Sr. H&B Consulting Analyst
The purpose of this job is to support consultants in managing client accounts by researching, analyzing, and evaluating medical, dental, life and disability benefits plans and programs for employers with more than 5,000 employees. The expectation at this level is that the analyst will exercise more independent thinking and be able to complete projects with little guidance from consultants
- Data entry and analysis - assist the consulting team in gathering, organizing, entering and analyzing data using Excel spreadsheets to be used for various client projects. This role also involves an increased focus on analysis of the results and managing portions of projects, including reviewing the work of lower level analysts. Examples of the types of projects and responsibilities include:
- Marketing efforts - gather benchmarking, utilization or rate data from the vendors via a Request for Proposal (RFP); interpret the meaning of the data and summarize the responses from the RFP in Excel or PowerPoint format for presentation to the client
- Cost projections and vendor renewal workups - gather data from the client and vendors to populate Excel spreadsheets used for developing cost projections and evaluation of vendor renewal workups; results are used as part of client renewal and budget meetings
- Tracking claims experience - gather data from client and vendors and check for reasonableness using independent judgment; analyze actual versus expected healthcare costs using an Excel template; results are typically sent to clients on a monthly or quarterly basis
- Plan design consolidation - gather data from the client and current vendors needed for analyzing the impact of a client's consolidation of its healthcare plans; typically involves organizing and summarizing plan design details and costs in Excel for further analysis by the team; responsibilities also include checking data for reasonableness and follow-up with vendors regarding missing or inaccurate data.
Understand Health and Benefits products, services and tools - Understand vendor/carrier markets, more advanced underwriting and financial skills, Health & Benefit products, services and technical tools, and intranet resources such as H&B MercerLink by participating in training courses, online learning, or through learning from more experienced colleagues.
Project management & consulting skills - understand and demonstrate project management and consulting skills such as:
- Managing the quality and timeliness of client deliverables
- Helping to develop budgets and billing reports
- Participating in client calls and meetings as appropriate
- Delegating to and reviewing project work of more junior colleagues
- Assisting with the preparation and delivery of clear and concise client-friendly communications.
Develop and present benchmarking reports - gather and analyze health benefits data from a national survey administered and published by Mercer, input it into a standardized template and compare a client's medical and dental plan information (such as the benefits they offer, rates, contributions) to other companies by industry or geography and present the final report to the client. The analyst will have a discussion with a consultant up front to determine what cuts of the data to make.
Meet Some of Marsh & McLennan Companies's Employees
Contract Review Specialist
Nancy reviews the contracts her clients either offer or receive from vendors, taking care to monitor the insurance requirements on the provided services.
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