Employee Benefits Data Analyst
About The Position
The Employee Benefits Data Analyst plays a key role in supporting OVD Insurance clients by managing monthly reporting and transforming complex plan data into clear, actionable insights. This role analyzes medical plan costs, demographics, and other factors affecting the risk profile of select clients, evaluating financial performance and identifying trends, risks, and cost drivers, with the goal of proactively reducing the client's risk profile and overall costs. This is an evolving role that adapts to industry changes, client needs, and reporting requirements, and is expected to grow with the analytics function over time, including helping evaluate and/or implement new data and reporting tools and programs.
Requirements
- Current Life, Accident, and Health Insurance Certification with the State of Michigan required, or willingness to obtain within 6 months of hire.
- 3+ Years of experience with medical plan analytics, underwriting, or reporting at an agency, medical carrier, or TPA
- Strong Excel skills (ex. formula application and creation), with a willingness to build toward more advanced functionality
- Ability to identify data accuracy concerns and proactively work to find long-term solutions to resolve them.
- Ability to provide detailed work with a minimum of errors.
- Solid understanding of the cost components of fully insured and self-funded health plans (e.g., premiums, claims, stop-loss, administrative fees, PBM costs).
- Understanding of current technology and reporting systems, with a willingness to help evaluate other data analytics tools and programs.
- Ability to work full-time in a hybrid capacity (management discretion) at the Grand Rapids facility
- Strong oral and written communication skills, including the ability to translate “technical speak” in a way that end users at all levels can understand.
- High energy work ethic with ability to work independently while maintaining excellent customer relationships.
- Ability to work collaboratively with others.
- Ability to work without direct supervision.
- Regular and predictable attendance.
Responsibilities
- Retrieve claims reports from carriers and 3rd party data analytics vendors
- Create and update monthly tracking reports for all self-funded and level-funded groups and larger fully insured groups.
- Provide analysis regarding any outliers in monthly reports that may affect risk/costs to agents and clients. Provide explanations and answer client/agent questions regarding reports and analyses.
- Identify trends, risks, cost drivers, and utilization patterns impacting healthcare spend for assigned clients, and communicate findings clearly to agents, clients, and internal leadership
- Review underwriting period claims and provide notice to agents if clients are likely to experience a significant increase at renewal.
- Project renewal increases for agents based on current claims
- Assist in reviewing renewals from carriers upon request, helping identify areas agents can use as negotiating points with the carrier to reduce renewals
- Identify discrepancies between carrier and 3rd party data analytics vendors. Develop short-term solutions to correct discrepancies and collaborate with carriers and 3rd party data analytics providers to develop long-term solutions for eliminating them.
- Perform other plan analyses upon agent request
- Assist in evaluating and/or implementing new data analytics tools and reporting programs
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What This Job Offers
Job Type
Full-time
Career Level
Mid Level
Education Level
No Education Listed
