CEO or Practice Leader: Shawn Jenkins, President & CEO
Main Location / Headquarters: Charleston, SC
Founded / Exchange Launched: BenefitFocus was founded in 2000
Website: Please click here.
Membership/number of lives currently on platform: TBD
Segment size preference (“target business size”): Mainly targets large employers with more than 1,000 employees
States of operation (if available): National
Are employers required to use a defined contribution: Supports a variety of defined contribution options
Health Carriers Offered: Depends on insurance carrier or employer partner
Ancillary/Specialty Carriers Offered: Depends on insurance carrier or employer partner
Decision Support: Consumers shop and apply at their own pace in an easy, Q&A style format. Other features include: Cost estimators and plan comparison. As employees shop and enroll in benefits, a virtual shopping cart tracks the allocation of employer-sponsored contributions and employee out-of-pocket costs, there are also online videos. Decision support tools on this exchange also incorporate CodeBaby’s Intelligent Virtual Assistants (IVAs).
How does exchange get compensated: The Benefitfocus platform is sold on a subscription basis, typically through annual contracts with employer customers and multi-year contracts with insurance carrier customers, with subscription fees paid monthly
Standard or Custom Product Configuration: TBD
Do they Utilize Other Technology Company Solutions:
Single-carrier or Multi-carrier: Multi-carrier