Benefitfocus.com, Inc.

Focus on the Benefits, Not on the Paperwork.

In 2000, “Focus on the benefits, not on the paperwork” became our initial mission statement and rings true today as we remove paper from the benefits process for insurance carriers, agents, employers and individual consumers.

Building a Strong Foundation 1994-2000
Forward-Thinking Technology 2001-2003
Growing by Leaps and Bounds 2004-2006
Seizing the Day 2007-2013

1994

  • Mason Holland, Jr., American Pensions, Inc. founder, and Shawn Jenkins meet. Shortly after, Jenkins joins the company and buys into it in 1997.

1997

  • Together they build a software platform that allows employers to manage their 401(k) plans over the Internet.
  • Out of this comes the realization that a similar platform could help employers and employees manage their health insurance.

1999

  • Armed with the information that 30 percent of U.S. healthcare spending is on administration, as publicized by First Lady Hillary Clinton in 1993, Jenkins and Holland set out to form a new company to address this need.

2000

  • In March, the NASDAQ crashes; an event that became known as the dot-com bubble collapse.
  • In June, Holland and Jenkins defy conventional wisdom and form Benefitfocus.com, Inc. to create an Internet-based software solution designed to streamline corporate benefits administration.
  • Jenkins becomes the president and CEO while Holland assumes the position of chairman of the board for the new Software as a Service company.
  • Occupying a former Wal-Mart building, the young company sets its sights on growing large enough to fill the 40,000 square foot space.

2001

  • Benefitfocus eEnrollment™ is designed to accommodate electronic benefit enrollment for employer groups. Unknowingly, this application would become the Benefitfocus Platform™ and spur rapid growth for the company.
  • The Company acquires its first client, employee-owned Piggly Wiggly Carolina Co.
  • Handling Piggly Wiggly’s benefits requires sending data to BlueCross BlueShield of South Carolina.
  • Seeing the capabilities of web-enabled eEnrollment, BlueCross BlueShield of South Carolina partners with Benefitfocus to provide the technology to all of its clients using the private label BluesEnroll.
  • BlueChoice HealthPlan partners with the Company to offer eEnrollment, privately labeled as CompanionQuickEnroll, to employer groups with more than 50 employees.
  • Tweaking the Benefitfocus business model, the focus becomes selling directly to insurance carriers.

2002

  • Embracing the innovative technology, Blue Cross and Blue Shield of North Carolina – the state’s largest insurer – signs a five-year agreement for eEnrollment.
  • Using IBM’s infrastructure, Benefitfocus and IBM announce their collaborative strength for the eEnrollment solution.
  • Blue Cross and Blue Shield of Kansas City – the market leader within 32 counties – signs a partnership agreement with Benefitfocus to streamline their enrollment processes.
  • Benefitfocus and BlueCross BlueShield of South Carolina co-host the inaugural Blues on the Battery event for executives of Blue Plans. Designed to expose clients and prospects to trends and product offerings, the conference also helps facilitate relationships.

2003

  • Benefitfocus hosts the first annual Carrier User Group Conference. This collaborative event showcases new developments with Benefitfocus products and services, and allows participants to provide input about the direction and strategy of our products.
  • The Company launches Benefitfocus eExchange™ to address benefits data exchange, another key component of healthcare benefits administration.
  • Arkansas Blue Cross and Blue Shield joins the technology movement by signing a four-year agreement for eEnrollment to serve more than 898,000 members.

2004

  • The Company launches Benefitfocus eBilling™ to complement its online enrollment capabilities with an electronic invoice presentment and payment system. BlueChoice HealthPlan becomes the first health plan to adopt eBilling. BlueCross BlueShield of South Carolina follows suit shortly thereafter.
  • Seeing a need to grow the engineering community, Benefitfocus establishes the Greenville, S.C. office to be near colleges producing quality software engineers.
  • Administering benefits to over 1.8 million individuals in Iowa and South Dakota, Wellmark Blue Cross and Blue Shield partners with Benefitfocus to offer eEnrollment to their membership.
  • Benefitfocus continues to experience significant growth, ending the year with 230 associates.

