Benefitfocus, Inc.(NASDAQ : BNFT)
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Technology Services » Packaged Software
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Benefitfocus, Inc. provides cloud-based benefits management technology solutions for employers and health plans. The Benefitfocus Platform has a multi-tenant architecture and a user-friendly interface designed for employees to access their benefits in one place. The companyâ€™s solutions support medical benefit plans and non-medical benefits, such as dental, life, disability insurance, income protection, digital health, and financial wellness. Its target market consists of the Employers and Health Plans market segments. The Employers market segment includes the sale of technology solutions on an annually recurring or multi-year subscription basis. Employers use these solutions to streamline benefits processes and control costs, keep up with regulatory requirements, and offer a variety of benefit options to attract, retain, and motivate employees. The Health Plans market segment is involved in the sale of solutions on a subscription basis to health plans, enabling the expansion of the companyâ€™s overall footprint in the benefits marketplace by aggregating key constituents, including consumers, employers, and brokers. Health Plans, also known as health insurers, health insurance carriers, or medical insurance carriers, use these solutions to market offerings to benefits-eligible employees, simplify billing, and improve the enrollment process. Brokers use the platform to manage employer portfolios. The company was founded by Mason R. Holland and Shawn A. Jenkins in June 2000 and is headquartered in Charleston, SC.