- Research employee benefits plans and vendors to identify those that present the best value. Design, recommend, and implement new benefits programs (where applicable). Examine possible plan designs and benefits cost changes. Negotiate with vendors for best plans, options and rates.
- Serve as primary contact for plan vendors. Coordinate transfer of data to external contacts for services, premiums and plan administration. Evaluate and revise internal processes to reduce costs and increase efficiency. Document and maintain administrative procedures for assigned benefits processes. Ensure compliance with applicable government regulations. Ensure timeliness and accuracy of required reporting and fees.
- Coordinate benefits processing; enrollments, terminations, changes, beneficiaries, disability, accident and death claims. Oversee maintenance of employee benefits files, maintain group benefits database and update employee payroll records.
- Gather employee data and oversee the processing of monthly billings and the preparation of vouchers for payment of administrative fees for all group plans.
- Audit the accuracy and performance of functions performed by benefits staff. Analyze current benefits, evaluating the use, services, coverage, effectiveness, cost, plan experience and competitive trends in benefits programs, and identify the company’s stance.
- Perform plan audits. Prepare, collect and organize data for actuarial assessments. Review data in conjunction with actuarial evaluation task forces.
- Review both short-and long-range cost estimates/projections and relevant statistical analyses regarding modifications in benefits programs and implementation of new programs.
- Survey industry trends. Complete benefits surveys and review information obtained from the results. Analyze complex benefits information. Forecast trends and assist with future benefits designs. Develop specific recommendations for review by management.
- Monitor administrative costs of benefits programs and recommend cost containment strategies, including alternative methods for administration and funding. Prepare budgetary recommendations and assist in the monitoring, verifying and reconciling of budgeted funds.
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