CHARLESTON, S.C., Oct. 8, 2019 /PRNewswire/ -- Benefitfocus, Inc.
(NASDAQ: BNFT), a leading cloud-based benefits management platform
and services provider, announced today it has added SAVVI Financial
LLC, a leading technology-enabled financial wellness platform, to
BenefitsPlace, its exclusive catalog of industry-leading health,
wealth, property and lifestyle products. The addition of SAVVI
represents the continued growth of products on BenefitsPlace
designed to support the financial well-being of users.
SAVVI's Value to Benefitfocus customers
SAVVI offers
individualized financial planning designed to empower employees to
achieve their goals. SAVVI delivers an actionable plan that
promotes employee confidence in their financial future, creating
more engaged and productive workers. SAVVI provides financial
advice in an actionable form—suggesting not only what the user
should do, but how. It's personalized, not only to your employees
but to their circumstances. SAVVI encourages employees to establish
short and long-term goals and keeps them on track. It helps manage
everyday finances and builds the confidence to make smarter
financial decisions.
"It's a proven fact that many employees spend a great deal of
their working hours thinking about their finances. They also face
the challenge of making sound decisions on benefits and finances in
an increasingly complex market," said Ray
August, President & CEO of Benefitfocus. "By adding
SAVVI as a BenefitsPlace partner, we can help brokers and employers
connect employees to a market-leading solution so they can make
smarter choices about their finances. That is exactly what
BenefitsPlace is designed to do, help consumers access the benefits
they need to live their best life. When the employee doesn't have
to worry about money, they excel both personally and
professionally. Everyone wins!"
Dealing with Workers' Financial Anxiety
Even in today's strong economy, many workers are anxious about
their finances, in particular, saving for retirement. According to
the "Report on the Economic Well-Being of U.S. Households in 2018,"
issued by the Federal Reserve in May
2019, 25 percent of non-retired adults have no retirement
savings or pension whatsoever. Six in 10 non-retirees who hold
self-directed retirement savings accounts, such as a 401(k) or IRA,
have little or no comfort in managing their investments.
In addition, in surveys conducted by the Employee Benefit
Research Institute, 30 percent of workers reported worrying about
finances at work and of those worrying about finances, 70 percent
worried at least somewhat often.
SAVVI's empowering technology
"Much like us,
BenefitsPlace applies a holistic approach to helping employees
enhance their health, wealth, property and lifestyle," said Gina
Mourtzinou, CEO of SAVVI. "SAVVI's ability to provide access to
reliable advice across all financial choices throughout key life
stages leads to employee financial empowerment and peace of
mind."
Find out more about how SAVVI uses technology to empower
consumers to take control of their financial future.
BenefitsPlace
Benefitfocus BenefitsPlace® provides
employers, brokers and medical insurance carriers the ability to
offer market-leading specialty benefits products from more than 40
leading brands. This product catalog provides a simplified
enrollment experience that brings all categories of voluntary
benefits together in one place.
Connect with Benefitfocus
To find out more about the
full range of health, wealth, property and lifestyle benefits
offered by Benefitfocus, go to
https://www.benefitfocus.com/solutions/benefitsplace and review the
full products catalog.
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 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, carriers and suppliers 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 strategic
relationships with third parties; our ability to compete
effectively; management of growth; the immature and volatile nature
of the market for our products and services; our ability to
maintain our culture and recruit and retain qualified personnel;
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.
About SAVVI
Started by a team of MIT PhDs with 20+
years of experience in finance, analytics, and robust optimization
with a core mission to democratize financial planning and advice,
SAVVI Financial LLC is an SEC-registered investment advisor that
delivers tax-smart financial guidance using deep quantitative
analysis to help customers achieve their financial objectives. For
more information, visit www.savvifi.com.
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SOURCE Benefitfocus, Inc.