AddressAs a Health and Benefits Procurement/Placement Specialist, you will materially contribute to a client’s benefits strategy through managing the entire vendor/carrier bid, procurement, and negotiation process. You will have the ability to significant grow your benefits acumen, and financial, client, project management and negotiations skills by working on cutting edge projects alongside leaders in the industry.
Note: Employment-based non-immigrant visa sponsorship and/or assistance is not offered for this specific job opportunity
The Role
Collaborate in the financial and associated funding strategy for group medical, pharmacy, stop loss, dental, vision, life and disability plans, among others. In the context of that strategy:
- Recognize and support execution of client financial strategy
- Understand client’s needs and can identify products and services to support needs
- Understanding of, and ability to, effectively articulate carrier specific strengths and weaknesses
- Identify target carriers/vendors and design/distribute bid requests (RFP)
- Manage follow-up questions/request from the carriers/vendors
- Collect, summarize and analyze proposal findings; make recommendations for finalist carriers
- Understand and can articulate high level recommendations on cost controls measures and potential impacts
- Design and manage placement (renewal/marketing) deliverables for WTW clients with a strict adherence to stated deadlines
- Enter data accurately into pre-established formats for analysis as required; assist in customizing formats as needed
- Effectively manage carrier placement negotiations for larger, more complex clients
- Award business to chosen carrier and artfully manage declination communications to those carriers not selected
- Support communication efforts to clients (renewal / stewardship meetings, etc.) relative to placement
- Increase efficiency within client teams by identifying ways to improve processes
- Build relationships internally and collaborate effectively on cross-functional teams
- Attend seminars, meetings and/other educational events to increase understanding of trends, regulations and developments in the market
- Receive training from experienced consultants and assist to review client needs
- Comply with internal excellence and compliance requirements
- Contribute to the development of new intellectual capital
The Requirements
- 1-3 years’ experience dealing with the financials of health and benefit plans, ideally gained in a benefit consulting/brokerage firm or at a health insurance company, preferred; alternatively, some exposure to, and interest in, health and benefits plans
- Intermediate knowledge of Fully-insured arrangements and understanding self-funded funding arrangements, including stop loss contracts and provisions
- Well organized and detail oriented
- Flexibility and proven ability to identify and resolve complex issues
- Passion for solving problems and sharing solutions to exceed the standards of the client
- Strong client service orientation and ability to respond to all communications effectively and in a timely manner
- Excellent written and verbal communication skills
- Self-starter attitude and ability to establish priorities, work independently and with limited supervision
- Strong analytical, creative and integrative skills
- Excellent Microsoft Office skills, particularly in Excel and PowerPoint
- State Life and Health license required within 90 days of joining
- Bachelor’s degree preferred
- Pursuit of CEBS designation, or health and welfare underwriting training desired
This position will remain posted for a minimum of three business days from the date posted or until a sufficient/appropriate candidate slate has been identified.
Base salary range and benefits information for this position are being included in accordance with requirements of various state/local pay transparency legislation. Please note that salaries may vary for different individuals in the same role based on several factors, including but not limited to location of the role, individual competencies, education/professional certifications, qualifications/experience, performance in the role and potential for revenue generation (Producer roles only).
Compensation
The base salary compensation range being offered for this role is $70,000 – $75,000 USD.
This role is also eligible for an annual short-term incentive bonus.
Company Benefits
WTW provides a competitive benefit package which includes the following (eligibility requirements apply):
- Health and Welfare Benefits: Medical (including prescription coverage), Dental, Vision, Health Savings Account, Commuter Account, Health Care and Dependent Care Flexible Spending Accounts, Group Accident, Group Critical Illness, Life Insurance, AD&D, Group Legal, Identify Theft Protection, Wellbeing Program and Work/Life Resources (including Employee Assistance Program)
- Leave Benefits: Paid Holidays, Annual Paid Time Off (includes paid state/local paid leave where required), Short-Term Disability, Long-Term Disability, Other Leaves (e.g., Bereavement, FMLA, ADA, Jury Duty, Military Leave, and Parental and Adoption Leave), Paid Time Off (Washington State only)
- Retirement Benefits: Contributory Pension Plan and Savings Plan (401k).
At WTW, we trust you to know your work and the people, tools and environment you need to be successful. The majority of our colleagues work in a ”hybrid” style, with a mix of remote, in-person and in-office interactions dependent on the needs of the team, role and clients. Our flexibility is rooted in trust and “hybrid” is not a one-size-fits-all solution.
We understand flexibility is key to supporting an inclusive and diverse workforce and so we encourage requests for all types of flexible working as well as location-based arrangements. Please speak to your recruiter to discuss more.
EOE, including disability/vets
