CHARLESTON, S.C., Jan. 14, 2013 /PRNewswire/ -- Benefitfocus, the nation's largest provider of healthcare and benefits technology, today announced it will provide the technology platform for the private benefits exchange to be offered by Mercer, a global consulting leader in talent, health, retirement and investments. Mercer MarketplaceSM is a cloud-based private exchange designed to lower employer costs associated with competitive employee benefit packages.
The BENEFITFOCUS® Platform, which supports the private benefits exchange, will provide Mercer's clients the convenience of an online retail marketplace where they can shop, enroll, manage and exchange all benefits-related information.
"Mercer Marketplace is an important addition to the suite of solutions that Mercer provides to clients," said Sharon Cunninghis, North America Health & Benefit Region Leader of Mercer. "It will allow employers to continue offering competitive benefits to their employees, which is an important attraction and retention tool, while actively managing spending and reducing their administrative responsibilities. Employees will have access to a broader array of benefits, as well as the ability to tailor those benefits to their particular needs with the necessary support to make appropriate decisions."Developed with Benefitfocus technology, Mercer Marketplace SM delivers the flexibility and customization required for navigating complex benefit portfolios. Additionally, the Benefitfocus Platform enables Mercer Marketplace to support defined contribution models based on a percentage of an employee's income or a standard amount set by the employer, further simplifying benefit administration for Mercer's client base. "Mercer has designed such a powerful marketplace for employers to offer employees a full set of benefits in a new private exchange model," said Shawn Jenkins, President and CEO of Benefitfocus. "They have combined it with the strongest benefit administration platform to simultaneously decrease administrative costs and increase employee choice. Benefitfocus is very excited to deliver this new capability with Mercer. Our passion for delivering awesome technology via the web and mobile devices teamed with Mercer's deep experience with direct-to-consumer businesses creates a market-leading combination." The Benefitfocus Platform is built from the ground up using cloud technology, marketplace capabilities and is designed using "Mobile First" methodologies so that it can provide the best user experience on any web-enabled device.