Continued Enrollment Growth Seen During 2015 FEDVIP Open Season
Portsmouth, NH: LTC Partners (LTCP) today announced it saw continued enrollment growth during the 2015 Federal Benefits Open Season for the Federal Employees Dental and Vision Insurance Program (FEDVIP).
The 2015 open season, which ran for five weeks and ended on December 14, 2015, marked the 10th consecutive open season LTC Partners has administered FEDVIP enrollment and customer support activities through BENEFEDS, an online platform and accompanying customer care and payroll service the company runs that allows federal employees and annuitants to shop for, enroll in, and manage several of their voluntary benefits.
"This year's open season marked the third since the U.S. Office of Personnel Management (OPM) expanded the FEDVIP to a field of 14 insurance carriers. We can now say with confidence that this expansion has proven successful not only for the overall growth of the program, but also for inducing increased competition among plans, which has resulted in added value for our enrollees," said Brian Frankenfield, BENEFEDS Program Manager. "From an administrative perspective, this expansion has meant a significant increase in transaction-processing. Through diligent planning and execution, our platform, service-delivery teams, and partners have seamlessly handled this growth while continuing to deliver on customer experience. This is clearly demonstrated through the results of this past open season."
An innovative use of technology and automation lies behind LTC Partners' ability to handle mass transaction volumes while maintaining high levels of customer satisfaction. The company's sophisticated interactive voice response (IVR) and virtual call center (VCC) platforms provide 24/7 self-service opportunities by phone in addition to the organization's existing online offering.
LTC Partners piloted a virtual benefits fair on November 18, 2015, which showcased information about BENEFEDS, FEDVIP, the Federal Employees Health Benefits (FEHB) Program, the Federal Long Term Care Insurance Program (FLTCIP), and the Federal Flexible Spending Account Program (FSAFEDS). This technology enabled employees to easily find plan information, helpful coverage links, and, in some cases, program representatives who were available to chat online.
BENEFEDS also utilizes virtual events to broaden educational awareness across geographically dispersed U.S. agencies. These advanced-planning webinars explore topics related to enrolling in FEDVIP, review the most commonly asked questions during open season, and share the information employees need to manage their own federal benefits package. Webinars provide a cost-effective way to reach a large number of employees at once, as well as provide a resource for ABOs to help support training initiatives. Employees can watch the webinars live (with Q & A), or they can view on-demand events at their convenience.
The company has administered FEDVIP enrollment for OPM, the plan's sponsor, since BENEFEDS launched in 2006.
Built and managed by LTC Partners under the oversight of the U.S. Office of Personnel Management (OPM), BENEFEDS is the centralized online portal and contact center through which federal employees and annuitants enroll in and manage their voluntary benefits coverage and receive educational, billing, and customer service support. Through BENEFEDS, LTC Partners administers specific aspects of several benefit programs for the federal government, including the Federal Employees Dental and Vision Insurance Program (FEDVIP), the Federal Flexible Spending Account Program, and the Federal Long Term Care Insurance Program. For more information, visit www.BENEFEDS.com .
About LTC Partners
LTC Partners® (Long Term Care Partners, LLC®, or LTCP®), a diversified third-party administrator of large-scale insurance and benefits programs, was founded in 2002. LTC Partners administers both the Federal Long Term Care Insurance Program and BENEFEDS under the oversight of the U.S. Office of Personnel Management (OPM). The company is located at Pease International Tradeport in Portsmouth, NH. LTC Partners is a wholly owned subsidiary of John Hancock Life & Health Insurance Company.