State of Nevada Public Employees' Benefits Program (PEBP) Selects Benefitfocus for Employee Enrollment Benefits Management System Modernization

Rhea-AI Summary

Benefitfocus (NASDAQ: BNFT) announced on August 9, 2021, its partnership with the State of Nevada to modernize the Public Employees' Benefits Program (PEBP). The project includes implementing the Benefitplace™ platform, allowing seamless integration with the State's SAP S4 ERP. This initiative aims to enhance employee benefits administration for over 72,000 state employees and retirees, promoting efficiency while reducing costs and risks. Benefitfocus' technology will deliver a modern enrollment experience, addressing the needs of employees and administrators effectively.

Positive

• Partnership with Nevada's PEBP to modernize benefits management.
• Implementation of Benefitplace™ platform for improved employee experience.
• Enhancement of operational efficiency and reduction of costs and risks.

Negative

• None.

CHARLESTON, S.C., Aug. 9, 2021 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading technology platform provider enabling rapid innovation for employers, health plans and consumers, today announces it is supporting the State of Nevada's efforts to modernize its eligibility and enrollment benefits management system. The state's Public Employees' Benefits Program (PEBP) selected a partnership including Benefitfocus and led by LSI, a Massachusetts-based full-service SAP Technology Solution.

By selecting the fully integrated Benefitfocus solution, PEBP will seamlessly integrate with the State's SMART21 – SAP S4 based Enterprise ERP & Finance platform which LSI is providing to the State.

"By transforming and streamlining its employee benefits administration through our technology and services, Nevada's Public Employees' Benefits Program will be able to serve employees, retirees and administrators with contemporary benefits management and enrollment services," said Matt Levin, President & CEO, Benefitfocus. "We are thrilled to work with LSI on this project, because of our shared vision of providing proven, best-in-class, fully integrated employee benefits technology solutions to the public sector market."

The Public Employees' Benefits Program (PEBP) desired a modern and innovative solution for their 72,000 state and local employees, retirees and their families. The State was able to realize significant synergy and alignment between the SMART21 and PEBP modernization initiatives, which reduce costs and risks for the State.

"PEBP is eager to transition to a platform that will provide an enhanced member experience for our employees and retirees, as well as to allow for a more efficient, integrated approach within the State of Nevada's existing systems," said Laura Rich, Executive Officer of PEBP. 

Nevada PEBP is deploying the Benefitfocus Benefitplace^TM platform for its modernization project. Benefitplace provides a single, cloud-based solution to personalize the enrollment experience and streamline benefits administration, removing the complexity for employees, retirees and administrators. It is fully integrated and supported by the SAP S4/HANA ERP, Finance, as well as the SAP SuccessFactors – Enterprise, Public Sector Employee Central CORE HR, Time & Labor, Absence Management and Payroll platforms.

"As LSI continues to expand its prime based, one-stop contracting, execution, consulting and SAP Public Sector & Higher Education offerings, establishing direct, mutually complementary based partnerships, like the one established with Benefitfocus, helps us deliver real, measurable value to the Public Sector & Higher Education marketplace," said Nader Tirandazi, Executive Vice President of LSI.

LSI – an Invenio Company
LSI (a subsidiary of the worldwide Invenio Group) is an award-winning consultancy, headquartered in Waltham MA, which solves complex business challenges with the adoption of best-in-class business practices and digitalization. The company has specialist expertise and deep experience in the Public Sector and select industries across the Private Sector, including the media and entertainment, manufacturing, chemicals, and pharmaceutical industries. Learn more at www.lsiconsulting.com, https://www.linkedin.com/company/lsi-consulting, https://twitter.com/LSI_Consulting, https://www.facebook.com/LSIConsultingSAP, https://www.instagram.com/lsiconsulting/.

Connect with Benefitfocus
To learn more about Benefitfocus' solutions for health plans, click here.
Like Benefitfocus on Facebook: https://www.facebook.com/Benefitfocus  
Follow @benefitfocus on Twitter
Follow Benefitfocus on LinkedIn
Follow Benefitfocus on Instagram

About Benefitfocus 
Benefitfocus (NASDAQ: BNFT) unifies the entire benefits industry through innovative technology solutions that bring efficiency, cost savings and simplicity to employee benefits administration. Our powerful cloud-based software, data-driven insights and thoughtfully designed services help employers, insurance brokers, health plans and suppliers address the complexity of benefits enrollment and engagement, while bringing easier access to health, wealth and lifestyle products through a world-class benefits experience. Our mission is simple: to improve lives with benefits. Learn more at www.benefitfocus.com, LinkedIn, Facebook, Instagram and Twitter.

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 might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: volatility and uncertainty in the global economy and financial markets in light of the evolving COVID-19 pandemic and uncertainties arising from the recent U.S. elections; our continuing losses and need to achieve GAAP profitability; fluctuations in our financial results; our ability to maintain our culture, retain and motivate qualified personnel; the immature and volatile market for our products and services; risks related to changing healthcare and other applicable regulations; risks associated with acquisitions; cyber-security risks; the need to innovate and provide useful products and services; our ability to compete effectively; 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.

FAQ

What did Benefitfocus announce on August 9, 2021?

Benefitfocus announced its partnership with the State of Nevada to modernize the Public Employees' Benefits Program (PEBP) using its Benefitplace™ platform.

How many employees are served by Nevada's PEBP?

Nevada's Public Employees' Benefits Program serves over 72,000 state and local employees, retirees, and their families.

What is the Benefitplace™ platform?

Benefitplace™ is a cloud-based solution designed to streamline benefits administration and personalize the enrollment experience for employees.

How does the partnership benefit Nevada's PEBP?

The partnership improves efficiency in employee benefits management and reduces costs and risks for the State.

What technology does Benefitfocus use for this project?

Benefitfocus' technology integrates with SAP S4 ERP, enhancing the overall benefits management system.