Lead Benefits Consultant, Healthcare and Pharmacy Innovation

Target•Brooklyn Park, MN

13d•$95,000 - $171,000•Hybrid

About The Position

Target Human Resources is well known for its signature ability to build the very best teams, and we infuse our work with Target’s distinctive retail brand by continuously experimenting, evolving and innovating. With the chance to positively impact nearly 400,000 people worldwide in our stores, distribution centers and headquarters, you will be a strategic partner to both the leaders and team members who elevate and nurture the Target guest experience. Working within Total Rewards & Shared Services you will provide expertise and support to ensure that Target continues to provide competitive compensation and benefit offerings as part of our strategic vision to attract and retain top talent through industry-leading, inclusive, differentiated total rewards package designed to meet the unique needs of our team members, while fueling Target’s performance. As the Lead Benefits Consultant, Healthcare and Pharmacy Innovation, you will lead the development and execution of innovative healthcare strategies that improve quality, affordability, and team member experience across Target’s health benefits portfolio. Serving as a subject matter expert in healthcare and pharmacy strategy, you will identify opportunities to optimize total cost of care through data-driven insights, market trend analysis, and strategic partnerships. In this role, you will lead innovation initiatives, evaluate emerging solutions, support financial modeling and contracting efforts, and partner with stakeholders to advance integrated healthcare and pharmacy strategies. A key focus will include specialty pharmacy management, pharmacy benefit optimization, and healthcare trend mitigation. This position plays a critical role in shaping Target’s healthcare strategy by balancing financial performance with innovative solutions that improve health outcomes and team member experience.

Requirements

6 -10 years of work experience including 2-4 years of experience in employer-sponsored healthcare and pharmacy benefits
Direct employer-side experience with Pharmacy Benefit Manager (PBM) strategy and contract negotiation
Foundational financial acumen and experience building financial models and ROI analyses
Ability to analyze healthcare claims data and translate insights into actionable recommendations
Skilled at influencing cross-functional partners in a matrix environment
Strong written and verbal communication skills

Nice To Haves

General understanding of specialty drug management, rebate economics, and formulary strategy
Experience supporting healthcare and pharmacy pilots, innovation initiatives, or transformation efforts

Responsibilities

Execute healthcare innovation and trend management initiatives to optimize total cost of care, improve outcomes, and enhance the team member experience, with a focus on pharmacy and specialty drug strategies.
Support healthcare and pharmacy strategy through analysis of benefit design, vendor performance, specialty programs, emerging care models, and evolving market solutions.
Manage and optimize healthcare and pharmacy programs, ensuring alignment with financial, operational, and member experience objectives.
Identify, evaluate, and pilot innovative healthcare and pharmacy solutions, establishing test-and-learn approaches and scaling successful initiatives.
Develop business cases, financial models, and ROI analyses to assess the value and impact of proposed strategies.
Partner in healthcare and pharmacy financial planning, forecasting, and trend management to improve predictability and financial performance.
Support vendor selection, RFP processes, and contract negotiations in partnership with Procurement and Legal, ensuring strong financial and performance outcomes.
Analyze healthcare and pharmacy claims data, utilization trends, and emerging risks to identify cost drivers and intervention opportunities.
Support annual planning and renewal activities through financial analysis and assessment of member and business impacts.
Monitor industry trends, regulatory changes, and competitive practices to inform strategy, innovation priorities, and benefit evolution.
Develop performance metrics and reporting frameworks to measure program effectiveness, pilot outcomes, and vendor performance.
Communicate complex healthcare and pharmacy concepts, insights, and recommendations to cross-functional stakeholders and senior leadership.