BenefiX – Benefits Data Exchange
BenefiX is SS&C’s simple and cost-effective solution to employee benefits data management and exchange. It is a cloud-based data exchange service that simplifies the transforming, translating, and transmitting of employee benefits data to insurance carriers and administrators. BenefiX eases the burden of data integration associated with benefits administration. Once the integration is in place, all clients need to do is send the BenefiX service a valid HR-XML enrollment file and that’s it; they’re done. This allows your organization to focus on satisfying customers and achieving business goals.
Carrier Data Exchange Hub
Traditionally, the data exchange involved in benefit administration is an IT-intensive effort. Organizations often have programmers write custom applications for each file that needs to be sent to each insurance carrier. This approach to benefits management is costly, time-consuming, not scalable, and inefficient. Originally developed and deployed by BenefitsXML in 2005, BenefiX has continued to revolutionize the traditional approach to data exchange service as a fully owned SS&C solution since 2011. No longer does your organization need to write custom applications in order to send employee benefits management data to your partners. With a single standards-based API, your data can be sent to any vendor in the BenefiX library of pre-built integration adapters. This means your organization does not need to learn a vendor’s proprietary or “standard” ANSI X.12 834 format. BenefiX simply receives your data through its standard API and performs all of the transformation, translation, and transmission.
- Secure data management.
- Open API based on HR-XML industry consortium.
- Initial and ongoing carrier testing.
- Carrier and Plan-Sponsor structure mapping and value translation rules.
- Self-service creation and maintenance of the Plan-Sponsor exchanges.
- Data quality thresholds with optional transmission holds when thresholds exceeded.
- Resolution of all transmission problems with carrier.
- Analysis of discrepancy reports.
To discover how our benefits administration platform can revolutionize the data exchange involved in benefits management, contact us.