# Benefits Administration * **Definition:** The process of managing and overseeing the employee benefits program of an organization, including the administration of various benefits plans and services, often facilitated by integrated systems or SaaS platforms. * **Taxonomy:** Healthcare Topics / Benefits Administration ## News * Selected news on the topic of **Benefits Administration**, for healthcare technology leaders * 1.4K news items are in the system for this topic * Posts have been filtered for tech and healthcare-related keywords | Date | Title | Source | | --- | --- | --- | | 4/24/2025 | [**Most hospital emergency rooms ask patients about food or housing insecurity**](https://www.chiefhealthcareexecutive.com/view/most-hospital-emergency-rooms-ask-patients-about-food-or-housing-insecurity) | [[Chief Healthcare Executive]] | | 3/24/2025 | [**Strada to Now Offer Workday Benefits Administration Service**](https://finance.yahoo.com/news/strada-now-offer-workday-benefits-100000459.html) | [[Yahoo Finance]] | | 3/12/2025 | [**Andrew Taylor Joins Selerix Executive Leadership Team as Chief Technology Officer**](https://finance.yahoo.com/news/andrew-taylor-joins-selerix-executive-130000161.html) | [[Yahoo Finance]] | | 3/11/2025 | [**Reclaim Health Integrates AI-powered Healthcare Financial Management into WEX's ...**](https://www.prnewswire.com/news-releases/reclaim-health-integrates-ai-powered-healthcare-financial-management-into-wexs-benefits-administration-solution-302394733.html) | [[PR Newswire]] | | 2/18/2025 | [**PlanSource Unveils Bold AI-Driven Plans to Transform the Benefits Experience for HR Administrators**](https://finance.yahoo.com/news/plansource-unveils-bold-ai-driven-120000489.html) | [[Yahoo Finance]] | | 2/13/2025 | [**HRMS & HCM Software Market to Reach $24 Billion by 2030 - PR Newswire**](https://www.prnewswire.com/news-releases/hrms--hcm-software-market-to-reach-24-billion-by-2030-valuates-report-reveals-key-growth-drivers-and-trends--valuates-reports-302376390.html) | [[PR Newswire]] | | 2/10/2025 | [**bswift Paves the Way for All Employers to Save Millions and Promote Benefits Equity With its ...**](https://www.prnewswire.com/news-releases/bswift-paves-the-way-for-all-employers-to-save-millions-and-promote-benefits-equity-with-its-ai-driven-dependent-verification-solution-302371474.html) | [[PR Newswire]] | | 2/6/2025 | [**Doctor's Orders: Lynx Gets $27 Million to Close Health and Finance Gap**](https://www.pymnts.com/healthcare-financing/2025/doctors-orders-lynx-gets-27-million-to-close-health-and-finance-gap/) | [[PYMTScom]] | | 2/6/2025 | [**Selerix Acquires TBX® to Create an All-in-One Benefits Administration SaaS Platform**](https://finance.yahoo.com/news/selerix-acquires-tbx-create-one-140000358.html) | [[Yahoo Finance]] | | 1/14/2025 | [**Benefitfocus launches innovative approach to digital health-solution management with 'Care Partner Panel'**](http://www.businesswire.com/news/home/20250114051564/en/Benefitfocus-launches-innovative-approach-to-digital-health-solution-management-with-%E2%80%98Care-Partner-Panel%E2%80%99/?feedref=JjAwJuNHiystnCoBq_hl-Q-tiwWZwkcswR1UZtV7eGe24xL9TZOyQUMS3J72mJlQ7fxFuNFTHSunhvli30RlBNXya2izy9YOgHlBiZQk2LOzmn6JePCpHPCiYGaEx4DL1Rq8pNwkf3AarimpDzQGuQ==) | [[Business Wire]] | | 1/14/2025 | [**Benefitfocus launches innovative approach to digital health-solution management with 'Care Partner Panel'**](http://www.businesswire.com/news/home/20250114051564/en/Benefitfocus-launches-innovative-approach-to-digital-health-solution-management-with-%E2%80%98Care-Partner-Panel%E2%80%99/?feedref=JjAwJuNHiystnCoBq_hl-RLXHJgazfQJNuOVHefdHP-D8R-QU5o2AvY8bhI9uvWSD8DYIYv4TIC1g1u0AKcacnnViVjtb72bOP4-4nHK5ieT3WxPE8m_kWI77F87CseT) | [[Business Wire]] | | 1/14/2025 | [**Mike Ehlers Joins PlanSource as Chief Technology Officer - Yahoo Finance**](https://finance.yahoo.com/news/mike-ehlers-joins-plansource-chief-120000072.html) | [[Yahoo Finance]] | | 1/6/2025 | [**Eddie Pinto Joins PlanSource as SVP, Product**](https://finance.yahoo.com/news/eddie-pinto-joins-plansource-svp-120000938.html) | [[Yahoo Finance]] | | 1/2/2025 | [**ISG Advisors Recognized as 2024 HRO Today Superstars**](http://www.businesswire.com/news/home/20250102561772/en/ISG-Advisors-Recognized-as-2024-HRO-Today-Superstars/?feedref=JjAwJuNHiystnCoBq_hl-Q-tiwWZwkcswR1UZtV7eGe24xL9TZOyQUMS3J72mJlQ7fxFuNFTHSunhvli30RlBNXya2izy9YOgHlBiZQk2LOzmn6JePCpHPCiYGaEx4DL1Rq8pNwkf3AarimpDzQGuQ==) | [[Business Wire]] | | 12/9/2024 | [**Soda Health Secures $50M to Grow Smart Benefits Platform**](https://medcitynews.com/2024/12/benefits-administration-funding/) | [[MedCity News]] | | 11/25/2024 | [**Benefits Administration Service Market size is set to grow by USD 144.7 billion from 2024 ...