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Benefitfocus has its roots in high-volume, mass transactions for retirement benefits administration, and has been able to address the insurance industry’s need for new technology with its knowledge and experience in insurance and benefit administration.
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In 1988, Mason Holland founded American Pensions, Inc., the largest pension administration and consulting firm in South Carolina. Holland’s 18 years of experience dealing with ERISA Qualified Retirement Plans and Employee Benefit Programs lead to the creation of Benefitfocus.
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With the help of API’s vice president, Shawn Jenkins, Holland recognized the need to respond to customer requests for additional services. API began implementing solutions using new technology, including the use of the Web. As demand grew, it became apparent that there was a need for a separate application focusing on corporate benefit administration.
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In the spring of 2000, armed with the vision of providing a comprehensive, cutting-edge benefit solution, Benefitfocus.com, Inc. was formed. After a short-term period housed in an office suite in the API Building, the Company moved to office space at 627 Johnnie Dodds Blvd. in Mount Pleasant, SC.
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| API Building | 627 Johnnie Dodds Blvd | New Corporate Headquarters |
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Shawn Jenkins became the president and Chief Executive Officer of Benefitfocus.com, Inc., In this role, Jenkins is responsible for operations and strategic positioning of the firm and sits on the Board of Directors. Mason Holland became Chairman of the Board for the Company. In this capacity, Holland is in charge of all Board activities. He is also responsible for coordination of strategic partnerships with industry leaders and the development of large client relationships. |
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Benefitfocus initially designed the application, Benefitfocus eEnrollment™, to accommodate electronic benefit enrollment for employer groups. BlueCross BlueShield of South Carolina was an early adopter of the technology, and signed the first contract with Benefitfocus in 2001 for electronic enrollment. Within three months, BlueCross BlueShield of South Carolina was able to begin enrolling groups using Benefitfocus’ Web interface, privately labeled BluesEnroll.
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Benefitfocus designed its application to include the management of a wide variety of employer-provided benefits, while keeping the application simple to use and cost-effective. Benefitfocus has experienced outstanding growth by delivering world-class customer service, providing the best technology available, and operating a financially responsible company.
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In 2003, Benefitfocus launched its data exchange service, Benefitfocus eExchange™. Benefitfocus eExchange offers a way for companies with existing HRIS systems or third-party payroll vendors to communicate effectively and efficiently with carriers without having to use multiple applications or hire additional IT staff.
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In 2004, Benefitfocus launched its electronic billing application, Benefitfocus eBilling™. It has been rapidly and widely adopted by health plans that see the immediate payback of delivering premium and claims bills in near real-time while eliminating the delays and costs of printing and shipping. During 2004, Benefitfocus also opened a second office in Greenville, SC.
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In October 2006, Benefitfocus moved into its new headquarters onto Daniel Island in Charleston, SC. The new state-of-the-art 140,000 square foot facility is the result of a 25 million dollar capital investment and is home to over 400 Benefitfocus Associates. From 2006 to 2009, the Company projects the addition of, 300 new high-technology positions. Job opportunities range in scope from software development and engineering positions to customer relationship and project management opportunities.
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Benefitfocus large multi-national employers, as well as leading U.S. health insurance companies, to streamline benefits enrollment, eligibility, billing and data exchange. The Company is engaged by over 89,000 corporate clients across the United States.
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