Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, announced today the expansion of the Benefitfocus Ecosystem to provide employers access to the largest community of health, wealth and wellness providers available in one place. Employers can now unify every aspect of their benefits program to increase employee engagement and position themselves ahead of the pack in today’s competitive job market.
In 2015 the U.S. job market grew by 2.65 million jobs—the second best year since 1999. While most industries saw large job gains, the greatest numbers came in construction, health care and business services. For employers, this means employees now have more opportunity to move freely from one employer to the next, commanding higher wages and better benefits as they go. That makes it mission critical to build out the most comprehensive benefits package available, and as the competition heats up, many employers are looking to voluntary benefits and ancillary products and services to entice prospective employees and retain their current workforce.
The expanded partner network within the Benefitfocus Ecosystem and BENEFITFOCUS® Benefitstore offers employers the largest assemblage of voluntary and ancillary benefits available through any one technology provider. This central hub, which is easily integrated into BENEFITFOCUS® Marketplace, is a breath of fresh air for HR departments accustomed to stale, inflexible benefit modules. Administrators can access, design and optimize benefit plans and track utilization within one central analytics dashboard, and the BENEFITFOCUS® Platform seamlessly formats and transmits essential data to every service provider.
“Our ecosystem strategy empowers our community of clients to tailor their Benefitfocus Marketplace to meet their unique needs with solutions from industry leaders,” said Benefitfocus President Ray August. “With today’s greater focus on the impact of wellness and engagement in the workplace, we are excited to make available a broader array of solutions from exceptional providers in the wellness and engagement space.”
The newest additions to the Benefitfocus Ecosystem and Benefitstore include:
- Limeade: Limeade improves employee well-being while energizing workplace cultures. Employees earn points and rewards for taking steps to improve well-being, while employers see engagement and move the needle on their business goals.
- Zipongo: Members receive personalized recommendations based on their biometrics and dietary needs. These recommendations are tied to convenient, real-time actions that enable healthy eating at home and at work, including healthy recipes, meal planning tools and discounts and incentives to healthy groceries.
- SimpleFi: SimpleFi financially empowers employees to overcome their challenges. Employees can maximize their retirement contributions, pay off debt, and afford medical costs through highly accessible and affordable credit tailored to emergency personal needs, combined with one-on-one financial coaching for long-term financial success and behavior change.
- DRB: DRB is dedicated to helping professionally employed graduates refinance or consolidate their high rate student loans to a lower interest rate. DRB customers have saved $20,000+ over the life of their loan on average after refinancing. Borrowers in all 50 states.