**](https://finance.yahoo.com/news/benefits-administration-market-size-set-183300633.html) | [[Yahoo Finance]] | | 11/25/2024 | [**Benefits Administration Service Market size is set to grow by USD 144.7 billion from 2024 ...**](https://www.prnewswire.com/news-releases/benefits-administration-service-market-size-is-set-to-grow-by-usd-144-7-billion-from-2024-2028--increasing-focus-on-employee-wellness-boost-the-market--technavio-302314933.html) | [[PR Newswire]] | | 10/22/2024 | [**Bridgeway Benefit Technologies Forms Strategic Partnership with The Berwyn Group for ...**](https://www.prnewswire.com/news-releases/bridgeway-benefit-technologies-forms-strategic-partnership-with-the-berwyn-group-for-death-audit-and-locate-solutions-302283244.html) | [[PR Newswire]] | | 9/24/2024 | [**Shore Capital Benefits Administration Insights, Part I: 7 Tips to Building A Great Business and 3 Trends Impacting Investor Outlook**](http://www.businesswire.com/news/home/20240924891505/en/Shore-Capital-Benefits-Administration-Insights-Part-I-7-Tips-to-Building-A-Great-Business-and-3-Trends-Impacting-Investor-Outlook/?feedref=JjAwJuNHiystnCoBq_hl-RLXHJgazfQJNuOVHefdHP-D8R-QU5o2AvY8bhI9uvWSD8DYIYv4TIC1g1u0AKcacnnViVjtb72bOP4-4nHK5ieT3WxPE8m_kWI77F87CseT) | [[Business Wire]] | | 9/24/2024 | [**Shore Capital Benefits Administration Insights, Part I: 7 Tips to Building A Great Business and 3 Trends Impacting Investor Outlook**](http://www.businesswire.com/news/home/20240924891505/en/Shore-Capital-Benefits-Administration-Insights-Part-I-7-Tips-to-Building-A-Great-Business-and-3-Trends-Impacting-Investor-Outlook/?feedref=JjAwJuNHiystnCoBq_hl-Q-tiwWZwkcswR1UZtV7eGe24xL9TZOyQUMS3J72mJlQ7fxFuNFTHSunhvli30RlBNXya2izy9YOgHlBiZQk2LOzmn6JePCpHPCiYGaEx4DL1Rq8pNwkf3AarimpDzQGuQ==) | [[Business Wire]] | | 9/18/2024 | [**Reliance Matrix releases enhanced Small Business Solutions product suite**](https://finance.yahoo.com/news/reliance-matrix-releases-enhanced-small-130000902.html) | [[Yahoo Finance]] | | 9/17/2024 | [**AI in HR: More Than a Trend, It's a Game-Changer, New bswift Commissioned Study Reveals**](https://www.prnewswire.com/news-releases/ai-in-hr-more-than-a-trend-its-a-game-changer-new-bswift-commissioned-study-reveals-302249792.html) | [[PR Newswire]] | | 9/9/2024 | [**Strengthening Data Security in Healthcare Benefits Administration: The Role of HITRUST ...**](https://www.healthcareittoday.com/2024/09/09/strengthening-data-security-in-healthcare-benefits-administration-the-role-of-hitrust-certified-systems/) | [[Healthcare IT Today]] | | 2/8/2024 | [**How can you ensure vendor accountability in benefits administration?**](https://www.linkedin.com/advice/1/how-can-you-ensure-vendor-accountability-benefits-r7z3c) | [[Linkedin]] | | 1/2/2024 | [**What are the most common mistakes employers make in benefits administration and how can you avoid them?**](https://www.linkedin.com/advice/1/what-most-common-mistakes-employers-make-benefits-o5oif) | [[Linkedin]] | ## Topic Overview (Some LLM-derived content — please confirm with above primary sources) ### Key Players - **Bentek**: A benefits administration technology provider recognized for prioritizing the human element in benefits management. - **Bridgeway Benefit Technologies**: A provider of multiemployer benefits administration technology solutions, serving the Taft-Hartley community. - **Elevate**: A consumer-directed benefits administration platform that automates benefits accounts management. - **PlanSource**: A technology and services company that simplifies employee benefits administration, serving over 5 million consumers. - **S&S Health**: A company enhancing its leadership team with experienced executives to bolster capabilities in benefit administration solutions. - **bswift**: Recognized for its innovative approach in employee benefits technology and administration. - **Benify**: A global benefits administration software provider, recently acquired by Zellis Group to enhance offerings in employee engagement and benefits. - **Benefitfocus**: A technology company that simplifies benefits administration and enhances employee engagement through digital health solutions. - **Selerix**: Offers comprehensive benefits administration solutions, simplifying enrollment and enhancing data accuracy. - **Collective Health**: A third-party health benefits administrator that consolidates employee benefits into one platform. - **Alight, Inc.