Employee Benefit Analyst III

About the role

Responsible for analyzing information and creating financial deliverables for clients with standard to complex benefit programs, including fully insured and self-funded clients. Typical client size ranges from 100 to 1,000 lives.

Responsibilities

• Prepare standard financial analyses with occasional customization, including:
  • Market review analysis
  • Renewal rate and funding projections and modeling
  • Analysis of claims utilization
  • Rate and contribution analysis
  • Claims experience reports
  • Benchmarking
  • Financial funding analysis
  • IBNR and lag analyses
• Develop alternative strategies, plan modeling, and cost reduction opportunities.
• Perform technical analysis of group insurance contracts and financial arrangements.
• Serve as primary contact with insurance carriers. Negotiate and market coverage for new business quotes and renewals, including:
  • Requesting quotes
  • Evaluating options
  • Negotiating rates and benefit features
  • Preparing renewal/new plan options with executive summary
• Develop and maintain excellent carrier relationships.
• Review and validate carrier renewal rating illustration.
• Analyze experience and claims utilization data for financial and plan usage conclusions, including identifying trends and the relationship of experience to renewal rating. With guidance, suggest action items.
• Write client-facing Executive Summaries that provide observations, conclusions, recommendations, and next steps. With guidance, articulate USI strategic objectives.
• Prepare carrier and client written correspondence, including carrier renewal confirmation letters and client renewal letters.
• Occasionally conduct analysis using USI internal and third-party external tools, such as USI 3D, USI Clear Options Rx, and actuarial tools.
• Participate in the peer review process as both a participant and a reviewer.
• Occasionally participate in new Analyst onboarding training.
• Keep current on industry and new product information, legislation, technology, and trends.

Requirements

• 3+ years of experience in employee benefits or a related field.
• High school graduate; college degree preferred.
• Must hold or be willing to obtain a state Life & Disability insurance license.
• Ability to work in a fast-paced, team environment with minimal instruction.
• Ability to manage and negotiate multiple priorities and deadlines.
• Strong written, verbal, and interpersonal communication skills.
• Working knowledge of Microsoft Office products, including Excel and Word.
• Ability to become proficient in internal analytic systems and carrier online reporting tools.
• Strong problem-solving and critical-thinking skills.
• Ability to carry out complex tasks with many concrete and abstract variables.

Benefits

• Competitive health, welfare, and financial benefits, including:
  • Medical, dental, and vision coverage
  • 401(k) retirement plan
  • Flexible spending and health savings accounts
  • Short- and long-term disability insurance
  • Life insurance
  • Unique employer-sponsored and voluntary programs
• Generous paid time off policy, paid family leave, and paid holiday time.
• Employee programs recognizing outstanding achievement, including:
  • Summit Awards for excellence in building the USI brand
  • Award-winning wellness program
  • College scholarships for associates' children
  • Financial assistance in times of need
• I’m With U diversity and inclusion program, including:
  • Curated education and training resources
  • Employee support programs
  • Community outreach initiatives
• Deep community engagement and environmental sustainability initiatives.

Pay

$70,000 - $80,000