2005

  • Serving 180,000 members, La Cruz Azul de Puerto Rico (Blue Cross of Puerto Rico) partners with Benefitfocus to offer multilingual benefit enrollment and claims presentment technology.
  • Blue Cross and Blue Shield of Nebraska joins the growing list of clients with 10,700 members when it selects Benefitfocus eEnrollment and eExchange.

  • Increasing the number to 14 Blue Plan partners reaching 12.5 million members, Blue Cross and Blue Shield of Oklahoma signs on with Benefitfocus to provide electronic enrollment, billing and data exchange services to 500,000 members.
  • The Charleston Digital Corridor and Charleston Regional Business Journal name Benefitfocus Innovator of the Year, which honors individuals and organizations that have demonstrated the spirit of innovation.
  • Benefitfocus is designated the “Fastest Growing Tech Company in South Carolina” by The South Carolina Technology Alliance.
  • Adding 148 additional associates throughout the year, Benefitfocus breaks ground on its new Charleston, S.C. facility located on Daniel Island.

2006

  • Blue Cross Blue Shield of Massachusetts selects Benefitfocus to provide eBilling to 2.9 million members.
  • Philadelphia-based Independence Blue Cross partners with Benefitfocus to deliver eEnrollment to its 3.4 million members.
  • Embracing rapid growth, Benefitfocus moves into its new 140,000 square ft., state-of-the-art facility on Daniel Island in Charleston, S.C.
  • Blue Cross and Blue Shield of Florida chooses Benefitfocus sales and enrollment technology to automate their offerings for more than 8.6 million members.

2007

  • Realizing the need to communicate complex healthcare information with video, the Company creates Benefitfocus Media™ and adds Emmy award-winning Anchor Nina Sossamon-Pogue to the Company’s growing leadership team.
  • Blue Cross and Blue Shield of Florida expands its relationship with Benefitfocus to provide electronic billing for its groups.
  • CareFirst Blue Cross Blue Shield, serving more than 3.1 million members, partners with Benefitfocus technology to automate enrollment for its small group market.
  • The Company launches Benefitfocus eDirect™ to reach the nation's growing individual market.
  • Benefitfocus unveils the first-of-its-kind Healthcare Media Studio, which is devoted solely to creating healthcare-oriented video content for healthcare companies and healthcare professionals.

2008

  • Simplifying complex healthcare benefits information, the Company launches Benefitfocus Video as a Service™ to educate and empower employees.
  • Benefitfocus achieves a Company milestone with more than 100,000 employer groups live in production. To commemorate, all associates revisit the original office building and celebrate with cowbells, champagne and fireworks in the parking lot.
  • Serving more than 100,000 subscribers and approximately 5,000 groups, Blue Cross and Blue Shield of Montana chooses Benefitfocus technology for online enrollment and billing.
  • The company launches BENEFITFOCUS HR INTOUCH® as a benefits communication portal for employers.
  • Serving 3.2 million members, Blue Shield of California selects Benefitfocus to provide online enrollment.
  • The Company introduces the Benefitfocus Max™ Family of data exchange standards to provide an industry standard for all types of benefits.
  • Expanding its presence in Greenville, S.C., Benefitfocus holds a red ribbon ceremony for its new facility to house 200 more associates.
  • Piggly Wiggly adds Benefitfocus HR InTouch to its offerings to streamline communications with employee-owners.

2009

  • Planning for the future, CareFirst BlueCross BlueShield extends its relationship with Benefitfocus for an additional ten years to offer the end-to-end platform.
  • Benefitfocus expands to a second building on its main campus located on Daniel Island in Charleston, S.C.
  • Extending its reach to individual consumers, BlueChoice HealthPlan adds Benefitfocus eDirect to its offerings.
  • Existing partners extend agreements for Benefitfocus Software as a Service solutions including USAble Life, Blue Cross and Blue Shield of Kansas City, Wellmark and Morganite.
  • Hawaii Medical Service Association selects eEnrollment and eExchange to reach more than 700,000 members to increase efficiencies and automate processes.
  • Benefitfocus receives SAS 70 Type I certification, verifying that it has efficiently-designed controls for all client-facing products and services.

