Picwell and benefitexpress have announced a strategic partnership aimed at helping employees reduce confusion during enrollment, and choose the best benefits.
Benefits are a valuable addition to your compensation package, but only if participants understand how to fully utilize them. At benefitexpress, we've created communication tools like our Total Compensation Statements to help our clients communicate the value of their benefit offerings. Today, we're announcing the next step with the BeneFITwise Intelligence Guide, our enhanced decision support engine – part of the newest version of our fully outsourced benefits administration platform.
PHILADELPHIA, Pa. — Picwell, the company providing the most advanced predictive recommendation engine for health plan selection, and benefitexpress, a leading provider of benefits administration software to employers, have announced a strategic partnership aimed at helping employees reduce confusion during enrollment, and choose the best benefits. This initiative will enable benefitexpress to offer a new, leading plan selection and decision support experience to their customers, helping their employees find and choose the best benefits within a few easy steps.
Selecting health benefits is a source of considerable confusion due to the complexities associated with insurance. 61% of employees overspend on their health benefits because they choose the wrong benefits (1). Most plan selection and decision support tools are known for their ability to educate consumers and compare options. However, Picwell’s distinct product uses advanced analytics to predict individual risk and costs, account for preferences, and recommend the best health benefits based on the options available.
“The partnership between Picwell and benefitexpress will broaden our reach to employees and improve value for benefitexpress’ customers, ultimately helping more people be confident with the benefits they choose. We have made significant advances to Picwell’s proprietary technology over the last year and believe this partnership with benefitexpress can help further build on our efforts to grow.”
— Matthew Sydney, President and CEO, Picwell
“Partnering with Picwell allows us to bring a richer experience to employees selecting benefits. We incorporate the artificial intelligence solutions of Picwell to seamlessly guide the enrollment process of benefitexpress. With Picwell, decision support is more than lifestyle driven – it leverages preferences and requirements to bring an objective, well-rounded ranking of available plans to employees – supporting a vision of transforming choice in healthcare.”
— Scott Evans, Chief Product Officer, benefitexpress
The partnership includes the following two main components:
- benefitexpress will now offer BeneFITwise Intelligence Guide, leveraging Picwell’s plan selection and decision support product as a premium option of My Benefit Express, its flagship product for fully outsourced benefits administration
- Picwell and benefitexpress will collaborate on strategic opportunities to leverage Picwell’s technology and analytics in efforts to continue improving benefitexpress’ customer experience and value to their employer market
Picwell is a healthcare technology company providing leading enterprise solutions to enhance healthcare benefits and improve the consumer experience. Picwell’s flagship offering is a SaaS-based decision support product that uses artificial intelligence to match individuals to the right health benefits during enrollment by predicting future care considerations, estimating out-of-pocket expenses, and accounting for individual preferences. Other solutions support consumerism and high-deductible health plan adoption, consumer engagement, and risk management.
Born from benefits experts, benefitexpress delivers industry-leading cloud-based benefits administration technology solutions and services to employers and broker partners and is always ‘at the ready’ for their employees. With client-tested integrated benefits administration, benefitexpress provides technology, flexibility and customer services to the simple and most complex benefit plans. Software and services span a suite of end-to-end solutions including a full-service call center, daily administration, integrated ACA administration, reimbursement account administration, dependent eligibility audits, and total compensation statements. For more information, visit www.benefitexpress.info.