Benefits Manager – Healthcare Strategy

Morgan Stanley•New York, NY

27d•$91,000 - $120,000

About The Position

Morgan Stanley is seeking a Benefits Manager to lead healthcare strategy. This role is crucial in designing the Firm’s health and benefits offering, evaluating new vendor and program opportunities, and supporting the financial management and data analytics that inform benefits strategy. The ideal candidate will have strong knowledge of employer-sponsored health benefits, a strategic and analytical mindset, and excellent communication skills.

Requirements

Bachelor’s degree from an accredited institution.
3+ years of work experience on a corporate benefits team, health plan administrator or consulting firm
Demonstrated experience with employer-provided health benefits
Proficiency in MS Office suite
Strong knowledge of employer-sponsored health benefits, including medical, dental, vision, and pharmacy, along with broader healthcare industry experience across vendors, payers, and health systems.
Organized self-starter who evaluates opportunities thoughtfully, balances employee experience, compliance, and risk, and looks for creative ways to improve the status quo.
Uses data to guide decisions and identify ways to strengthen strategy, administration, and outcomes.
Works well in a fast-paced environment, adapts quickly to change, and delivers accurate, timely results.
Partners effectively across teams and leadership, incorporates diverse perspectives, and helps develop plans aligned to organizational goals.
Simplifies complex benefits concepts and communicates clearly in writing, presentations, and conversations with employees and Firm stakeholders.

Responsibilities

Strategic evaluation of benefit plans
Analyze current benefit plans and programs to assess competitiveness, determine gaps and identify opportunities
Benchmark our plans, products and vendors against our peers continuously; use market data to help identify trends to inform benefits and well-being strategies
Monitor health plan performance, utilization patterns and cost trends to inform plan changes that improve financial management and plan efficiency, in conjunction with Benefits Analytics
Assess qualitative and quantitative implications of benefit plan changes; develop business cases for proposed changes, including pricing considerations
Collaborate on a multi-year strategy for our health plans and vendors that focuses on health outcomes, quality, cost and the employee experience
Stay up-to-date on industry trends and vendor offering developments
Evaluate new vendors and vendor pitches to determine potential partnerships
Lead or assist with vendor RFPs and vendor selection process
Work in close partnership with team lead to develop strategy around new vendor design and implementation, including program configuration, pricing structure, and communications, in conjunction with internal Benefits, Sourcing, Legal, Technology and Communications partners
Conduct annual vendor contracts review and negotiations with a focus on performance guarantees
Collaborate on annual review and updating of SPDs
Support Annual Enrollment processes
Stay current on regulatory and legislative developments; partner with ERISA counsel and vendors to assess impact and implement required plan and document updates.
Analyze plan data to inform benefit strategy using data warehouse
Support data gathering and analysis for external surveys on our benefit offerings
Drive efforts to track, plan, and deliver regulatory reporting needs to ensure federal, state and local compliance
Support financial operations including budgeting, payments and reconciliations