Providing more benefit choices for employees
Schaumburg, Ill. May 18, 2020—benefitexpress™, a leading provider of cloud-based technology software and services for employee benefits administration, announced today a new lifestyle Benefits Marketplace powered by Corestream’s leading platform for connecting employees with personalized lifestyle benefits.
The Benefitexpress Marketplace comes at no cost to companies and enables employers to offer more lifestyle benefits without the administrative burden while increasing employee engagement. Seamlessly integrated with benefitexpress’ proprietary administration platform, My Benefit Express™, employees can elect from a wide selection of lifestyle products to create a unique set of benefits personalized for their needs. Types of products include employee loan programs for short term loans or student loan repayment, employee purchase programs, legal assistance, pet insurance, identity theft, home and auto insurance and a large array of employee discounts.
Corestream’s platform streamlines and automates benefit selection, payroll integration, contract negotiation and remediation, remittance of payments and reconciliation of premiums for individual employees, allowing employers to regularly add valuable employee benefits without taking on additional administrative work or costs. A program of planned year-round communications with targeted and personalized campaigns drive employee engagement.
"We are pleased to bring new solutions to help our clients and their employees during these unprecedented times. The Marketplace provides more options for our clients’ employees when they need them most,” says Michael Sternklar, CEO of benefitexpress.
“The variety of products and the ease of payment through payroll deductions simplify and streamline the employee experience. For example, employees may need quick access to funds and their current solution might be to withdraw from their 401(k). A better option through the Marketplace could be a low-cost loan that the employee can pay back via automatic payroll deductions. This alleviates risks of taking money from a 401k to provide a short-term financial safety net.”
“Today we’re happy to announce with benefitexpress the first in a series of collaborative efforts that will bring more lifestyle benefits to employees more easily than ever,” said Neil Vaswani, CEO of Corestream. “Helping bring broader benefits to more employees is particularly important during these challenging times. Our proven capabilities in this space coupled with benefitexpress’ leading benefit administration software and service immediately delivers additional value-added solutions to their current and future clients and broker partners. Our ongoing work together will produce an even greater number of lifestyle benefits that are accessible by employees with ever-greater ease.”
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 daily administration, full-service contact center, integrated ACA administration, reimbursement account administration, dependent eligibility audits and total compensation statements. For more, visit https://www.benefitexpress.info
Corestream is a leading voluntary benefits technology provider that believes the success of any organization relies on the overall wellness of its workforce, from physical and mental health to financial wellbeing. Corestream’s revolutionary SaaS platform scales the distribution and adoption of voluntary benefits to become an integral part of protecting and enhancing the employees’ livelihood. By removing barriers and streamlining administration, Corestream has become a powerful tool in the arsenal of HR teams, brokers, vendors, and employees. For more information, visit Corestream.com.
Why wait for open enrollment? The Benefitexpress Marketplace is available year-round for employees to take advantage of carefully selected employee-paid benefit options and product discounts. Download our product sheet to learn more!