Proposal Coordinator
Salary: 80000 - 90000
Location: Rochester Hills, MI
Posted: October 10 2024
Minimum Degree:
Relocation Assistance: Not Available
POSITION:
Financial Analyst - Employee Benefits
Summary
The Financial and Healthcare Data Analyst is responsible for providing in depth analysis and reporting of healthcare plan design; Utilizing sophisticated software tools and platforms to aid in complex analysis, such as predictive analytics and population health forecasting; Strategic analysis of current and trending market changes; Analyzing claim utilization and changes in the market as well as within client groups; Merging benefit plan data into meaningful reporting dashboards; and Providing illustrations of various funding and alternate plan options and comparisons.
Essential Duties And Responsibilities
§ Utilize predictive analytics software to: produce renewal projections; Estimate actuarial differences between plan designs and relative values between specific reinsurance contracts; Predict population migration based on plan designs/contributions/incentives; Evaluate the appropriateness of self-funding vs fully insured; and Provide reporting on specific reinsurance deductible levels.
§ Update Claims Reporting Dashboards on a monthly basis and provide reporting/written summaries of findings to clients.
§ Produce IBNR estimates for client financials.
§ Evaluate the appropriateness of self-funding vs fully insured and develop illustrative rates for plan designs.
§ Analyze healthcare claims and identify members eligible for alternative coverage plans.
§ Use financial modeler, population health analysis and other tools to predict financial impact on client plans.
§ Other duties as assigned.
Additional Responsibilities
§ Lead, guide, direct mid-year and annual renewal meetings and participate in internal pre-renewal meetings.
§ Prepare spreadsheets, graphs, charts, diagrams, and other illustrative tools for presentations and reports.
§ Work collaboratively with client service teams to collect and review data for accuracy and consistency.
§ Serve as a Subject Matter Expert on financial reporting.
§ Adapt to new software programs when implemented.
§ Attend all internal scheduled office and team meetings.
§ Remain informed of insurance industry developments and products available in the marketplace and participate in continuing
education events.
§ Make a positive contribution to client satisfaction and strive to improve client service.
§ Attend client meetings when necessary.
§ Build rapport with clients, carrier representatives and respond to email inquiries in a timely manner.
§ Participate in special projects as required.
Qualifications
To perform this job successfully, an individual must be able to perform each essential duty at a high level. The requirements listed below are representative of the knowledge, skill, and/or ability required.
Education and/or Experience
§ Bachelor’s degree in a business-related program or equivalent education and/or experience, with an emphasis in math,
statistics, or finance required or equivalent level of experience.
§ 2-5 years of experience in a similar position with knowledge in healthcare insurance.
§ Familiarity with basic financial reporting and basic medical terminology.
§ Familiarity with basic statistics and understanding of risk and insurance concepts is preferred.
Computer Skills
§ Intermediate to advanced skill level in MS Office Excel
§ Excellent computer skills including word processing and spreadsheet expertise
§ Brokerage Builder / ZyWave software experience
§ Experience with reporting dashboards and plan comparison software is preferred.
§ Experience working in other MS Office Suite programs such as PowerPoint, Word, etc.
§ General use of standard office equipment, such as computer, keyboard, calculator, printer, etc.