Business coalition’s 10 member organizations to gain greater insight into health care spending
Charleston, S.C. – Nov. 19, 2015 – Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, today announced that the MEI Employer Coalition of Southeastern Wisconsin has arranged for each of its member organizations to purchase BENEFITFOCUS® Advanced Analytics to help evaluate more effective benefits strategies and control health care spending. With easy-to-use tools that provide a variety of on-demand health care data metrics, 10 Wisconsin-based employers – representing more than 10,000 employees – will be able to better understand historical health care costs and employee benefit utilization, and help predict future costs.
“With greater understanding of where money is being spent and different patterns of utilization, the Coalition members can start to draw more meaningful conclusions about health care costs and benefit programs,” said Richard Dowdle, Managing Director for the MEI Coalition. “This insight will help them make informed decisions to drive lower costs while still offering competitive coverage to their employees.”
Along with more than 80 standard applications, custom filtering and ad hoc reporting, Coalition members will take advantage of Advanced Analytics’ Plan Modeling & Forecasting functionality to quickly and efficiently evaluate health plan design modifications. The integrated Cost Share Estimator application allows users to create “what if” plan scenarios and use aggregate employee claims history to develop a comprehensive view of future plan costs. Through the application’s user-friendly design and intuitive workflow, each employer will be able to see extensive plan design alternatives in a matter of minutes.
“As organizations continue to adapt their benefit strategy in response to the evolving health care landscape, unlocking the power of data is essential to making better decisions,” said Benefitfocus CEO Shawn Jenkins. “We’re thrilled to support MEI Coalition members with insights that can help them plan for the future and get more value from their benefit offerings.”
Benefitfocus, Inc. (NASDAQ: BNFT) is a leading provider of cloud-based benefits management software for consumers, employers, insurance carriers and brokers. Benefitfocus has served more than 25 million consumers on its platform that consists of an integrated portfolio of products and services enabling clients to more efficiently shop, enroll, manage and exchange benefits information. With a user-friendly interface and consumer-centric design, the Benefitfocus Platform provides one place for consumers to access all their benefits. Benefitfocus solutions support the administration of all types of benefits including core medical, dental and other voluntary benefits plans as well as wellness programs. For more information, visit www.benefitfocus.com.
Established in the mid-1990s, the MEI Coalition gives its business members in Southeastern Wisconsin more power in negotiating healthcare costs with insurers, managed care companies and healthcare providers. MEI is managed by Milwaukee-based Coalition Services, LLC. For more information, visit www.coalitionservices.com.
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results 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; changes in government regulations; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth; management of growth; fluctuations in our financial results; general economic risks; reliance on key personnel; 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; 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.cfm 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.