CHARLESTON, S.C., May 30, 2019 /PRNewswire/ -- Benefitfocus,
Inc. (NASDAQ: BNFT), a leading cloud-based benefits management
platform and services provider, today announced its newest
BenefitsPlace™ insurance carrier partnership with MassMutual, a
leading provider of voluntary benefits. Employers using the
BenefitsPlace platform will now have the ability to elect to offer
MassMutual's Universal Life and Whole Life insurance products,
along with the company's innovative financial wellness tool,
MapMyFinances.
MassMutual joins other top insurance carrier brands and
voluntary benefits product suppliers on the industry's largest
benefits platform. Employers and their trusted advisors rely on
Benefitfocus to simplify the business of benefits and seamlessly
deliver the largest offering of best-in-class benefits products to
protect employees and their families. The BenefitsPlace platform
offers a range of health, wealth, lifestyle and property insurance
benefits for consumers' personal wellbeing and protection for each
stage of life.
"MassMutual is a valuable addition to our platform because its
goal – helping consumers make the best possible benefits choices
for themselves and their families – truly embodies our vision of
delivering the right benefits to consumers in the moments that
matter," said Ray August, President
& CEO of Benefitfocus. "Our focus on growing the industry's
best benefits platform goes beyond scale to ensure we're improving
lives. As the industry prepares for the 2020 open enrollment
season, our BenefitsPlace platform will help employees and their
families choose the right benefits products for themselves from the
best-known brands, like MassMutual, and have the security of
knowing their needs are well-protected."
"Our recent research found that 48 percent of middle-income
Americans worry about their household's financial situation at
least once a week, while 23 percent worry every day," said
Jon Shuman, Head of Worksite Sales
& Distribution, MassMutual. "Those numbers indicate widespread
financial stress, so it's no wonder financial wellness benefits are
in great demand among employees. The good news for employers is
that offering a greater variety of voluntary benefits can help, as
58 percent of employees say they feel more financially secure
because of benefits offered through their jobs. We're proud to join
the BenefitsPlace platform, and hope our products and services will
help boost employees' financial confidence."
About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies
the entire U.S. benefits industry on a single technology platform
to protect consumers' health, wealth, property 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.
About MassMutual
MassMutual is a leading mutual life
insurance company that is run for the benefit of its members and
participating policyowners. MassMutual offers a wide range of
financial products and services, including life insurance,
disability income insurance, long term care insurance, annuities,
retirement plans and other employee benefits. For more information,
visit www.massmutual.com.
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; management of growth; our
ability to compete effectively; our ability to maintain our culture
and recruit and retain qualified personnel; the immature and
volatile nature of the market for our products and services; risks
related to changing healthcare and other applicable regulations;
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.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/massmutual-joins-benefitfocus-platform-with-three-new-benefitsplace-certified-products-300859139.html
SOURCE Benefitfocus, Inc.