**: A company providing a benefits administration platform that integrates AI and expert support to enhance employee experiences and streamline administrative processes. - **Businessolver**: A provider of benefits administration solutions that has enhanced its MyChoice Find a Provider tool to improve healthcare access. - **Healthee**: Offers an enhanced plan comparison tool to simplify open enrollment and improve decision support for employees. - **Conduent**: A technology company enhancing employee benefits administration through AI-driven solutions. ### Partnerships and Collaborations - **BCS Financial and Employee Navigator**: Partnership to enhance enrollment and administration of BCS's EssentialCare products. - **Elevate**: Collaborates with various industry partners to deliver an integrated benefits account experience for employers and employees. - **The Berwyn Group and Bridgeway Benefit Technologies**: A strategic partnership to improve pension plan population management for Bridgeway's customers. - **BizCare Benefits and VensureHR**: BizCare Benefits collaborates with VensureHR to enhance benefits solutions for employer clients. - **Selerix and TBX**: Acquisition to enhance employee engagement and education in benefits administration. - **Benefitfocus and Health Advocate**: Collaboration to offer a diverse range of health solutions through the Care Partner Panel. - **Ensurise and Barker HR Consulting**: Partnered to enhance employee benefits practices and HR consulting services. - **Soda Health and General Catalyst**: Funding to enhance the administration of Medicare Advantage benefits. - **Sun Life U.S.**: Integrated claims across its disability, supplemental health, stop-loss, and dental products to streamline the benefits process for members. - **WEX and Employers**: WEX has partnered with select employers to pilot AI enhancements aimed at improving employee decision-making during open enrollment. - **Conduent and Jellyvision**: Collaborated to integrate AI-driven tools for better employee understanding of health benefits. - **Decisely and Fiducius**: Formed a partnership to provide customizable employee benefits focusing on financial stability. - **Flimp and Aptia**: Strategic partnership to provide customizable benefits education solutions. - **XO Health + Decent and S&S Healthcare**: Partnership to provide competitive pricing and better outcomes for employers. - **Beeck Center for Social Impact + Ballmer Group**: Collaboration to enhance digital benefits and service delivery for government services. - **XO Health and S&S Healthcare**: Partnership to provide competitive pricing and improved outcomes for employers. - **PDI Technologies and Paycor HCM**: Integration of Paycor's solutions into PDI Enterprise to enhance workforce management. - **Astrana Health and Collaborative Health Systems**: Astrana Health is acquiring Collaborative Health Systems to enhance management services for independent primary care practices. - **SKYGEN and Pacific Life**: A partnership to enhance dental benefits management efficiency through SKYGEN's technology. ### Innovations, Trends, and Initiatives - **Employee Benefits Technology Advancements**: bswift's AI-powered solutions enhance the benefits experience for employees and employers. - **AI in Benefits Administration**: Companies like bswift and Elevate are integrating AI to enhance employee experience and streamline benefits administration. - **Cloud-Based Solutions**: The market is shifting towards cloud-based benefits administration for flexibility and cost-effectiveness. - **Sounder Benefits' Approach**: Utilizes advanced data analytics to create comprehensive benefits strategies focusing on cost management and employee satisfaction. - **Cybersecurity