Benefits Consultant, Health & Welfare Consulting

Fidelity Investments • Chicago, IL

67d • $89,000 - $180,000 • Hybrid

About The Position

As an employee benefits Consultant focused on Health & Welfare Consulting, you will manage projects and client relationships spanning a variety of topics including, but not limited to plan design, compliance and reporting services, health plan underwriting and employee contribution setting, health and well-being management, and retiree health care solutions. You'll lead consulting projects, mentor other associates, and promote teamwork. Important skills for this role include: Analyzing and presenting data vital to client benefit programs Managing benefit plan renewal processes, including project management, vendor coordination, qualitative and quantitative analysis, negotiations, and documentation of results Developing H&W program pricing, budgets, forecasting, employee contributions and premium equivalent rates for self-insured benefit plans (adhering to actuarial standards of practices) Assisting in development of long- and short-term employee benefits strategy Negotiation of rates, contractual provisions, and performance guarantees with current benefit vendors Manage marketing analysis including RFP creation, proposal collection, and vendor comparisons Monitoring the market to remain current regarding the major health plans, administrators, and other vendors available in the marketplace to consulting clients and prospects, as well as new, innovative solutions Working as a cooperative, proactive team member in projects involving other associates throughout the practice, group, and region to deliver coordinated client results Mentoring less-experienced associates at every opportunity Sharing information freely and pro-actively. Keep other associates advised of current information, and ensure all relevant information is captured in client documents

Requirements

• 5-10 years' experience working with H&W plan financials, preferably at a benefit consulting/brokerage firm or through a health underwriting/actuarial function at an insurance company
• Advanced knowledge of health insurance industry and employee benefits strategy
• Experience with self-insured medical underwriting is required
• Strong Microsoft Office skills in Excel, Word, and PowerPoint
• Entrepreneurial & Creative: Approaches problems with curiosity and creativity, always looking for innovative solutions and new ways to add value.
• Collaborative Team Player: Works well across teams, valuing diverse perspectives and fostering a culture of trust and shared success.
• Resourceful & Organized: Adept at juggling multiple priorities while keeping the team focused and organized.
• Proactive & Curious: Takes initiative, ask thoughtful questions, and actively seek out learning opportunities to grow both personally and professionally.
• Comfortable Navigating Ambiguity: Excels in environments where the path isn't always clear, using strategic thinking to navigate uncertainty.
• Strong Communicator: Brings clarity and confidence to both written and verbal communication.

Nice To Haves

• Actuarial exam completion and/or accreditation preferred

Responsibilities

• Analyzing and presenting data vital to client benefit programs
• Managing benefit plan renewal processes, including project management, vendor coordination, qualitative and quantitative analysis, negotiations, and documentation of results
• Developing H&W program pricing, budgets, forecasting, employee contributions and premium equivalent rates for self-insured benefit plans (adhering to actuarial standards of practices)
• Assisting in development of long- and short-term employee benefits strategy
• Negotiation of rates, contractual provisions, and performance guarantees with current benefit vendors
• Manage marketing analysis including RFP creation, proposal collection, and vendor comparisons
• Monitoring the market to remain current regarding the major health plans, administrators, and other vendors available in the marketplace to consulting clients and prospects, as well as new, innovative solutions
• Working as a cooperative, proactive team member in projects involving other associates throughout the practice, group, and region to deliver coordinated client results
• Mentoring less-experienced associates at every opportunity
• Sharing information freely and pro-actively. Keep other associates advised of current information, and ensure all relevant information is captured in client documents

Benefits

• comprehensive health care coverage and emotional well-being support
• market-leading retirement
• generous paid time off and parental leave
• charitable giving employee match program
• educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Industry: Securities, Commodity Contracts, and Other Financial Investments and Related Activities
• Education Level: No Education Listed
• Number of Employees: 5,001-10,000 employees