Benefits Financial Analyst
About The Position
The Personnel Cabinet offers the great opportunity to work with and serve state agencies, employees, and citizens across the Commonwealth of Kentucky. The Personnel Cabinet’s mission is to provide leadership and guidance to attract, develop, motivate, and retain a talented, diverse workforce; foster an understanding of and adherence to regulatory requirements; and create a positive, supportive work environment that values all employees. The Department of Employee Insurance (DEI) administers an approximate $1.8 billion, self-funded, health insurance program along with optional life, dental, and vision insurances, and flexible spending accounts for nearly 300,000 public employees and their dependents. The Benefits Financial Analyst position will reside within the Premium Billing Branch. The Premium Billing Branch (PBB) is within DEI and is responsible for the administration of premium billing and reconciliation of benefit plans administered by the Personnel Cabinet. Responsible benefit plans include health and optional insurances, flexible spending accounts, health reimbursement accounts, and administrative fees for agencies that participate with DEI and the Kentucky Employees Health Plan including state agencies, boards of education, health departments, retirement systems, and governmental quasi agencies.
Requirements
- Graduate of a college or university with a bachelor's degree.
- Three years of experience in human resource (HR) administration, the administration of employee benefit programs or similar employee assistance programs, life or health insurance administration or sales, the reconciliation of financial or benefit accounts or financial transactions, statistical analysis, accounting, auditing, planning, bookkeeping, banking, business administration, public administration or a related field.
- Master's degree will substitute for the required experience on a year-for-year basis.
- Additional experience in the above areas will substitute for the required education on a year-for-year basis.
- Current certification as a Certified Medical Office Manager (CMOM), Certified Accounts Payable Professional (CAPP). Certified Credit and Risk Analyst (CCRA), Accounts Receivable Specialist (ARS), or Accounts Receivable Manager (ARM) will substitute for up to two years of the required experience.
Nice To Haves
- Advanced skills with standard reporting and analytic Microsoft Office products such as Excel and Access.
- Experience in banking or financial reconciliation.
- Experience with health insurance, optional insurances, FSA and HRA enrollment, and financial administration.
- Experience working with KHRIS, insurance, or billing and collections systems.
- Exceptional attention to detail and accuracy.
- Excellent communication skills, both written and verbal.
- Works well as part of a team.
Responsibilities
- Conducts specialized reconciliation of premium billing for health insurance, optional insurance, flexible spending accounts, and administrative fees, as well as monitoring of agency and member accounts.
- Responds to and researches specialized inquiries from state agencies, insurance vendors, and public employees regarding benefit programs.
- Generates and analyzes out of balance reports for health insurance, optional insurance, flexible spending accounts, and administrative fees.
- Generates and analyzes 30/60-day arrears correspondence based off account status in the Kentucky Human Resource Information System (KHRIS) and distribute to agency billing contacts and employees.
- Performs a variety of specialized billing adjustments and functions in KHRIS.
- Processes incoming mail and deposits of premium payments.
Benefits
- A 37.50-hour work week
- Paid time off (sick and vacation) and paid holidays
- Training and career development opportunities
- A variety of affordable health, dental, and vision insurance options, as well as flexible spending accounts
- Life insurance
- Retirement
- Optional deferred compensation program (pre- and post-tax options - 401K, 457b and IRA)
- Wellness incentive programs
- Employee discounts on electronics, health, wellness, retail, travel, events, entertainment, and services
Stand Out From the Crowd
Upload your resume and get instant feedback on how well it matches this job.
What This Job Offers
Job Type
Full-time
Career Level
Executive
