Benefitfocus Frequently Asked Questions

What happened to the Benefitfocus Investor Relations Website and the stock BNFT?

Benefitfocus, formally traded under the ticker NASDAQ: BNFT, merged with Voya Financial, NYSE: VOYA on January 24th, 2023. As a result of the completion of the acquisition, shares of BNFT ceased trading on the Nasdaq on January 24th, 2023. More details on the transaction can be found here.

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Who is Benefitfocus?

Benefitfocus is a cloud-based benefits administration technology company. Their mission is to “improve lives with benefits,” committed to helping customers, and the people they serve, get the most out of their health care and benefit programs. Their goal is to be the safest set of hands for their customers, helping to simplify the complexity of benefits administration, while delivering an experience that engages people and unlocks the potential for better health and improved outcomes.

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Where can I find historical financial and investor information on Benefitfocus?

Following the delisting of BNFT, historical financial and Investor Relations information can be found on the Securities and Exchange commission’s website at https://www.sec.gov/edgar by searching under former ticker symbol BNFT.

For your convenience, we have included some BNFT 2022 quarterly earnings information and the latest Investor Day Presentation here:

Benefitfocus Investor Day Presentation for May 10th, 2022 can be found here.

Additional commercial press releases for Benefitfocus may be found on the press release link of the Benefitfocus website.

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Will Benefitfocus continue to operate under the Benefitfocus brand or rebrand to Voya?

Benefitfocus will continue to go to market under the Benefitfocus brand name. As we execute on our collective plans and goals for 2023, we will also begin conversations about how our two organizations can work closely together in support of our focus on growing our workplace businesses. During 2023 and in connection with these conversations, we’ll evaluate potential opportunities to more closely aligning our strategic efforts and long-term go-to-market plans, including building our partnerships with distributors and ensuring we create a strong, long-term approach to branding and marketing.

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Where can I get more information on the Company’s products, platform, and solutions?

More additional information on the Company’s website at https://www.benefitfocus.com

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What is Benefitfocus’s growth strategy?

Strengthen the Core

  • Investing in service excellence to achieve higher customer retention and references
  • Innovating on a strong technology platform to meet customers’ new and evolving needs
  • Executing on a plan led by industry veterans with proven transformational expertise

Grow with Intent

  • Deploying capital to expand and enhance core capabilities and targeted adjacencies
  • Leveraging data assets to deliver industry-leading, tech-enabled services and insights
  • Moving up market by targeting larger, higher-value customers

Increase Operational Efficiency

  • Automating processes to drive stronger gross margins
  • Optimizing sales and marketing organization
  • Implementing lean initiatives across administrative functions
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What is the history of Benefitfocus?

Benefitfocus has a long history of innovation in the benefits administration technology space. The details can be found by visiting https://www.benefitfocus.com/company/history.

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Who are the members of the Benefitfocus management team?

You can view our management team by visiting https://www.benefitfocus.com/company/leadership.

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How does the transaction advance Voya’s strategy in Health and Wealth Solutions?

The acquisition accelerates key capabilities to further execute on Voya’s integrated workplace benefits and savings strategy. Today in the market, health benefits are commonly not integrated with workplace savings such as 401(k)s, health account solutions (e.g., HSAs / FSAs) or emergency savings. We see this as a tremendous value creation opportunity for employers and their employees. For example, connecting retirement benefits to other health benefits offered by Voya and others; advancing access to an integrated workplace savings experience, such as increased value of digital tools like our myVoyage mobile app; and access to more holistic data to create engagement opportunities across benefits and savings.

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What does the role of a benefits administrator play in Voya’s workplace-centered strategy?

Voya already has tremendous technology resources, digital capabilities and operational expertise, and this transaction now adds a strong capability and expertise in benefits administration (ben admin), which is a central recordkeeping administrative capability — both with Benefitfocus and our third-party partners — and is an important component of the benefits market. Working with third-party ben admins is essential to increase our continuity with them and our ability to drive health and wealth connections. Furthermore, ben admins help build greater connectivity with third parties, and Benefitfocus will drive deeper engagement with our health and wealth partners.

Through the acquisition of Benefitfocus, Voya will now have some of the deepest capabilities across worksite benefits administration in the U.S., providing us with essential market intelligence as well as robust insights derived from participant data across a wide array of health and wealth solutions. This will enable us to help employers make more informed benefits decisions and help intermediaries provide greater value to prospects and clients.

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Can I currently invest in Benefitfocus?

Benefitfocus is currently owned by Voya Financial, which is publicly traded under the ticker symbol NYSE: VOYA

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How can I get additional shareholder information regarding Benefitfocus, Voya Financial, or the transaction that occurred?

Additional information can be found on the Voya Financial Investor Relations website or by contacting a member of the Voya Financial Investor Relations team at IR@voya.com or 212-309-8999. Information on Benefitfocus can also be found on the corporate website at https://www.benefitfocus.com.

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