PR Newswire
CHARLESTON, S.C., May 4, 2018
CHARLESTON, S.C., May 4, 2018 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform and services provider, today released its "State of Employee Benefits – Industry Edition" research report. The snapshot of real, but anonymized employee benefit election data from over 540 large employers on the BENEFITFOCUS® Platform shows employers in the education, health care, manufacturing and retail sectors are using a variety of tactics to drive selection of high-deductible health plans (HDHPs), with varying levels of adoption from employees.
In education, HDHPs are becoming the norm
Health care employers raise price of traditional health coverage to encourage HDHP adoption
Despite boom in HDHP offerings among manufacturers, more employees go with PPOs
Retail employees shoulder more health plan costs, while more employers offer voluntary benefits to supplement coverage
"Everywhere you turn there's a story about rising health care costs. What employers in every industry have in common is the struggle to economically provide the best plans and care for their employees," said Ray August, President and CEO, Benefitfocus. "The report data shows how benefits have grown horizontally, expanding to more voluntary products far beyond traditional medical insurance. This evolution is why we built BenefitsPlace™, enabling employers to pair traditional medical insurance with health, wealth, lifestyle, voluntary and ancillary benefits that give employees greater choice and coverage options at the best price."
For more findings, download the full Benefitfocus State of Employee Benefits 2018 – Industry Edition here.
About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers' health, wealth and lifestyle. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services, enable employers, insurance brokers and carriers to simplify the complexity of benefits administration and deliver a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter.
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; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; reliance on key personnel; management of growth; 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; fluctuations in our financial results; general economic risks; 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-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.
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SOURCE Benefitfocus, Inc.
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