bswift was founded as a consumer-driven health plan in 1996 and re-launched as a full-time benefits administration company in January, 2000. The original web enrollment system was developed in 1999 as a support platform for a web-enabled health plan, Platinum Health Care. However, when the health plan was introduced to brokerage firms, TPAs and employers in the Chicago marketplace, it was the enrollment technology—not the plan—that garnered the most interest. That same year bswift’s enrollment system placed 2nd out of 15,000 entrants in a national Microsoft Best E-Commerce Solution competition. With a favorable market response and recognition from Microsoft, bswift decided to focus exclusively on its online benefits enrollment and administration business.
In November 2014, bswift became a wholly owned subsidiary of Aetna. It was announced in November 2018 that CVS Health Corporation (CVS) had completed its acquisition of Aetna. Aetna and each of its subsidiaries, including bswift, became subsidiaries of CVS Health. In November 2022, bswift was acquired by private equity funds managed by Francisco Partners. Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses.
Claimed
