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Benefitfocus.com Launches New Data Exchange Service
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| Charleston, SC - February 17, 2004 -
Benefitfocus.com, Inc., a leading provider of enrollment and
benefits software and services, announces Benefitfocus Service
Bureau, a new data translation service available to insurance
carriers. BlueCross BlueShield of South Carolina is using Benefitfocus
Service Bureau as a benefits enrollment clearinghouse for all
its new large national clients. |
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Benefitfocus eExchange receives daily benefits enrollment and eligibility data from large employers in multiple formats. The proprietary engine then interprets and translates the data into the insurance carriers' mandated formats and sends it directly to the carriers' membership systems. A team of data exchange experts concurrently handles all communication and reporting between the carrier, the employer and any outside payroll vendors to provide seamless data transfer and integration for employers and carriers. In addition, a Web-based portal allowing full visibility to all parties 24 hours a day, seven days a week is currently in development to enhance the ongoing management of daily transmissions. |
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As electronic benefit transactions continue to dramatically increase, Benefitfocus eExchange fills the growing need for an intermediary in the data exchange between large national employers and insurance carriers.
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"Benefitfocus Service Bureau is enabling us to better serve our large multi-state clients," says BlueCross Senior Vice President, Don Nystrom. "It has significantly enhanced our workflow and is allowing us to deliver increased value to these important corporations." |
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Benefitfocus eExchange rounds out Benefitfocus' suite of benefits administration products and services by offering 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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"Benefitfocus has developed a tremendous knowledge-base in benefits EDI," says Benefitfocus.com President and CEO Shawn Jenkins. "This expertise allows us to manage a complicated process for insurance carriers quickly and efficiently. Benefitfocus eExchange is filling a critical need in ongoing benefits administration for national corporations and insurance carriers." |
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Benefitfocus eExchange supports a wide range of secure protocols from employers. This flexibility allows employers to focus on serving customers and employees rather than dedicating additional resources to data transmission.
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Benefitfocus eExchange boasts a quick reaction time and the flexibility to allow insurance carriers to streamline enrollment processes, realize increased efficiencies in workflow, and gain significant reductions in the operational costs of managing large employers.
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About Benefitfocus
Benefitfocus.com, Inc. (Benefitfocus) is a leading provider of benefits administration software and services, offering employees and employers access to all benefits and human resource information securely over the Internet. Linking this data to payroll vendors and benefit providers, Benefitfocus applications seamlessly exchange data, therefore reducing errors and costs associated with traditional paper-based forms. Benefitfocus applications are designed to make companies more efficient, cost-effective, and more focused on delivering actual benefits instead of spending time on undue paperwork.
The company is headquartered in Mount Pleasant, SC (Charleston), and has an established client base of over 8,000 corporate employers in all fifty states.
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About BlueCross BlueShield of South Carolina
BlueCross BlueShield of South Carolina is the predominant insurance provider in the state of South Carolina insuring over 1.6 million in the state. They have established themselves as a leading developer of products and services. Additionally, BlueCross BlueShield of South Carolina, with its development of My Insurance Manager, is a national award winning organization in the use of and development of leading web technologies. They may be reached at their web site at www.SouthCarolinaBlues.com
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