Benefitfocus, Inc., a leading provider of cloud-based benefits software solutions, and Health E(fx) has announced an effort to provide employers with a solution for managing health benefits under the Affordable Care Act (ACA) regulations. Beginning in early 2015, employers using the BENEFITFOCUS Platform to manage benefits enrollment and employee communication can access the Health E(fx) Platform for eligibility tracking, compliance, reporting and analytics capabilities.
The expansion of the BENEFITFOCUS Ecosystem to include the Health E(fx) Platform provides employers with a scalable workforce management solution designed to help employers streamline eligibility and affordability management and ACA compliance. The Benefitfocus API enables integration of the Health E(fx) Platform, allowing for eligibility and benefits information to be automatically updated so that data is consistent and accurate across all systems.
“Expanding our Ecosystem to include recognized best-in-class providers allows us to deliver a solution that creates more efficiencies for our growing community of clients as they face increasing administrative complexity with the ACA,” said Benefitfocus President and CEO Shawn Jenkins. “We are excited to have Health E(fx) as part of this ecosystem that is helping companies manage their benefits while simplifying compliance and addressing consumer needs.”
The Health E(fx) cloud platform automates all tracking, forecasting, and reporting to help ensure compliance while optimizing workforce and HR decisions within ACA framework. Both federal and state-by-state regulation changes are updated as they are introduced, and eligibility is tracked across all measurement and affordability rules. The Health E(fx) Platform manages all regulations and employer-specific plan information, generates required compliance reports and employee notifications, and helps employers strategically manage their benefits program through comprehensive analytics and decision support tools.