Benefitfocus Unveils New Data-Driven Decision Support Tools in Fourth Major 2015 Software Release

CHARLESTON, S.C. -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, announced major new platform upgrades today as part of its Winter Software Release. With fall open enrollment coming to a close, benefits professionals now have new data transparency and analytics tools that provide fast, easy access to verify enrollment information and plan for next year’s open enrollment.


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“As HR teams begin to evaluate their open enrollment period, our winter release will provide the additional insight and visibility they require to guide more personalized, effective benefits decisions for their company and employees,” said Benefitfocus President and COO Ray August.

Robust suite of business analysis tools in a single platform.

The Winter Software Release features several new platform configurations available to all clients. These new configurations provide deeper insights that can significantly improve benefits management and plan efficiency in three key areas: (1) enhanced data transmission visibility, (2) more personalized benefits management and (3) simplified benefits communications. A few of the most innovative new features include:

    Data exchange dashboard provides benefits professionals with at-a-glance visibility into all data files transmitted by Benefitfocus on their behalf. With the data exchange dashboard, benefits professionals can quickly and easily verify that enrollment and deduction information has been successfully delivered to payroll systems and benefit carriers. More importantly, benefits professionals can quickly pinpoint data that may be in question—all without using a business analyst or the need to decipher complex 834 payroll provider standards or other file transmission formats.
    Condition-driven cost estimator allows employees to more easily and accurately estimate their actual out-of-pocket costs for chronic or planned medical conditions, such as diabetes or pregnancy. Instead of commonly used industry averages, the cost estimator, based on MEPS data, provides a personalized projection of out-of-pocket costs—including co-pays, hospital services and prescriptions—for the employee’s age group, gender and geographic region.
    Episode analysis report is an essential tool for benefits executives, particularly as the industry transitions to outcome-based health management. Part of the optional BENEFITFOCUS® Advanced Analytics package, this powerful new report provides a comprehensive picture of all services and costs associated with a specific condition or episode, giving executives better information to provide the care a segment of the workforce may need at an affordable price.

The latest platform upgrade includes many additional new feature enhancements. To learn more, prospective Benefitfocus clients can schedule a personalized walk through of the platform. Current Benefitfocus clients can access an overview of the Winter Software Release and learn more about the platform’s capabilities by visiting Benefitfocus’ customer portal, One Place 365.

About Benefitfocus
Benefitfocus (NASDAQ: BNFT) provides a leading cloud-based benefits management platform that simplifies how organizations and individuals shop for, enroll in, manage and exchange benefits. Every day leading employers, insurance companies and millions of consumers rely on our platform to manage, scale and exchange benefits data seamlessly. In an increasingly complex benefits landscape, we bring order to chaos so our clients and their employees have access to better information, make better decisions and lead better lives. Learn more at www.benefitfocus.com, LinkedIn and Twitter.