benefitfocus Resource Center
This ebook is the latest
offering from Benefitfocus' Resource Center, which offers useful
information and guidance to everyone across the benefits ecosystem
for driving industry change.
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 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: our ability to maintain our culture and
recruit, integrate and retain qualified personnel, including on our
board of directors; our ability to compete effectively; the
need to innovate and provide useful products and services; risks
related to changing healthcare and other applicable regulations;
the immature and volatile nature of the market for our products and
services; privacy; security and other risks associated with our
business; management of growth; 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; 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.