Purpose of the Position
The Benefits Analyst is responsible for strategy and administration of employee benefits. As needed, this position provides special guidance and assistance to all locations on various employee benefit plans. The Benefits Analyst conducts and reviews surveys and benchmarking within the industry and/or community to determine company's competitive position in employee benefits. This position develops, recommends and installs approved, new or modified plans, establishes employee benefits policies and supervises administration of existing plans. This position develops cost control procedures to assure maximum coverage at the least possible cost to company and employee.
Primary Duties and Responsibilities
- Administers employee benefit programs such as retirement plans, medical, dental, vision plans, life insurance plans, temporary disability programs and wellness programs.
- Evaluates and compares existing company benefits with those of other employers within the industry or market, by analyzing other plans, surveys, benchmarking and other sources of information.
- Plans, develops and/or participates in area and industry surveys. Analyzes results of surveys and develops specific recommendations for review by management.
- Develops specifications for new plans or modifies existing plans to maintain company's competitive position in labor market.
- Installs approved new plans or changes to existing plans by preparing announcement materials, plan summary documents and other media collateral for communicating plans to employees.
- Conducts employee meetings and arranges for enrollment. Advises and counsels management and employees on existing benefits.
- Prepares and executes, with legal consultation, benefits documentation, such as original and amended plan texts, benefit agreements and insurance policies.
- Instructs insurance carriers, trustees and other administrative agencies outside the company to effect changes in benefits program. Ensures prompt and accurate compliance.
- Assures company compliance with provisions of Employee Retirement Income Security Act and the Affordable Care Act. Supervises preparation of reports and applications required by law to be filed with federal and state agencies, such as Internal Revenue Service, Department of Labor, insurance commissioners, and other regulatory agencies.
- Reviews and analyzes changes to state and federal laws pertaining to benefits, and report necessary or suggested changes to management.
- Handles benefits inquiries and complaints to ensure quick, equitable, courteous resolution. Maintains contact in person, and by phone or mail, with hospitals, physicians, insurance companies, employees, and beneficiaries to facilitate proper and complete utilization of benefits for all employees.
- Supervises maintenance of enrollment and claims records for all benefits plans.
- Determines employee benefit interests by conducting employee surveys; forming focus groups; analyzing responses.
- Recommends employee benefit programs by examining, evaluating, and optimizing employee understanding, acceptance, and interest, costs, regulatory requirements, and competitive advantage.
- Evaluates proposed employee benefit contracts by studying provisions, experience ratings and estimating impact.
- Evaluates and implements project based initiatives to lower administration and/or claims cost on benefit plans
- Manages Broker, third party administrator (TPA) and carrier relationships.
- Proactively develops and implements recommendations to simplify benefit HRIS processes through automation and/or streamlining.
- Other duties as assigned by Director of Human Resources.
- Demonstrates knowledge of, and carefully follows all applicable federal and state compliance requirements and regulations including those prescribed by the Department of Education, accrediting agencies, CIE, and internal UMA policies and procedures.
- Effectively communicates compliance requirements to students and other staff as appropriate and quickly escalates any compliance concerns to the Compliance department.
- Bachelor’s degree in Human Resources or related field required.
- Three to five years’ benefits administration experience required.
- Two years’ project management experience preferred.
- Proficiency with Microsoft Office Suite (e.g. Excel, Word, PowerPoint and Sharepoint).
- HRIS (UltiPro) experience preferred.
- CBP or Professional HR certification preferred.
Associated Knowledge, Skills & Abilities
- Strong knowledge in Benefits Administration and HRIS systems, and how they work in collaboration with each other.
- In depth knowledge of HIPAA, PPACA, ERISA, USERRRA and other Federal/State Compliance laws and regulations related to benefits.
- Demonstrated experience interacting with employees at all levels and providing excellent customer service.
- Strong analytical and problem solving skills.
- Strong attention to detail, organizational and follow through skills.
- Strong communication skills.
- Ability to handle and manage multiple assignments and projects while effectively balancing schedules and ad hoc requests.
- Flexibility to work evenings and weekends as needed.
- Requires long periods of sitting at a desk working on a computer
- Requires occasional bending, stooping and squatting
- Requires occasional lifting of up to 10 lbs.