Benefits Analyst - Aaron's Inc
Atlanta, GA
About the Job
Summary:
Provides administration for benefit programs, reviews assigned programs for competitiveness and makes/implements changes as approved. Requires strong knowledge of self-insured benefit programs, ability to liaise and coordinate with vendors and provide consultative services to team members and management.
Duties and Responsibilities:
+ Conducts analysis of assigned benefit programs to research best practices, identify areas of improvement regarding utilization and cost effectiveness, evaluate external competitiveness and legal compliance utilizing market survey data, and recommend changes and/or additional benefit programs to leadership
+ Creates, runs and monitors analytical reports regarding trends, forecasting, budget management and profit and loss (P&L)
+ Maintains audit and compliance controls for benefit programs to eliminate/prevent financial risk and penalties to the organization and ensures compliance with all regulatory bodies
+ Keeps abreast of legislative/judicial rulings related to benefits to ensure compliance and identifies impact to organizational programs
+ Educates and provides information to team members, dependents, service providers and third-party administrators regarding plan guidelines and procedures
+ Serves as primary contact for plan vendors and third-party administrators
+ Coordinates transfer of data to external contacts for services, premiums and plan administration.
+ Liaisons with benefit plan vendors to address/resolve moderate scale vendor management issues, with input/guidance from leadership as needed
+ Provides project management in developing and executing project objectives for smaller scale projects, including plan communications and implementation strategies. Provides project management assistance on larger scale projects
+ Creates/updates all process documentation for benefit programs
+ Manages end-to-end billing processes for self-insured benefit plans, ensuring accuracy and compliance with regulatory compliance
+ Conducts regular audits and reconciliations of invoices to identify discrepancies and mitigate errors
+ Collaborates with internal teams and external vendors to resolve billing inquiries and discrepancies
+ Other duties as assigned by management
Preferred Education and Experience:
+ Four years benefits administration experience
+ Managing billing processes, reconciling invoices, and monitoring expenses for self-insured benefits plans
+ Vendor management liaising with third-part administrators, insurers, brokers, and other vendors
+ Familiarity with leave requirements and other legal protections afforded by the FMLA, ADA, and other applicable laws
+ Knowledge of relevant laws and regulations governing employee benefits, such as ERISA, HIPAA, ACA and IRS guidelines
Required Competencies:
+ Ability to maintain absolute confidentiality
+ Analytical thinking skills for large datasets to track and evaluate utilization patterns, cost trends, and performance metrics
+ Effective communication skills to interact with employees, management, and external stakeholders
+ Willingness to stay updated on industry trends, best practices, and regulatory changes affecting employee benefits
+ Adaptability and resourcefulness in navigating emerging challenges
+ Microsoft Office Suite proficiency, including MS Project and Visio, with advanced proficiency in Excel
+ Familiarity with Human Resources Information Systems (HRIS) and payroll systems to facilitate/administer benefit plans
The above statements are intended to describe the general nature and level of work performed by team members assigned to this classification. The statements are not intended to be an exhaustive list of all job duties performed by team members assigned to this classification.
Provides administration for benefit programs, reviews assigned programs for competitiveness and makes/implements changes as approved. Requires strong knowledge of self-insured benefit programs, ability to liaise and coordinate with vendors and provide consultative services to team members and management.
Duties and Responsibilities:
+ Conducts analysis of assigned benefit programs to research best practices, identify areas of improvement regarding utilization and cost effectiveness, evaluate external competitiveness and legal compliance utilizing market survey data, and recommend changes and/or additional benefit programs to leadership
+ Creates, runs and monitors analytical reports regarding trends, forecasting, budget management and profit and loss (P&L)
+ Maintains audit and compliance controls for benefit programs to eliminate/prevent financial risk and penalties to the organization and ensures compliance with all regulatory bodies
+ Keeps abreast of legislative/judicial rulings related to benefits to ensure compliance and identifies impact to organizational programs
+ Educates and provides information to team members, dependents, service providers and third-party administrators regarding plan guidelines and procedures
+ Serves as primary contact for plan vendors and third-party administrators
+ Coordinates transfer of data to external contacts for services, premiums and plan administration.
+ Liaisons with benefit plan vendors to address/resolve moderate scale vendor management issues, with input/guidance from leadership as needed
+ Provides project management in developing and executing project objectives for smaller scale projects, including plan communications and implementation strategies. Provides project management assistance on larger scale projects
+ Creates/updates all process documentation for benefit programs
+ Manages end-to-end billing processes for self-insured benefit plans, ensuring accuracy and compliance with regulatory compliance
+ Conducts regular audits and reconciliations of invoices to identify discrepancies and mitigate errors
+ Collaborates with internal teams and external vendors to resolve billing inquiries and discrepancies
+ Other duties as assigned by management
Preferred Education and Experience:
+ Four years benefits administration experience
+ Managing billing processes, reconciling invoices, and monitoring expenses for self-insured benefits plans
+ Vendor management liaising with third-part administrators, insurers, brokers, and other vendors
+ Familiarity with leave requirements and other legal protections afforded by the FMLA, ADA, and other applicable laws
+ Knowledge of relevant laws and regulations governing employee benefits, such as ERISA, HIPAA, ACA and IRS guidelines
Required Competencies:
+ Ability to maintain absolute confidentiality
+ Analytical thinking skills for large datasets to track and evaluate utilization patterns, cost trends, and performance metrics
+ Effective communication skills to interact with employees, management, and external stakeholders
+ Willingness to stay updated on industry trends, best practices, and regulatory changes affecting employee benefits
+ Adaptability and resourcefulness in navigating emerging challenges
+ Microsoft Office Suite proficiency, including MS Project and Visio, with advanced proficiency in Excel
+ Familiarity with Human Resources Information Systems (HRIS) and payroll systems to facilitate/administer benefit plans
The above statements are intended to describe the general nature and level of work performed by team members assigned to this classification. The statements are not intended to be an exhaustive list of all job duties performed by team members assigned to this classification.
Source : Aaron's Inc