ACORD says it’s taking another step forward toward promoting a new employee benefits enrollment standard.
The Pearl River, New York-based industry group sayts it has formally launched a new ACORD Member Enrollment Standard for employee benefits transactions. The group based the standard on an enrollment framework, and enrollment transaction specifications, it received from Benefitfocus Inc. in January.
Benefitfocus is a Charleston, South Carolina-based company that develops digital systems for selling and administering benefits products. Ten insurers used the company’s iMax standard to process about 4 million benefit plan enrollment transactions in 2016, according to ACORD.