Associate Pharmacy Benefit Consultant

About the role

Rael & Letson is an independent employee benefits consulting and actuarial services firm. We serve as a trusted advisor to multiemployer and other retirement and health plans, helping bring high quality benefits to working people. We partner with our clients to design, implement, evaluate and communicate innovative and cost-effective benefit programs customized to their unique needs.

Responsibilities

• Provides pharmacy benefit oversight and Pharmacy Benefit Management (PBM) industry expertise, including plan design, PBM procurement, claims and pricing audits, contractual review, rebate auditing, and guidance on pharmacy matters such as formulary structure and new drugs to market.
• Communicates and resolves pharmacy issues for clients, often in coordination with the Health & Welfare Consultant to the client.
• Supports pharmacy benefit consulting activities, including preparing, conducting, and analyzing PBM RFPs, performing audits of pharmacy benefit management contracts and pharmacy benefits using PBM claims data, participating in and supporting clients’ financial recovery efforts, reviewing PBM pricing, rebates, performance guarantees, plan design, claim eligibility, and other features impacting plan and participant costs, and advising clients and colleagues on pharmacy matters, emerging market developments, formulary structure, and new drugs to market.
• Supports PBM contract strategy and client issue resolution, including clearly defining ambiguous contract terms to help achieve more competitive market terms and rates, negotiating favorable and transparent contract terms with PBMs, reviewing contract terms for compliance with plan requirements and client expectations, communicating complex pharmacy benefit issues clearly and resolving client questions in collaboration with the Health & Welfare consulting team, building productive relationships with PBMs, vendors, clients, and internal colleagues.
• Contributes to professional and firm development, including providing guidance and mentorship to colleagues, participating in training and professional development to further pharmacy benefit and PBM expertise, contributing to Health & Welfare Practice and firm initiatives as needed, and supporting special projects or assignments related to pharmacy benefits and PBM consulting.

Necessary Skills and Attributes

• Strong PBM industry knowledge, including pharmacy benefit oversight, plan design, PBM procurement, claim auditing, pricing audits, rebate auditing, and contractual review.
• Ability to advise clients on pharmacy matters, including formulary structure and new drugs to market.
• Entrepreneurial team player who can multitask and work independently.
• Engaged, flexible, collaborative, and proactive, with the ability to positively impact strategic and tactical initiatives.
• Excellent communication, judgment, creative problem-solving, negotiation, and conflict resolution skills.
• Ability to operate as an effective tactical and strategic thinker.
• Ability to work in a fast-paced environment, manage multiple priorities, and maintain a high level of accuracy and productivity.
• Strong written, verbal, interpersonal, and presentation skills.
• Computer / software skills: Strong proficiency with general Office software such as Word, Excel, PowerPoint, Outlook, SharePoint, Teams.

Preferred Education and Experience

• Work Experience: Minimum of 5 years of experience in Pharmacy Benefit Management as an Account Executive, Account Manager, or Clinical support, including auditing PBM contracts and pharmacy benefits.
• Education: Business, Science, Communication, or Math degree.

Location and Travel

This Pharmacy Benefit Consultant position may be based in Seattle, Washington or Southern California, with flexibility to work remotely much of the time. Some travel is required, up to approximately 30%, including overnight travel to client meetings within the Western U.S.

Total Comp and Benefits

In addition to competitive base pay, this position is eligible for our annual bonus program. We are proud to offer excellent benefits including a 401k with a 5% company contribution, available medical, dental, vision, life and disability coverage, ESOP, generous time off, and more.