SOURCE: bswift

bswift

SOURCE: Retrofit

Retrofit

August 26, 2014 14:30 ET

bswift Partners With Retrofit to Offer Outcomes-Based Wellness Program for Employers to Lower Health Care Costs

CHICAGO, IL--(Marketwired - August 26, 2014) - bswift, a leader in cloud-based technology and services for employee benefits and health exchanges, and Retrofit, a virtual weight loss program, announced today they are partnering to provide a corporate weight loss program on the bswift Springboard Marketplace, a private health and benefits exchange.

"The corporate market has been asking for a viable, effective and sustainable weight loss solution," said Retrofit CEO Jeff Hyman. "Employers are familiar with workplace weight loss programs but have not seen consistency with outcomes or reporting. Retrofit is thrilled to work with bswift to offer consumers a proven solution that can help solve America's obesity epidemic," noted Hyman.

"Retrofit will add a high-quality, tech-savvy weight loss benefit for employees as a personalized coverage option on our private exchange platform Springboard Marketplace," said Brad Wolfsen, Senior Vice President, bswift. "We look at Retrofit as a leader in delivering effective, personalized weight loss solutions."

Through both private online coaching and group lessons, Retrofit teaches employees how to make sustainable lifestyle changes with the support of technology and innovative online coaching from weight loss advisors. "The partnership with bswift brings Retrofit online weight loss coaching to a broader audience through its consumer marketplace," said Hyman. "Research shows that people lose more weight when supported by employers, colleagues, family and friends; bswift understands the benefit of flexibility, customization and online small group support."

Wolfsen noted that, "Over the past three years employers have expanded their physical fitness and weight loss offerings to encourage employees' healthy behaviors, as shown in the recently released study from bswift and Employee Benefit News. We thought it made sense to make it easier for employers to administer these offerings."

According to the American Heart Association, the total excess costs related to obesity in the U.S. for 2013 were estimated to be $254 billion in lost productivity and direct medical costs. Also, if obesity levels continue to rise, total health care costs attributable to obesity will reach between $861 billion and $957 billion by 2030. Overweight or obese employees cost an employer almost $1,500 a year in additional health care costs. "As CFOs and HR leadership focus in on wellness program ROI," noted Wolfsen, "employee accountability and outcomes-based approaches that effectively address obesity will become more commonplace."

In January, CEO Jeff Hyman appeared on Bloomberg Television to discuss how 2014 is the "year of participation" for corporate weight loss. Retrofit Group℠, the first weight loss program offering online group meetings conducted by wellness experts, launched to meet the market's needs. By being part of the Springboard Marketplace platform, Retrofit can deliver results to a wider audience.

For more information on Springboard Marketplace, visit www.bswift.com/springboard or contact bswift at info@bswift.com.

About bswift
Based in Chicago, bswift offers software and services that streamline benefits, HR and payroll administration for employers and exchanges nationwide. bswift's state-of-the-art cloud-based technology, outsourcing solutions and Springboard Marketplace exchange platform significantly reduce administrative costs and time-consuming paperwork, making life easier for administrators and millions of consumers who enroll in benefits with bswift. For more information, visit www.bswift.com and read the bswift blog at www.bswift.com/blog.

About Retrofit
Retrofit, the expert-led, data-driven weight loss program for busy professionals, is designed to deliver lasting results. Its innovative program for both individuals and corporations includes wireless monitoring of a client's weight, activity and sleep, as well as access to wellness coaches, consisting of registered dietitians, exercise physiologists and behavior coaches. Retrofit has raised $15.7 million in venture financing, led by Draper Fisher Jurvetson (DFJ). Cambia Health Solutions also participated. Retrofit can be found on the Web at RetrofitMe.com and by calling 855-4-RETROFIT. Follow the company on Facebook and Twitter at @retrofitme.

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