THE MURPHIUS GROUP Opportunities

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Benefit Analyst (Hybrid to fully remote available) – Grand Rapids, MI

JOB DUTIES:

  • Track all renewals, schedule potential marketing activity, and coordinate with Account Manager and Producer
  • Prepare analyses in accordance with client service calendar financial meetings (e.g., post renewal, mid-year review, pre-renewal, renewal). Analyses may include but are not limited to:
    • Market review analysis
    • Renewal rate and funding projections and modeling
    • Analysis of claims utilization
    • Rate and contribution analysis
    • Benchmarking
    • Financial funding analysis (e.g., fully insured vs self-funded)
    • IBNR and claims lag analysis
  • Review and interpret data to develop alternative strategies, plan modeling and cost reduction opportunities.
  • Technical analysis of group insurance contracts and financial arrangements.
  • Request applicable claims reports.
  • Consult with Account Manager and Producer on a quoting or negotiation strategy.  If quoting is appropriate – contribute to decisions on benefit designs and which carriers to quote.
  • Agree on a timeline with Account Manager and Producer for everything involving the marketing process and monitor closely.  Maintain constant communication with the Account Manager and Producer regarding progress and keep them informed if the process is off track.
  • Prepare a census template and a complete list of other information needed from client for the quoting process.
  • The assigned Account Manager or Account Coordinator is responsible to collect all of the information needed to complete quote requests, but the Benefit Analyst is responsible to recast or reformat the information to accommodate carrier requirements.
  • Assemble and distribute RFQ to carriers.
  • Negotiate with incumbent and other carriers to achieve maximum value for client.
  • Review renewal offers and quotes with Producer, agree what will be shown to client and prepare presentation.
  • Responsible for the financial analytics for clients that are over 100 lives, as well as those that are self-funded and level funded.
  • Act as a resource for Producer to develop strategic plans and solutions for clients and prospects.
  • Have occasional client facing contact pertaining to financial deliverables. May attend client meetings and present reports.
  • Develop and maintain good working relationships with our core carrier partners.

Desired:

  • High school graduate or GED.
  • Must hold state insurance license or be willing to obtain one within 6-months of hire
  • Ability to work in a fast paced environment independently and with a high degree of accuracy and attention to detail
  • Strong written, oral and interpersonal communication skills
  • 2+ years of experience

Preferred:

  • College degree in mathematics or financial-related field, or related business experience preferred.
  • 2+ years of experience in health care analytics with an insurer or broker
  • 2+ years of experience with self-funded medical plans

WHAT WE OFFER:

  • Excellent growth and advancement opportunities
  • Competitive pay based on experience
  • Paid Time Off
  • Generous benefits package: health, dental, vision, 401(k), etc.
  • Employee Stock Purchase Plan
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