Largest health plan based in Virginia chooses Benefitfocus as its partner to deliver its next generation consumer experience
CHARLESTON, S.C., Feb. 13, 2020 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, announced today that Optima Health, a division of Sentara Healthcare and the largest health plan headquartered in Virginia, has selected BENEFITFOCUS® MarketPlace for Carriers to simplify and enhance its member and broker experience for shopping, quoting and web enrollment.
"Our extensive experience in supporting digital transformation in the carrier market has led us to understand the importance of providing an end-to-end solution for carriers, their brokers, and customers. To have real impact, that solution needs to encompass quoting, enrollment and administration to billing and data exchange," said Ray August, President & CEO of Benefitfocus. "We're honored to be selected by Optima Health and create an enhanced member engagement experience using our AI-powered platform and coordinated ecosystem to achieve their goals for customer loyalty and trust."
Benefitfocus' one platform advantage will provide Optima Health with a solution designed to cultivate customer loyalty and trust by connecting members with the benefits that fit them best.
Optima Health offers individual and employer-based products as well as plans serving Medicare and Medicaid residents.
"At Optima Health, we pride ourselves on an excellent member and broker experience," said John DeGruttola, senior vice president of sales and marketing. "We want to provide a simple, effective solution to manage our healthcare and benefit selections. With this partnership with Benefitfocus, we are investing in technology, processes and people to better serve our customers."
MarketPlace for Carriers
MarketPlace for Carriers is Benefitfocus' AI-powered solution for personalized health insurance enrollment and automated administration across all lines of business, including group and individual. Medical carriers have one platform to support them, from beginning-stage business rating and quoting to end-stage billing and payments, while serving the diverse needs of their customers, including brokers.
MarketPlace for Carriers creates efficiencies across the benefits value chain. Delivered as a cloud service with real-time data capabilities via EDI and APIs, MarketPlace for Carriers ensures world-class data accuracy for each Benefitfocus customer. The solution includes four components: rating and quoting, enrollment and administration, billing and payments, and data exchange. The platform also allows both carriers and brokers to manage their entire business portfolio with real-time dashboards to monitor billing, participation, enrollment status and other key performance indicators.
With MarketPlace for Carriers, brokers are able to quote and onboard new clients efficiently, access and enable a complimentary set of industry leading voluntary benefits, and deliver the HR and administrative services requested by their clients, all on one platform. This strategic toolset not only stimulates sales growth, but also provides differentiation, competitive advantage, and strengthens the medical carrier's position as the anchor of the ecosystem.
Connect with Benefitfocus
To learn more about Benefitfocus MarketPlace for Carriers and its full range of offerings, including MarketPlace Enroll, click here.
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Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers' health, wealth, property and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully designed services, enable employers, insurance brokers, carriers and suppliers to simplify the complexity of benefits administration and deliver a world-class benefits experience. 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: our ability to compete effectively; management of growth; the need to innovate and provide useful products and services; the immature and volatile nature of the market for our products and services; our ability to maintain our culture and recruit and retain qualified personnel; risks related to changing healthcare and other applicable regulations; 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.
About Optima Health
Optima Health, based in Virginia, provides health insurance coverage to more than 510,000 members. With 35 years of experience, Optima Health offers a suite of commercial products including consumer-directed, employee-owned and employer-sponsored plans, individual health plans, employee assistance programs and plans serving Medicare and Medicaid enrollees. Its provider network features approximately 30,000 providers including specialists, primary care physicians and hospitals across Virginia. Optima Health also offers programs to support members with chronic illnesses, customized wellness programs and integrated clinical and behavioral health services, as well as pharmacy management—all to help members improve their health every day. The company's goals are to provide better health, be easy to use and offer services that are a great value. Optima Health is a service of Sentara Healthcare. To learn more about Optima Health, visit www.optimahealth.com.
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SOURCE Benefitfocus, Inc.