CHARLESTON, S.C.--(BUSINESS WIRE)--Benefitfocus, Inc. (NASDAQ: BNFT) announced today that Schneider Electric has selected BENEFITFOCUS® Marketplace to deliver a consumer-driven benefits experience for its more than 20,000 active workers and 5,000 retirees in the U.S. The benefits platform will provide an intuitive, user-friendly enrollment portal for Schneider Electric employees and will deliver an efficient administration solution aimed at optimizing plan design while containing healthcare costs.
“Benefitfocus Marketplace will empower our employees through the platform’s decision support tools – enabling them to make more informed benefit choices based on their individual health and financial needs,” said Joe Anderson, Director, HR Shared Services, at Schneider Electric. “The platform also provides our HR Shared Services Department with a functionally rich set of administrative tools that streamline and automate key processes, such as evidence of insurability updates, dependent verifications and vendor data management."
Schneider Electric is a global specialist in energy management with operations in more than 100 countries. With goals to reduce costs while maximizing benefit plan accessibility and value for its large workforce, the company will now be able to provide its employees with a personalized benefits shopping experience. The user interface features include best match package recommendations, coverage calculators, text message notifications, and the ability to view benefits, costs and employer contributions on a single page – making it easy for employees to choose and enroll in benefits that are right for them and their families.
The Benefitfocus Marketplace’s newly enhanced administrator interface can significantly reduce workloads with features including automated payroll audit and reconciliation, eligibility and plan participation dashboards, expanded employee profiles and a new data exchange dashboard that provides administrators with transparency to transactions on the platform.
Schneider Electric also enlisted the BENEFITFOCUS® Benefits Service Center to supplement its person-to-person HR capacity with a specialized team to support its retiree benefit administration, telephonic enrollment and fulfillment.
“Energy is a driving force that powers economies and communities, but the key is how to harness and deliver that energy in a way that is accessible and efficient. The same is true in providing benefits,” said Benefitfocus CEO Shawn Jenkins. “We are very excited to work with Schneider Electric and provide solutions to help its employees make informed decisions and unlock the true value of their benefits options.”
Benefitfocus, Inc. (NASDAQ: BNFT) is a leading provider of cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. Benefitfocus has served more than 25 million consumers on its platform that consists of an integrated portfolio of products and services enabling clients to more efficiently shop, enroll, manage and exchange benefits information. With a user-friendly interface and consumer-centric design, the Benefitfocus Platform provides one place for consumers to access all their benefits. Benefitfocus solutions support the administration of all types of benefits including core medical, dental and other voluntary benefits plans as well as wellness programs. For more information, visit www.benefitfocus.com.
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: the need to innovate and provide useful products and services; changes in government regulations; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth; management of growth; fluctuations in our financial results; general economic risks; reliance on key personnel; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; 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.cfm 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.