ACORD Sets Benefits Enrollment Standard

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.

(Related: ACORD Seeks to Transform Its Vision of Data Standards) 

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.