2010

  • Benefitfocus launches its iPhone application for users to download videos from icyou on an array of healthcare-related topics, as well as view individuals talking about their health-related journeys and healthcare experts sharing the latest health news and insights.
  • Maryland Health Care Commission awards Benefitfocus the contract to develop a web portal labeled VIRTUAL COMPARE. The information-only web portal allows small employers with 2-50 employees to compare side-by-side benefit details, limitations, cost sharing and premiums for the health plans that are offered by Maryland licensed insurers, non-profit health service plans and HMOs.
  • With healthcare rapidly becoming a consumer market, coupled with an explosion in the availability of healthcare-related information, Benefitfocus invests in “semantic search” technologies with the acquisition of Belief Networks. This company specializes in advanced data mining, semantic intelligence and machine learning.
  • A free Healthcare Reform Certification Program is released during the summer. The program is designed to educate HR and benefits experts, healthcare insurance professionals and consumers about new healthcare reform laws.
  • Benefitfocus acquires Benefit Informatics, a benefit information management company that provides modeling and forecasting, data analytics and data warehousing services. As a wholly-owned subsidiary of Benefitfocus, the company brings 2.7 million consumers to the Benefitfocus Platform.
  • NASCO and Benefitfocus form a strategic alliance to provide Blue Plans with a pre-built, certified solution for online enrollment and billing. The integration between the Benefitfocus Platform and NASCO's MembersEdge® membership system provides Blue Plans with a complete solution for shopping, enrollment, membership, claims processing and billing.
  • Benefitfocus completes a SAS 70 Type II audit following a three-year investment in technology processes and controls.

2011

2012

  • SuccessFactors and Benefitfocus announce a strategic partnership, bringing employers an end-to-end HR and benefits solution from the leading provider of business execution software and a leading benefits technology company.
  • Benefitfocus publishes its first book, Benefitfocus: Winning with Culture, focusing on the company's culture and how it helps make the company successful. The book features associate and client testimonials about what it's really like at Benefitfocus.
  • The HR InTouch Marketplace is unveiled at One Place 2012, providing the industry's first complete private exchange offering for large employers.
  • Benefitfocus opens its 5,640 square foot office in San Francisco. The new office is the first of many developments Benefitfocus has planned to support continuous expansion and innovation.
  • The SC Chamber of Commerce awards Benefitfocus as one of the 2012 Best Places to Work in South Carolina.
  • South Carolina Governor Nikki Haley visits Benefitfocus for the grand opening of its world-class engineering facility on its Daniel Island campus. The grand opening comes with an announcement that Benefitfocus plans to add 300 associates over the next two years.

2013

  • Benefitfocus hosted its 3rd annual One Place conference in Charleston, SC April 30 - May 3. The “Next 5 Octobers” was a key theme as the ACA legislation is rolling out key provisions over the next few years.
  • For the second consecutive year, Benefitfocus was recognized as one of the Best Places to Work by the South Carolina Chamber of Commerce, a program that recognizes South Carolina companies who offer exceptional workplace environments for their employees.
  • Colonial Life, Humana, Liberty Mutual and Trustmark joined the Benefitfocus Ecosystem as the newest voluntary benefit app partners.
  • Benefitfocus and HSA Bank, a division of Webster Bank, N.A., formed a strategic alliance to provide employees access to Health Savings Accounts (HSA) through HR InTouch.
  • Benefitfocus became a publicly traded company on September 18, 2013, trading on the NASDAQ Stock Market under the ticker symbol "BNFT."
  • Benefitfocus breaks ground on an expansion project that will triple the size of its Charleston campus, strengthening the technology industry on the East Coast and in the greater Charleston region.