Benefitfocus Introduces For You SC to Assist South Carolina Residents Affected by the Economic Downturn
Online selection of benefits options offers wide array of health and financial solutions from state and national providers
Charleston, S.C. – May 11, 2020 – Benefitfocus, Inc. (NASDAQ: BNFT), a technology platform provider enabling rapid innovation for employers, health plans and consumers, has launched For You SC, an initiative to offer a selection of health insurance, life insurance, financial services and lifestyle benefits for residents of South Carolina who have been impacted by the economic downturn caused by COVID-19.
ForYouSC.com directs South Carolinians to a range of insurance, benefits and resources, some of which are only available in the state. This offering, accessible online or via mobile devices, is designed to provide a wide array of options to those facing unemployment or economic uncertainty during this crisis through a single digital experience.
“Our mission is to connect consumers to the benefits and services that improve their lives and, since the onset of this crisis, we have worked diligently and quickly to help those most directly affected,” said Ray August, president and CEO of Benefitfocus. “We are now paying particular attention to helping those in our home state. For You SC is our initial effort to present a state-focused option to residents who may need them the most.”
Through the end of 2020, Benefitfocus will donate profits generated through For You SC to the One SC Fund: COVID-19 Response. This partnership between SC Grantmakers Network, Together SC, and the United Way Association of SC will enhance the efforts already underway in several counties and regions across South Carolina to address gaps in the response efforts, including support for communities that lack resources or an organized philanthropic response.
Benefits Options for South Carolina Residents
According to the U.S. Labor Department, more than 33 million Americans have filed for unemployment insurance in a seven-week period since the start of the coronavirus crisis. Millions of other self-employed workers have seen their income shrink. Many now have to find benefit plans to replace those provided by their former employers or to revisit their current benefits to determine if they meet their needs, and they will have to do so without the help of an employer.
South Carolina residents visiting ForYouSC.com will find information to help them easily navigate the process of choosing specific benefit options that meet their personal needs, many of which are only available within the state, including short- and long-term health plans from a local provider. Additionally, Colonial Life & Accident Insurance Company, headquartered in Columbia, is offering accident, dental and whole life insurance.
“We are proud to partner with other South Carolina companies to help protect the families, finances and futures of Palmetto State residents,” said Tim Arnold, president and CEO of Colonial Life. “It’s important for families facing unexpected hardships to be able to rely on valuable insurance coverage to remain physically and financially healthy.”
Both the state-focused health plans and national offerings from Doctors on Demand provide virtual care, a service of growing importance as more consumers rely on telehealth as an alternative to in-person care and consultation.
The site will also have access to national offerings, such as: student loan refinancing from CommonBond; auto and home insurance from Liberty Mutual and Bristol West; prescription savings through ScriptSave WellRX; and grocery shopping and delivery services from Shipt.
Benefitfocus plans to offer similarly tailored consumer solutions, such as For You SC, in other states across the country.
Creating Consumer Access - Benefitplace.com
ForYouSC.com is part of the direct-to-consumer benefits offering through benefitplace.com, which launched in April as a resource for independent workers and displaced employees to access a selection of affordable individual and family health plans, as well as a variety of other products and services to support their well-being through this challenging time.
Benefitplace.com reflects Benefitfocus’ long-term strategy to support consumers’ health and financial well-being. It is designed to help individuals who do not have benefits through an employer or have lost their group benefits and are looking to ensure they and their family have access to health, financial, lifestyle and other benefits. Benefitfocus has constructed its benefits platform so that users receive access to a personal account where they can shop for individual health plans and voluntary benefits to support them and their family’s needs for life.
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Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers for life. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services enable employers, insurance brokers, health plans and suppliers to simplify the complexity of benefits administration and deliver health, wealth, property and lifestyle products through a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter.
Certain products available on the BENEFITFOCUS BENEFITPLACE™ platform may be regulated through various state agencies as insurance products. Regulated insurance products are offered through brokers affiliated with BenefitStore, Inc. (doing business as 627 Benefits Insurance Agency in California and 627 Insurance Broker Agency in New York), a licensed insurance agency and wholly owned subsidiary of Benefitfocus, or through your, your association’s, or your employer’s appointed broker as applicable. Any insurance coverage is subject to the issuer’s underwriting standards, fees and other terms and conditions associated with specific offering or services as determined by the issuer or provider.
DISCLAIMER REGARDING FORWARD LOOKING STATEMENTS
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; the immature and volatile nature of the market for our products and services; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; privacy; security and other risks associated with our business; management of growth; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.