Morganite Realizes Significant Savings with Benefitfocus HR InTouch

Adoption of online benefits software results in 178 percent annual return on investment

CHARLESTON, SC – September 14, 2010 – Morganite Industries, a U.S.-based manufacturing subsidiary of Morgan Crucible, has dramatically reduced the costs of providing benefits to its employees through the implementation of Benefitfocus technology. According to an August 2010 Nucleus Research ROI assessment, Morganite achieved an annual return on investment of 178 percent through its use of the Benefitfocus Platform, HR InTouch Application and HR Support Center. Morganite has been using Benefitfocus technology since 2006 for online enrollment and data exchange. The company adopted both HR InTouch and the HR Support Center in August 2009 and recouped their initial investment in less than seven months.

The company always conducted Open Enrollment manually with close to 20 different benefit plans across the U.S. The challenge was to convert our paper-based benefits management to something that was more cost-effective and efficient, shared Chris Jaynes, Benefits Manager for Morganite Industries, Inc. By selecting Benefitfocus we are able to leverage technology that simplifies and streamlines our processes while gaining economies of scale. In fact, we are now down to four plans for our U.S.-based employees.

Benefitfocus HR InTouch provides Morganite’s 2,500 located employees in ten locations across the U.S. with a comprehensive and powerful online portal that supports benefit enrollment and communication, HR efficiency, and health and wellness promotion. Through a single portal the product connects employees with all their benefits, integrates with multiple payers, and synchronizes with payroll systems while allowing the company to maintain one system of record for employee benefits. The Benefitfocus HR Support Center provides extra bandwidth for the company’s HR-related tasks.

Delivered via the Benefitfocus Software as a Service model, Morganite went live with the applications in the fall of 2009. During Open Enrollment, the system prompted employees to update and validate the eligibility of their dependents. This enabled Morganite to audit the eligibility of every person covered under its plans and discontinue coverage for those who did not meet requirements.

Nucleus Research found that Morganite achieved significant costs savings through the use of online tools to verify the eligibility of employees’ dependents. Additional benefits included the improved productivity of employees and HR administrators who now spend less time on operational tasks related to insurance coverage.

  Additional savings that surfaced during this assessment included:

• Morganite employees spent 75 percent less time on benefits-related inquiries and took care of them on their own time rather than at work.
• Employees required less assistance from HR administrators. The results showed that HR administrator productivity increased by 20 percent.
• Through the dependent eligibility audit, more than 100 people who had been receiving benefits were found to be ineligible for coverage and dropped from the plan.

The Nucleus study found that Morganite’s average annual benefit from implementing Benefitfocus solutions was $438,418. Nucleus described additional key benefit areas, as well as best practices that were uncovered during the third-party assessment. Request a copy of the Morganite ROI assessment.

About Morganite Industries

Benefitfocus is the largest healthcare and voluntary benefits software provider in the U.S. with 11,096,392 consumers, 329,089 employers, 59,171 brokers and 2,984 carrier representatives live on the Benefitfocus Platform(TM). Benefitfocus offers a single Web-based platform for benefit shopping, enrollment, management and industry-standard data exchange. Benefitfocus – All Your Benefits. One Place. www.benefitfocus.com