Measures**: Organizations are increasingly focusing on robust cybersecurity to protect sensitive data in benefits administration. - **Decision Support Technology**: Employers are increasingly adopting decision support technology to improve employee understanding of benefits. - **AI Integration**: Alight's Worklife platform integrates AI to streamline administrative processes and enhance employee experiences in benefits management. - **Smart Benefits platform by Soda Health**: A platform allowing members to use benefit dollars on approved goods and services. - **Bridgeway University**: An on-demand training platform for Taft-Hartley benefit administrators to enhance organizational learning. - **Employee Benefits Portals**: HR managers are utilizing these portals to enhance employee accountability for health choices, although engagement remains a challenge. - **AI Enhancements by WEX**: WEX's Benefit Assistant AI agent provides personalized support for over 1,500 benefits-related topics, while BeneFITwise Premier analyzes health claims data for financial insights. - **Digital Benefits Implementation**: Efforts to create low-barrier entry points for accessing benefits, as seen with the Beeck Center's initiatives. - **Investment in Technology**: Global employers are investing in technology for streamlined benefits administration, as seen in the merger of Benify and Zellis Group. - **Mobile-first Interfaces**: Strada's Workday Benefits Administration offers a mobile-first interface for easier benefits management. - **Elevate's Cloud-Based Solution**: Elevate offers a cloud-based, API-driven solution to enhance efficiency and security in benefits administration. ### Challenges and Concerns - **Complexity of Benefits Administration**: HR departments face challenges in effectively communicating and managing complex benefits systems. - **Administrative Burdens**: Streamlining benefits administration is crucial to reduce administrative burdens for employers and improve compliance. - **Rising Costs**: The Benefits Administration industry faces challenges due to rising costs, regulatory complexity, and economic uncertainty. - **Department of Veterans Affairs**: Facing significant challenges in implementing a new benefits administration system, with costs rising from $2.5 billion to $7.7 billion. - **Vendor Accountability**: Outsourcing benefits administration can lead to challenges in accountability and quality control. - **HR Workload**: The increasing complexity of benefits administration is placing a burden on HR teams, necessitating the need for AI and automation to streamline processes. - **Data Privacy and Compliance**: As benefits administration becomes more digital, concerns about data privacy and compliance with regulations are increasing. - **Compliance and Communication**: Employers face challenges in keeping benefits policies updated and effectively communicating with employees. - **Inequities in Benefits Utilization**: Soda Health aims to address challenges in healthcare benefits administration to optimize spending and improve outcomes. - **Employee Engagement**: Ensuring effective communication and engagement with employees regarding their benefits remains a challenge for organizations. - **Employee Burnout**: High levels of stress and burnout among employees highlight the need for better support in navigating benefits. - **Confusion Over Benefits**: 84% of employees report confusion about their benefits, highlighting the need for clearer communication and technology solutions. - **Employee Confusion**: 86% of employees feel confused about their benefits, indicating a need for better communication and education. - **Healthcare Affordability**: Rising healthcare costs are a primary concern for employers, impacting their ability to retain employees and manage out-of-pocket expenses. - **Budget Shortfall for VA**: A $3 billion budget shortfall threatens veterans' benefits, attributed to increased enrollment and benefits applications. - **Financial Wellbeing Gap**: A significant gap exists between employer perceptions of wellbeing programs and employee needs, particularly regarding financial security. - **Healthcare Costs**: Rising healthcare costs are driving employers to seek innovative solutions like ICHRA to provide cost-effective health benefits.