The Benefitfocus Platform enhances this model, integrating educational, engaging tools throughout the plan shopping process so consumers make informed choices in a familiar, marketplace-like environment. Cost estimators and plan comparison tools personalize the benefit selection experience, helping consumers understand not only what they’re selecting, but how their choices will impact projected costs. The Platform’s cost trackers show employer-allocated funds, employee costs and government subsidies. Employers can set subsidy amounts and definitions across their workforce.

Benefits enrollment in the increasingly consumer-driven marketplace is about more than just health insurance. Private exchanges allow employers to control their spending while still providing the type of comprehensive benefit packages and programs needed to engage and retain happy employees. Benefitfocus supports all benefits – healthcare, voluntary and financial – on its exchange platform, so employees can shop for and enroll in all of their benefits in the Benefitfocus cloud. Integrating enrollment for core medical benefits and voluntary benefits provides a competitive advantage in the changing, increasingly consumer-driven benefits space.

The Benefitfocus Platform allows individuals and employers to easily shop, compare and enroll in a variety of benefits, all in the Benefitfocus Cloud. An intuitive user interface and self-service tools make shopping for benefits a straightforward process that consumers and business owners can complete on their own or with broker assistance.

By selecting Benefitfocus to manage their private exchange, insurance carriers and organizations associate their brand with the industry’s most well-designed, easy-to-use software, creating an enjoyable and simple user experience that builds customer loyalty.

Benefitfocus provides hundreds of videos that explain common but sometimes confusing benefit terms in simple and accurate language and contextually places them as part of the user experience. For example, if a user is unfamiliar with the concept of a Health Savings Account (HSA), a short video explaining HSA benefits is available on the page where the consumer makes the HSA election. Because videos are integrated at key decision points, users don’t have to leave the exchange to obtain the information they need.

Managing an exchange’s administrative functions is a complex business. In addition to helping users find the right plans, the exchange must manage intricate eligibility rules, rating criteria and data collection for multiple markets and products.

Benefitfocus has this complicated process down to a science. For more than a decade, we have been the trusted partner of some of the largest insurance carriers in the industry, currently managing benefits and billing data for more than 300,000 employers of all sizes, in all industries. Benefitfocus technology can:

• Filter plans using configurable prequalification data
• Verify eligibility for public programs, premium tax credits or subsidies
• Analyze consumer shopping habits with a detailed reporting framework
• Enforce business rules at all levels – insurance carrier, employer and government
• Integrate online billing so users can view, pay and manage invoices online

The Benefitfocus Platform is designed to display only those choices relevant and available to each individual user, and Benefitfocus manages all product rates, requirements and enrollment data. The Benefitfocus Platform supports the entire benefit lifecycle – from new hires to life events to open enrollment to COBRA administration. All data is securely stored and managed in the Benefitfocus Cloud.