Benefits Analyst Senior - Pennsylvania Residents Only

Job Summary

Job Duties

• Monitors plan limits, eligibility and other restrictions on plan participation to ensure compliance with both plan provisions and government requirements.
• Assist in implementation, transition and administration of new and current benefit programs and vendors including administrative procedures, legal and compliance documents, form creation and maintenance and documentation of processes, both internally and with external vendors.
• Performs analysis of plan designs for mergers and acquisitions.
• Collaborates with internal and external partners.
• Perform analysis and evaluation of services, coverage, and options available through insurance and investment companies to make recommendations regarding programs best meeting needs of organization.
• Develop costs by plan and provide recommendations for enhancements and changes to existing programs that are consistent with benefit objectives and strategies.
• Analyzes participation and utilization for all benefits and uses data to monitor trends, recommend plan design changes, educational initiatives, benefit plan changes, vendor changes, cost-sharing, etc.
• Researches and responds to complex questions from employees, HRIS representatives, HR Consultants and leaders regarding interpretation of benefits plans, including eligibility, covered services and exclusions.
• Designs communication of benefit materials in collaboration with internal and external partners (Benefits colleagues, PR and M, legal, HRIS, HR, etc.).
• Review legal compliance documentation (Plan Documents, SPDs, SARs, SMMs, etc.).
• Manage and update Benefit Information on intranet site.
• Develops communication tools to enhance understanding of the company’s benefits package.
• Collaborates with manager, Benefits Analyst and HRIS on system setups and testing for Retirement Plan administration, Open Enrollment, employee enrollments, COBRA, terminations, changes, beneficiaries, disability, accident and death claims, etc.
• Oversees the transfer of data to external contacts for services, including documentation and testing of extract files.
• Investigates discrepancies and provide information in non-routine situations.
• Develops, conducts and participates in a variety of presentations to inform and educate management and employees about changes to benefit plans, administrative practices and legislated requirements and programs.
• Prepares bid specifications, analyze proposals and renewal information, and interprets insurance carrier and vendor contracts.
• Assists in the development of business processes.
• Ensures government compliance activities (5500s, audits, etc.) are completed.
• Assures processes and Standard Operating Procedures (SOP’s) are in place to capture and maintains consistent and accurate benefit related data and processes to ensure compliance.
• Oversees Plan Audits; employee data auditing and reporting.
• Researches current benefit trends and regulatory and legislated requirements and recommends programs and changes to the Manager.
• Stay apprised of all legal and legislative changes as they pertain to our benefit plans Oversees the analysis and reports benefit data for employee benefit planning and financials for Benefit's strategic planning and evaluation, best practices and benchmark surveys.

Work is typically performed in an office environment. Accountable for satisfying all job specific obligations and complying with all organization policies and procedures. The specific statements in this profile are not intended to be all-inclusive. They represent typical elements considered necessary to successfully perform the job.

Position Details

Education

Experience

Certification(s) and License(s)