Senior Benefit Analyst
Company: Lockton Companies
Location: Los Angeles
Posted on: October 27, 2024
Job Description:
At Lockton, we're passionate about helping our people achieve
their ultimate potential. Our people are curious, action-oriented
and always striving to make ourselves and those around us better.
We're active listeners working to ensure understanding and problem
solvers developing innovative solutions. If you can see yourself
delivering excellent service to clients, giving back to our
communities and being a part of our caring culture, you belong
here.Business unitWest Series$78,750-$105,000ScheduleFull-timeJob
typeExperienced ProfessionalWorkplaceHybridYour
ResponsibilitiesPOSITION OBJECTIVEIn collaboration with a client
service team, prepare and deliver comprehensive financial reports
for client health benefit plans. Analyze and leverage data to help
clients manage health benefit plans with optimal financial
efficiency.ESSENTIAL DUTIES
- Prepare routine financial reports for self-funded clients;
review financial reports with clients.
- Calculate loss projections, calculate and negotiate renewals,
and set funding rates for self-funded clients.
- Develop or use industry formulas to create basic and complex
models to analyze, illustrate, or project loss trends; complete
feasibility studies, financial models, and pricing models; evaluate
benefits utilization and claims data to assist clients in
developing cost management and health risk management
strategies.
- Prepare spreadsheets, graphs, charts, diagrams, and other
illustrative tools for presentations and reports.
- Use financial modeler and other tools to predict financial
impact of health reform on client plans.
- Calculate IBNR reserve estimates for self-funded clients.
- Participate with other department associates in program
presentations to clients and prospects.
- Understand and evaluate retiree medical and Medicare Part D
liabilities.
- Assist client team as required in evaluating stop loss RFP
responses; negotiate contract terms and pricing with selected
vendors.
- Analyze and interpret client data warehouse information;
identify cost or case management opportunities, and present
recommendations to clients.
- Prepare custom reports and analysis for specific client
needs.
- Maintain benchmarking data and leverage use of benchmarks
across clients.
- Serve as a Subject Matter Expert on underwriting and financial
reporting, as well as stop loss contracts and vendors.
- Leverage internal systems knowledge and utilization within the
department and among clients.
- Create new financial reporting templates; update computer
databases to improve standard models used in analysis.
- Calculate the allocation of insurance program costs to clients'
individual operating units.
- Participate in the negotiation of insurance program terms and
costs.
- Keep informed of insurance industry developments and products
available in the marketplace.
- Make a
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Keywords: Lockton Companies, Pico Rivera , Senior Benefit Analyst, Professions , Los Angeles, California
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