Leading benefits solution provider energizes enrollment and streamlines administration to contain costs
Charleston, S.C. – April 14, 2015 – 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.”
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