CHARLESTON, S.C.--(BUSINESS WIRE)--Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits software solutions, has partnered with HealthTap to make it easier for employers, carriers, brokers and consumers to add virtual healthcare services to their benefits packages. BENEFITFOCUS® Platform users will be able to select HealthTap on the same platform that they use to enroll in their traditional benefits via a Benefitfocus voluntary benefit exchange and consultation solution - Benefitstore.
Benefitfocus announced the addition of Benefitstore to BENEFITFOCUS® Marketplace at its One Place 2015 conference in March, and designed Benefitstore to help make it easier to integrate supplemental benefits options into comprehensive plans with the support of a dedicated voluntary benefits team. Benefitfocus platform users will be able to select HealthTap at a preferred rate along with a selection of curated voluntary insurance and benefits services such as critical illness, hospital indemnity, accident, legal, permanent life, pet, auto, home and more.
“Benefits administrators are working to meet a growing demand for greater healthcare affordability and access,” said Benefitfocus President and COO Ray August. “By integrating core benefits, voluntary benefits, and now telehealth onto a single platform, we are making it easier for employers to offer broader benefits packages and provide access to flexible, supplemental healthcare coverage from industry-leading partners like HealthTap.”
HealthTap is the world’s largest and most trusted digital health hub, providing millions of people everywhere with 24/7 immediate access to personalized, doctor-curated medical knowledge and high-quality care. In addition to providing comprehensive medical information and advice, HealthTap also provides virtual physician consultations (via text, audio, and video); prescriptions and doctor-created health reminders; health and wellness planning and training; personalized treatments and care pathways; and additional health and medical support tools accessible via the web and mobile devices, through HealthTap’s mobile apps for Android and Apple IOS as well as the Apple Watch. With a network of more than 70,000 doctors spanning 137 specialties, HealthTap has served more than 3 billion answers to health questions from users around the world.
“We look forward to partnering closely with Benefitfocus to provide companies and their employees convenient, end-to-end virtual care,” says HealthTap CEO Ron Gutman. “Together, we will offer a total health and wellness solution that provides employees immediate access to trusted health information and care, where they can learn more about their health, get help from top doctors and take action to feel good every day.”
The American Medical Association (AMA) has reported that the market for telemedicine is expected to grow from approximately $1 billion in 2016 to $6 billion by 20201. As healthcare costs and regulations rise, the appeal for employers and employees - greater access to care, reducing time spent at doctor’s visits, and saving money – is obvious. But with virtual care visits being a relatively new practice, the 50 percent of employers expected to offer telemedicine options in 2015 are working to ensure that employees understand when telemedicine is a good option while addressing questions about care quality, service and costs.
Benefitstore has taken out some of those concerns by curating leading voluntary benefit providers and providing consultative services to help employers navigate voluntary options. The service also helps employers develop targeted communications campaigns to help their workforce make informed choices. HealthTap is available now as a voluntary benefit option on Benefitstore, giving employers time to add telehealth to their benefits plans for fall open enrollment season.
“The collaboration with Benefitfocus puts HealthTap at the forefront of delivering end-to-end virtual care across the private exchange market,” says Gary Robinson, HealthTap’s executive vice president and head of business development. “As the industry’s only total population health management solution, we have validated the model with hundreds of millions of users. We’re ready to serve even more people via enterprise channels and look forward to building mutually rewarding relationships with Benefitfocus clients and partners.”
About Benefitfocus
Benefitfocus, Inc. (NASDAQ: BNFT) is a leading provider of cloud-based benefits software solutions for consumers, employers, insurance carriers and brokers. Benefitfocus has served more than 25 million consumers on its platform that consists of an integrated portfolio of products and services enabling clients to more efficiently shop, enroll, manage and exchange benefits information. With a user-friendly interface and consumer-centric design, the Benefitfocus Platform provides one place for consumers to access all their benefits. Benefitfocus solutions support the administration of all types of benefits including core medical, dental and other voluntary benefits plans as well as wellness programs. For more information, visit www.benefitfocus.com.
About HealthTap
HealthTap has reinvented the way people all over the world take care of their health and well-being, connecting millions everywhere with the most trusted health information and care. With top-rated web and mobile apps, HealthTap offers immediate and free access to relevant, reliable, and trusted health answers from a network of more than 70,000 U.S.-licensed doctors. Sign up today and download HealthTap's free apps for iPhone, iPad or Android at healthtap.com.
1 www.seattletimes.com/business/telemedicine-making-sense-for-more-doctors-and-patients/
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; reliance on strategic relationships, including with HealthTap; 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 at http://investor.benefitfocus.com/sec.cfm 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.
