CHARLESTON, S.C., June 7, 2018 /PRNewswire/ -- Benefitfocus, Inc. (BNFT), a leading cloud-based benefits management platform and services provider, today announces several specialty suppliers are joining Benefitfocus® BenefitsPlace™. BrightDime, CommonBond, GoodRx, Gradvisor and Kashable's voluntary benefits will all be available on the platform.
Employers, brokers, insurance carriers and product suppliers of all types rely on BenefitsPlace to connect best-in-class voluntary and ancillary benefits products with more than 20 million consumers. As Benefitfocus works to build the most diverse benefits product portfolio in the industry, its BenefitsPlace suppliers add popular voluntary benefits, spanning financial wellness, student loan benefits, college saving, prescription drug price comparison and installment loans. The BenefitsPlace platform offers a complete range of health, wealth and lifestyle benefits for consumers' personal wellbeing and protection for each stage of life.
"We've seen the average number of benefit types offered by employers grow to 15 or more," said Ray August, President and CEO, Benefitfocus. "BenefitsPlace significantly reduces employers' risk, making it easier than ever to manage the growing number of plans that gives consumers better choice. We are driving down complexity for the employer's benefits administration and standardizing data integrations with product providers."
Benefitfocus launched its BenefitsPlace Integration Community at an event held at the company's Charleston, S.C. headquarters, May 17-18. The event introduced BenefitsPlace Carriers and Suppliers to the Benefitfocus API solution, which standardizes the technical integration with the Benefitfocus Platform. Carriers and suppliers who use the Benefitfocus API are integration certified. This allows partners to streamline eligibility, compliance and documentation requirements seamlessly though BenefitsPlace.
The standardized system design makes it easy for partners to add products on the platform, which are delivered almost immediately to brokers and employers, and in the hands of consumers quickly. The BenefitsPlace pre-defined product configuration and data quality criteria ensure every product is turn-key for employers and brokers, and that billing data is in sync with customers' HR and payroll system of record.
Benefitfocus and BenefitsPlace are transforming the U.S. employee benefits industry. For more information visit https://www.benefitfocus.com/benefitsplace.
Benefitfocus (BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers' health, wealth and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services, enable employers, insurance brokers and carriers to simplify the complexity of benefits administration and deliver a world-class benefits experience. The Benefitfocus platform is industry leading in reliability and peak response rate. 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 or performance 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; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; reliance on key personnel; management of growth; changes in government regulations; fluctuations in our financial results; general economic risks; 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.