About Amplify HR Management
Sourced by ZipRecruiter
Industry
Human resources consulting services
Company size
11 - 50 Employees
Headquarters location
Lincolnshire, IL, US
$60K - $90K/yr
Full-time
Medical
Posted 8 days ago
Job description
Job Title: Group Health Benefits Analyst
Salary Range: $60k to $90k (DOE)
Location: Hybrid (Northbrook, IL), 3 days a week onsite
Full-time (non-exempt)
Overview:
The Group Health Benefits Analyst is responsible for evaluating group insurance renewals, submitting employee census data to multiple carriers for quotes, and conducting comprehensive plan comparisons for clients. This role is integral to supporting a Professional Employer Organization (PEO) by ensuring competitive, cost-effective benefits solutions that meet client needs. The analyst provides expert consultation to employers, guiding them through the renewal process and helping them make informed decisions.
Key Responsibilities:
- Collect and submit employee census data to multiple insurance carriers to obtain competitive quotes.
- Analyze group health insurance renewals, assessing premium adjustments, plan changes, and market trends.
- Develop detailed group health plan comparisons, highlighting differences in costs, coverage, networks, and compliance considerations.
- Consult with internal teams on renewal options, cost-containment strategies, and plan enhancements.
- Work closely with insurance carriers, brokers, GAs, and internal teams to negotiate the best benefits packages for PEO clients.
- Ensure compliance with ERISA, ACA, COBRA, Medicare Secondary Payor, HIPAA, and other relevant benefits regulations.
- Monitor industry trends, legislative updates, and competitive benchmarking to provide strategic recommendations.
Required Skills & Qualifications:
- 3 or more years of group health renewal experience with a broker.
- Bachelors degree in Business, Finance, Human Resources, or a related field (or equivalent experience).
- Experience in employee benefits analysis, group insurance underwriting, or broker services.
- Illinois Health Insurance License required. Additional state licenses helpful.
- Strong analytical and financial skills to interpret insurance data and plan pricing.
- Proficiency in Microsoft Excel and HRIS/benefits administration platforms.
- Knowledge of health insurance regulations, carrier policies, and PEO-specific benefits structures.
This role is essential for maintaining a PEOs competitive benefits offerings and ensuring client satisfaction through data-driven consulting.
amplifyhrm.com
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Frequently asked questions
Q: What skills or qualities help someone succeed as a Benefits Analyst?
A: To succeed as a Benefits Analyst, key technical skills include proficiency in benefits administration software, knowledge of employee benefits laws and regulations, and strong analytical and data interpretation skills. Soft skills such as excellent communication, problem-solving, and negotiation abilities are also crucial, as Benefits Analysts must effectively collaborate with stakeholders, interpret complex data, and make informed recommendations. These strengths enable Benefits Analysts to provide strategic guidance, optimize benefits programs, and drive business outcomes, ultimately supporting career growth and effectiveness in the role.
Q: What is the career path for a Benefits Analyst?
A: A Benefits Analyst's typical career progression involves starting as an Entry-Level Benefits Coordinator, where they assist in administering employee benefits programs, followed by a mid-level role as a Benefits Analyst, where they analyze data to optimize benefits offerings and costs. As they gain experience, they can move into senior roles such as a Senior Benefits Analyst or a Benefits Manager, overseeing the development and implementation of comprehensive benefits strategies. Throughout their career, Benefits Analysts can develop skills in data analysis, communication, and project management, which can lead to opportunities in HR leadership, consulting, or specialized roles like Compensation Analyst or Employee Engagement Specialist.
