Innovation never ends in the employee benefits industry. Here are some of the latest product announcements:
BrightPlan launched the BrightPlan Financial Wellness Coach. Using AI, it creates a personalized financial plan and provides ongoing guidance and actionable next steps for employees. The Coach advises on every major aspect of personal finance: spending analysis, goals-based planning, investing, debt management, estate planning, insurance, and financial education. It also calculates a financial wellness score and suggests steps employees can take to increase it. Employees also have access to a team of financial advisors from Plancorp.
GIS Health Care (GISHC) announced its Employer Hub, based on HealthStyles.Net, and adapted specifically for employers. It aims to provide convenient, intuitive access to an employer's investment, insurance, medical and wellness partners. It backstops the whole process with extensive support for caregivers, and is designed to offer executive-type support for all employees.
Zappos.com and Fender announced the launch of a wellness benefit that promotes enhanced work-life balance through music learning. It is available to all Zappos employees on an opt-in basis and includes access to Fender Play, a guided online learning program. Fender is also outfitting Zappos' "Jam Room" with Fender instruments, amps and accessories. Zappos employees will also receive a discount on select gear and instruments on Fender.com.
Coterie Advisory Group announced the launch of a new group health insurance plan for the employer marketplace. Fundamental Care is designed to help solve the issues surrounding affordability and high-deductibles. Its pricing is targeted to be 70% the cost of traditional high-deductible health plans, with no deductibles.
Fiduciary Benchmarks (FBi) launched the Business Management Dashboard – an open architecture platform where retirement advisors can bring together all of their data and tools to structure client and prospect workflows. The first integrations being built are concentrating on investment analytics and RFP providers. The company's Global Retirement Partners (GRP) rolled out the platform across their advisor group.
Vericred announced the launch of its HRA Development Kit. It includes Group and Individual Rating APIs, which provide technology platforms with a means to generate quotes in both markets from health insurance carriers; Group to Individual Disruption Analysis, which lets brokers and employers examine how shifting employees from traditional group plans to individual market plans would impact in-network access to their favored providers; and Shop by Doctor and Shop by Drug, enabling employees to shop for individual insurance plans based on their preferred doctors and prescription drug requirements.
DirectPath announced that it has integrated GoodRx's pricing data into its transparency member portal. DirectPath members can now access prescription cost information, as well as comparative cost information about medical procedures and treatments, via a single online platform. Members also have access to DirectPath advocates, who can discuss the information presented.
Limeade launched the new expanded Global Well-Being Activity Library, a collection of more than 125 science-backed activities designed to improve employee well-being in the workplace. Activities address physical, emotional, financial and work well-being. They are locally translated into 13 languages, customized to a person's organizational culture, and globally relevant.The Global Well-Being Activity Library is available to new and existing Limeade customers.
Voya Financial announced that its retirement business has added a new target-date fund. Designed by flexPATH Strategies, MyCompass Index is now available to all of Voya's retirement plan customers. Voya states that MyCompass Index includes the following: multiple participant glide paths; fund name transparency; and fiduciary protection.
Principal announced it is incorporating capabilities from the Wells Fargo IRT platform into its own proprietary recordkeeping platform which will serve Principal and transitioning Wells Fargo IRT customers. The enhancements to the Principal platform are expected to be available in 2020 and coincide with the transition of Wells Fargo IRT clients to the Principal platform.
Former Zenefits founder Parker Conrad's new company Rippling announced a new feature in its employee management system. Its all-in-one integrated system for payroll, benefits admin and HR will also provide brokers a tool with which to work with existing Rippling customers as well as using Rippling when competing for new business through its new Broker Partner Program.
READ MORE:
- Benefits industry products roundup: Square, SafetyNet, The Standard & more
- Benefits industry products roundup: PBM system, AI college counseling, financial wellness
- Benefits industry tools & products roundup: Limeade, Cetera, Bind
- Employee benefits product roundup: Intuitive chatbot, LTC coverage, empathy test
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