Senior Employee Benefits Analyst – Self-Funded Modeling

USI Insurance Services; Des Peres (MO); On-site; USD 85,000 - 110,000; Full time

Benefits offered by this job

Medical

Wellness

Dental and Vision

401(k)

Paid time off

Job summary

USI Insurance Services in Des Peres, MO is seeking an Employee Benefits Analyst IV to independently analyze information and create financial deliverables for large clients with complex, self-funded benefit programs.

The role focuses on financial analytics for self-funded plans, including market reviews, renewal projections, claims utilization, rate analysis, benchmarking, and cost-reduction opportunities. Mentoring junior analysts and preparing executive summaries are also key aspects.

Qualifications

• 5+ years experience of employee benefits brokerage experience required.
• High School Graduate. College degree preferred.
• Must hold or be willing to obtain a state Life & Disability insurance license.
• Ability to work independently in a fast-paced, team environment.
• Detail-oriented with strong organizational skills.
• Ability to manage and negotiate multiple priorities and deadlines.
• Strong written, verbal, and interpersonal communication skills.
• Strong functional knowledge of Microsoft Office products, including Excel and Word.
• Advanced problem solving and critical thinking skills.
• Ability to carry out complex tasks with many concrete and abstract variables.

Responsibilities

• Responsible for financial analytics for clients that are self-funded. Typical client size is larger than 1,000 lives.
• Prepare analyses often with customization. Analyses may include: 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, Multi-year technical claims review with utilization metrics, gap in care, cost modeling, and benchmarking.
• Develop alternative strategies, plan modeling, and cost reduction opportunities. Includes developing custom illustrations to present financial metrics according to client preferences.
• 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. Includes requesting quotes and evaluating options., negotiating rates and benefit features, and 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. Includes identifying trends and relationship of experience to renewal rating. Suggest renewal activities based on findings from experience data.
• Provide guidance and support to analysts on financial and utilization data analysis.
• Independently write client facing Executive Summaries that provide observations, conclusions, recommendations, and next steps. Articulate USI strategic objectives.
• Prepare carrier and client written correspondence. Includes carrier renewal confirmation letters and client renewal letters.
• Regularly conduct analysis using USI internal and third-party external tools. Includes USI 3D, USI Clear Options Rx, and actuarial tools.
• Collaborate with service team members to ensure deliverables are in line with clients’ strategic objectives. Make recommendations for client actions based on analysis of customer data.
• Act as a resource for sales executives in developing strategic plans and solutions for clients and prospects.
• Occasional participation at client meetings to review financial deliverables required.
• Assist with team development as directed by Team Lead. Includes developing and delivering team training, onboarding new team members, mentoring analysts, and participating in interviews.
• Assist with the development of team standards and processes.
• Serve as escalation point and resource for the team.
• Participate in the peer review process, primarily as a reviewer for Level I, II, and III analysts. Mentor analysts via their reviewed work and provide strategic feedback.
• Keep current on industry and new product information, legislation, technology, and trends.

Skills

Excel

Word

Microsoft Office

Education

High School Diploma

Job description

USI Insurance Services in Des Peres, MO is seeking an Employee Benefits Analyst IV to independently analyze information and create financial deliverables for large clients with complex, self-funded benefit programs.

The role focuses on financial analytics for self-funded plans, including market reviews, renewal projections, claims utilization, rate analysis, benchmarking, and cost-reduction opportunities. Mentoring junior analysts and preparing executive summaries are also key aspects.