Benefitfocus Announces Pricing of Secondary Offering

Benefitfocus Announces Pricing of Secondary Offering

CHARLESTON, S.C., July 16, 2014 (GLOBE NEWSWIRE) -- Benefitfocus, Inc.
(Nasdaq:BNFT), a leading provider of cloud-based benefits software solutions,
today announced the pricing of its secondary offering of 2,500,000 shares of
its common stock at a price of $38.50 per share. All of the shares are being
sold by certain funds affiliated with Goldman Sachs that have been
stockholders of the Company since 2007. In addition, the selling stockholders
have granted the underwriters a 30-day option to purchase up to 375,000
additional shares of common stock at the same price. Benefitfocus will not
receive any proceeds from the sale of the shares.

Goldman, Sachs & Co., Deutsche Bank Securities Inc. and Jefferies LLC are
acting as the book-running managers for the offering. Canaccord Genuity Inc.,
Piper Jaffray & Co. and Raymond James & Associates, Inc. are acting as
co-managers.

A registration statement relating to these securities has been filed with, and
declared effective by, the Securities and Exchange Commission. This press
release shall not constitute an offer to sell or the solicitation of an offer
to buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state
or jurisdiction. The registration statement Benefitfocus has filed with the
SEC can be obtained by visiting EDGAR on the SEC website at www.sec.gov.

The offering will be made only by means of a prospectus, copies of which may
be obtained, when available, from Goldman, Sachs & Co., Attn: Prospectus
Department, 200 West Street, New York, NY 10282, telephone: 866-471-2526,
email: prospectus-ny@ny.email.gs.com, Deutsche Bank Securities Inc., Attn:
Prospectus Group, 60 Wall Street, New York, NY 10005, telephone: 800-503-4611,
email: prospectus.CPDG@db.com or Jefferies LLC, Attn: Equity Syndicate
Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022,
telephone: 877-547-6340, email: Prospectus_Department@Jefferies.com.

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 23 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: risks regarding whether we can complete the
offering, and regarding its impact on the trading price of our common stock;
potential volatility; risks associated with our business; and the other risk
factors set forth from time to time in our Form S-1 and other SEC filings,
copies of which are available free of charge on our website at
www.benefitfocus.com or upon request from our public relations department.
Benefitfocus assumes no obligation and does not intend to update these
forward-looking statements, except as required by law.

CONTACT: Benefitfocus, Inc.
         843-284-1052 ext. 6846
         pr@benefitfocus.com
        
         Investor Relations:
         ICR for Benefitfocus, Inc.
         Brian Denyeau
         646-277-1251
         brian.denyeau@icrinc.com
 
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