Benefitfocus Launches Benefitplace.com Providing Lower Cost Health & Benefit Options for Displaced American Workers
Platform offers essential benefit alternatives for people in a time of transition
CHARLESTON, S.C., April 22, 2020 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a technology platform provider enabling rapid innovation for employers, health plans and consumers, has activated the next phase of its recently announced "For You" initiative to support employees of customers who have lost their job in these challenging economic conditions. Today the company launched www.benefitplace.com, a new website that makes accessible a variety of affordable individual and family health plans for employees who have been offered COBRA by their employers and are seeking lower-cost alternatives, as well as a variety of other products and services to support the well-being of displaced workers through this time of crisis and beyond.
"Connecting America's workforce to the products and services that improve their health and financial well-being is at the core of what we do, and this is more relevant today than perhaps any time in the past 50 years," said Ray August, president and CEO of Benefitfocus. "We are in a period of severe economic crisis and many workers fear for their continued health and other benefits coverage. With the launch of benefitplace.com, we're here for our customers' employees and their families to continue access to affordable and quality options."
Now, with BENEFITFOCUS BENEFITPLACE™, as employers are faced with a cycle of workforce transition, affected employees have ready access to high-quality, cost-effective benefits. Within Benefitplace, workers who have been displaced and need options will be able to access:
- Health Plans: Flexible options for employees to purchase short- or long-term health plans for individuals and families in addition to ACA exchange policies or COBRA offered by their former employer
- Supplemental benefits: A comprehensive catalog of discounted benefit related products and services, such as dental, vision and accident coverage
- Year-round access: As affected employees transition into new job opportunities, or as family needs change, Benefitplace offers a range of options for them to make changes and select new benefits that will meet their life needs
- Employment Resources: Access to temporary or freelance employment opportunities with Benefitplace partners and customers
- For Life: Ability to maintain individual plans regardless of employment status, and stay connected to their prior employer for possible re-engagement when the business climate improves.
The launch of Benefitplace.com furthers the company's mission to connect people with the benefits that improves their lives. As employers deal with this period of crisis, Benefitfocus offers tools and support to enable future return-to-work initiatives. To learn more, the business community is invited to join the ongoing series of webinars to discuss employee well-being, the national relief effort, business continuity strategies and HR best practices to inform employers' pandemic response.
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Access www.benefitplace.com
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About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers for life. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services enable employers, insurance brokers, health plans and suppliers to simplify the complexity of benefits administration and deliver health, wealth, property and lifestyle products through a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter.
DISCLAIMER
Certain products available on the BENEFITFOCUS BENEFITPLACE™ platform may be regulated through various state agencies as insurance products. Regulated insurance products are offered through brokers affiliated with BenefitStore, Inc. (doing business as 627 Benefits Insurance Agency in California and 627 Insurance Broker Agency in New York), a licensed insurance agency and wholly owned subsidiary of Benefitfocus, or through your, your association's, or your employer's appointed broker as applicable.
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; risks related to changing healthcare and other applicable regulations; the immature and volatile nature of the market for our products and services; 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; management of growth; 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.
SOURCE Benefitfocus, Inc.
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