Benefitfocus and Castlight Health Team to Improve Healthcare Decisions and Reduce Costs
Mar 8, 2016
Industry leaders align product development efforts, Comcast signs on as client and lead product advisor
Orlando, Fla. – March 8, 2016 – Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits management platform, today announced a partnership with Castlight Health to provide year-round benefits management, financial, health and wellness decision support. Announced at its annual user conference, Benefitfocus ONE PLACE®, the partnership was developed with significant input from senior benefit leaders at Comcast Corporation.
“This partnership represents the completion of a total consumer-driven healthcare experience. The Benefitfocus enterprise benefits management platform combined with Castlight’s suite of products will provide employees the information and technology they need to remain in the driver’s seat from benefits election to provider selection,” said Benefitfocus CEO Shawn Jenkins.
“It’s more important than ever for leading enterprises to help improve healthcare quality, address rising costs of care, engage employees throughout the year and importantly, help them select the right plan during open enrollment,” said Giovanni Colella, M.D., co-founder and CEO of Castlight Health. “We are honored to work with Benefitfocus, a like-minded company focused on helping enterprises and employees reign in healthcare costs through access to better information.”
To address the growing trend toward outcome-based healthcare, Castlight Health and Benefitfocus will release a unified solution that is designed to engage employees by helping guide them to the best healthcare decisions. Starting during open enrollment on BENEFITFOCUS® Marketplace, employees will have access to additional data through Castlight Health to help guide employees to the right program, the right care, at the right time.
Providing a unified experience for employers and employees will:
- Improve employee plan fit during open enrollment. The unified solution will increase employee visibility into plan costs and quality of care, providing them with the information to assist employees in plan selection.
- Retain employee engagement throughout the year. By combining Castlight’s proven multi-channel engagement with the new content management capabilities available through the Benefitfocus Marketplace, HR leaders will have the tools they need to increase employee engagement in healthcare.
- Drive down healthcare costs. With year-round access to the Castlight Health Benefits Platform, employees will be better positioned to make informed healthcare decisions, a key variable in improving healthcare quality outcomes and reducing healthcare costs.
Clients and customers interested in learning more about the joint solution may register their interest here. Currently under development, the unified solution is planned for a fall 2016 release.
“At Comcast we’re focused on engaging our entire employee population with a best-in-class ecosystem so they have the information they need to make better decisions when it comes to managing their overall health and well-being,” said Shawn Leavitt, senior vice president of global benefits for Comcast Corporation. “We firmly believe in deploying visionary tools from leading partners, and I’m excited to serve as the product advisor for this first-of-its-kind offering.”
About Castlight Health
Our mission is to empower people to make the best choices for their health and to help companies make the most of their health benefits. We offer a health benefits platform that engages employees to make better healthcare decisions and guide them to the right program, care, and provider. The platform also enables benefit leaders to communicate and measure their programs while driving employee engagement with targeted, relevant communications. Castlight has partnered with more than 190 customers, spanning millions of lives, to improve healthcare outcomes, lower costs, and increase benefits satisfaction.
Benefitfocus (NASDAQ: BNFT) provides a leading cloud-based benefits management platform that simplifies how organizations and individuals shop for, enroll in, manage and exchange benefits. Every day leading employers, insurance companies and millions of consumers rely on our platform to manage, scale and exchange benefits data seamlessly. In an increasingly complex benefits landscape, we bring order to chaos so our clients and their employees have access to better information, make better decisions and lead better lives. 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 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 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.