Benefitfocus Appoints Rosetta Stone CEO Steve Swad to its Board of Directors

 Benefitfocus Appoints Rosetta Stone CEO Steve Swad to its Board of Directors

PR Newswire

CHARLESTON, S.C., Dec. 16, 2013

CHARLESTON, S.C., Dec. 16, 2013 /PRNewswire/ -- Benefitfocus, Inc. (NASDAQ:
BNFT), a leading provider of cloud-based benefits software solutions, today
announced the appointment of independent director Stephen M. Swad to its Board
of Directors.

(Logo: http://photos.prnewswire.com/prnh/20110602/CL12553LOGO )

Mr. Swad brings to the Benefitfocus Board over 25 years of experience as a
business leader in both consumer and B2B settings. He is currently the
President and Chief Executive Officer of Rosetta Stone Inc. (NYSE: RST), whose
innovative, technology-driven language and literacy solutions are used by
millions of individuals and thousands of schools, businesses and government
organizations around the world. A Rosetta Stone director since 2012, Mr. Swad
was previously the company's Chief Financial Officer. With expertise in the
areas of technology, education, media, corporate finance and accounting, he
was named one of 2013's Top 100 CEO Leaders in science, technology,
engineering and math by STEMConnector.

Prior to joining Rosetta Stone, Mr. Swad served as Executive Vice President
and Chief Financial Officer of Comverse Technology, Inc. and Executive Vice
President and Chief Financial Officer of the Federal National Mortgage
Association (Fannie Mae). Previously, he held various senior-level financial
management positions at AOL, Time Warner and its subsidiaries. A former
partner at KPMG LLP, Mr. Swad has also served as a Deputy Chief Accountant at
the U.S. Securities and Exchange Commission. He holds a B.A. in Business
Administration from the University of Michigan and is a Certified Public
Accountant.

"We are excited to welcome Steve to the Benefitfocus Board," said Mason
Holland, Executive Chairman of the Board. "We look forward to his
contributions as Benefitfocus continues to innovate within its industry and
grow as a public company."

Mr. Swad's appointment to the Board increases the number of Benefitfocus
directors to seven. Mr. Swad will chair the Benefitfocus Board's Compensation
Committee and serve as a member of its Audit Committee.

About Benefitfocus

Benefitfocus (NASDAQ: BNFT), is a leading provider of cloud-based benefits
software solutions for consumers, employers, insurance carriers and brokers.
Benefitfocus serves more than 20 million consumers on its platform that
consists of an integrated portfolio of products and services enabling clients
to more efficiently shop, enroll, manage and exchange benefits information.
With a user-friendly interface and consumer-centric design, the Benefitfocus
Platform provides one place for consumers to access all their benefits.
Benefitfocus solutions support the administration of all types of benefits,
including core medical, dental, and other voluntary benefits plans as well as
wellness programs. For more information, visit www.benefitfocus.com.

Safe Harbor Statement

Except for historical information, all of the statements, expectations, and
assumptions contained in this press release are forward-looking statements.
Actual results might differ materially from those explicit or implicit in the
forward-looking statements. Important factors that could cause actual results
to differ materially include: the fact that the Company has only been publicly
traded since September 2013; the immature and volatile market for our products
and services; the need to innovate and provide useful products and services;
risks related to changing healthcare and other applicable regulations; our
ability to compete effectively; our ability to maintain our culture and
recruit and retain qualified personnel; privacy, security and other risks
associated with our business; and the other risk factors set forth from time
to time in our SEC filings, copies of which are available free of charge
within the Investor Relations section of the Benefitfocus website at
http://investor.benefitfocus.com/sec.cfm or upon request from our Investor
Relations Department. Benefitfocus assumes no obligation and does not intend
to update these forward-looking statements, except as required by law.

Benefitfocus, Inc.
843-284-1052 ext. 6907
pr@benefitfocus.com

Investor Relations:
ICR for Benefitfocus, Inc.
Brian Denyeau
646-277-1251
brian.denyeau@icrinc.com

SOURCE Benefitfocus

Website: http://www.benefitfocus.com
 
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