Group Benefits Plan Analyst

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Basic Job Info

 
Location
US-MI-Troy
 
Job Type
 
Begin Date
1/15/2018
 
End Date
2/14/2018
 
Base Pay
N/A
 
Employment Type
Full-Time
 
Manages Others
False
 
Relocation Covered
False

Job Description

Marsh & McLennan Agency located in in Troy, Michigan serves the group benefit needs of organizations that employ between 100 and 10,000 workers. We provide innovative and individually tailored cost reduction strategies and tactics in all of the functional elements of group benefit plans.
We currently have an exciting career opportunity for a Plan Analyst in our Troy office. The Plan Analyst is responsible for obtaining and analyzing group benefit program proposals for both clients and prospects. The Plan Analyst analyzes bids for group health and welfare coverage for clients, provides benchmarking research and analysis, and develops detailed client reports. The Plan Analyst provides substantial financial analysis for their assigned clients. This position spends approximately 90% of their time in Excel.
ESSENTIAL FUNCTIONS
  1. Provides support in obtaining the most competitive insurance proposals in the marketplace, financial reporting and carrier / vendor evaluation.
  2. Drafts and submits requests for proposal (RFPs) for all health and welfare plans. Reviews RFP responses for reasonableness, accuracy and meeting client’s requirements.
  3. Negotiates with carriers on behalf of clients to ensure the best pricing available for renewals or new business offerings.
  4. Performs complex data analysis and complex financial analysis.
  5. Constructs detailed renewal reports, produces monthly and quarterly reports for budget tracking.
  6. Researches/reviews various benchmarking sources and uses this knowledge to determine the most beneficial source for a particular client.
  7. Gathers the most accurate data available and summarizes it in a usable, error-free format for the final presentation. The Plan Analyst is expected to develop a final work product that is clear, concise and accurate in a format that is easily read and understood.
  8. Answers client's questions both orally and in writing. Communicates effectively both internally and externally on matters related to client work product, work in progress, market information and other projects as assigned.
  9. Illustrates knowledge of carrier plans, with a primary focus on area-rated, fully-insured and self-funded medical and ancillary benefits. Attends carrier meetings to stay current on changing industry trends.
  10. Develops and maintains a solid understanding of Excel, Word, PowerPoint, Access (preferred) and other tools and methods provided by the company to effectively complete work product.
Qualifications
KNOWLEDGE, SKILLS & ABILITIES
  • Bachelor's degree in finance, mathematics or other related area preferred.
  • Minimum of 3-5 years’ experience in finance or in the healthcare benefits industry working for a group, insurance carrier, broker or general agency preferred.
  • Knowledge of group insurance (medical, dental, vision & life and disability products) preferred.
  • Must possess strong analytical and problem solving skills.
  • Excellent communication and writing skills.
  • Must be able to follow directions, be detailed, organized and resourceful.
  • Ability to work under extreme pressure (tight deadlines & juggling multiple projects simultaneously).
  • Proficient in MS Word, Excel, and PowerPoint. Experience with databases and writing queries is a plus.
Marsh & McLennan Agency LLC company firmly believes it is the character and commitment of our people that make a difference, and we are always seeking those with ethics, talent, and ambition interested in joining our client-focused teams. If you are a committed professional with a passion for delivering excellent service, we are interested in hearing from you.
Marsh & McLennan Agency offers competitive salaries and comprehensive benefits including: medical/Rx, dental, vision, flexible spending accounts, health savings accounts, life & AD&D, short-term and long-term disability benefits, 401k, employee stock purchase program and an employee assistance program.

Job Requirements

 
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