Lead Benefits Consultant, Healthcare and Pharmacy Innovation

About the role

The Lead Benefits Consultant, Healthcare and Pharmacy Innovation at Target is responsible for leading the development and execution of innovative healthcare strategies that improve quality, affordability, and team member experience across Target's health benefits portfolio. This role plays a critical role in shaping Target's healthcare strategy by balancing financial performance with innovative solutions that improve health outcomes and team member experience.

Responsibilities

• Execute healthcare innovation and trend management initiatives to optimize total cost of care, improve outcomes, and enhance the team member experience, with a focus on pharmacy and specialty drug strategies.
• Support healthcare and pharmacy strategy through analysis of benefit design, vendor performance, specialty programs, emerging care models, and evolving market solutions.
• Manage and optimize healthcare and pharmacy programs, ensuring alignment with financial, operational, and member experience objectives.
• Identify, evaluate, and pilot innovative healthcare and pharmacy solutions, establishing test-and-learn approaches and scaling successful initiatives.
• Develop business cases, financial models, and ROI analyses to assess the value and impact of proposed strategies.
• Partner in healthcare and pharmacy financial planning, forecasting, and trend management to improve predictability and financial performance.
• Support vendor selection, RFP processes, and contract negotiations in partnership with Procurement and Legal, ensuring strong financial and performance outcomes.
• Analyze healthcare and pharmacy claims data, utilization trends, and emerging risks to identify cost drivers and intervention opportunities.
• Support annual planning and renewal activities through financial analysis and assessment of member and business impacts.
• Monitor industry trends, regulatory changes, and competitive practices to inform strategy, innovation priorities, and benefit evolution.
• Develop performance metrics and reporting frameworks to measure program effectiveness, pilot outcomes, and vendor performance.
• Communicate complex healthcare and pharmacy concepts, insights, and recommendations to cross-functional stakeholders and senior leadership.

Requirements

• 6 - 10 years of work experience including 2 - 4 years of experience in employer-sponsored healthcare and pharmacy benefits.
• Direct employer-side experience with Pharmacy Benefit Manager (PBM) strategy and contract negotiation.
• Foundational financial acumen and experience building financial models and ROI analyses.
• Experience supporting healthcare and pharmacy pilots, innovation initiatives, or transformation efforts.
• Ability to analyze healthcare claims data and translate insights into actionable recommendations.
• Skilled at influencing cross-functional partners in a matrix environment.
• Strong written and verbal communication skills.

Qualifications

• General understanding of specialty drug management, rebate economics, and formulary strategy.
• Ability to influence cross-functional partners in a matrix environment.
• Strong written and verbal communication skills.

Benefits

• Comprehensive health benefits and programs, including medical, vision, dental, life insurance, and more.
• 401(k), employee discount, short term disability, long term disability, paid sick leave, paid national holidays, and paid vacation.
• Competitive benefits from financial and education to well-being and beyond.

Pay

The pay range is $95,000.00 - $171,000.00 Pay is based on several factors which vary based on position. These include labor markets and in some instances may include education, work experience and certifications.

Schedule

This position will operate as a Hybrid/Flex for Your Day work arrangement based on Target’s needs. A Hybrid/Flex for Your Day work arrangement means the team member’s core role will need to be performed both onsite at the Target HQ MN location the role is assigned to and virtually, depending upon what your role, team and tasks require for that day. Work duties cannot be performed outside of the country of the primary work location, unless otherwise prescribed by Target.