Lead Benefits Consultant, Healthcare and Pharmacy Innovation

Target • Brooklyn Park, MN

28d • $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 pharmacy-focused innovation and trend mitigation initiatives within Target’s employer-sponsored healthcare portfolio. Serving as a subject matter expert in pharmacy strategy and specialty drug management, you will drive pilots, financial modeling, and contracting support while also partnering on broader healthcare plan design initiatives. This role plays a critical part in optimizing total cost of care, strengthening our pharmacy strategy, and advancing innovative solutions that balance financial performance and team member experience.

Requirements

• 6–10 years of experience in employer-sponsored healthcare and pharmacy benefits
• Direct employer-side experience with Pharmacy Benefit Manager (PBM ) strategy and contract negotiation
• Strong understanding of specialty drug management, rebate economics, and formulary strategy
• Strong financial acumen and demonstrated experience building financial models and ROI analyses
• Experience leading healthcare/ pharmacy pilots, innovation initiatives, or transformation efforts
• 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

Responsibilities

• Lead pharmacy-focused innovation and market disruption initiatives to mitigate trend, optimize specialty drug spend, and improve total cost of care.
• Serve as pharmacy subject matter expert, advising on PBM contracting strategy, formulary design, rebate structures, specialty pharmacy management, biosimilars, and emerging pricing models.
• Manage and optimize pharmacy and select healthcare solutions, including regional plans, narrow networks, and specialty programs, ensuring performance alignment with financial and experience objectives.
• Identify, evaluate, and pilot emerging healthcare and pharmacy solutions, building structured test-and-learn frameworks and scaling successful strategies.
• Develop business cases and financial analyses to assess ROI, cost impact, and risk mitigation of proposed solutions.
• Partner in pharmacy financial routines, supporting forecasting accuracy, variance analysis, and volatility mitigation to strengthen trend predictability and financial discipline
• Recommend vendor selection, RFP processes, and contract negotiations in partnership with Procurement and Legal, ensuring financial protections and performance guarantees are embedded in agreements.
• Analyze pharmacy and healthcare claims data, utilization patterns, and pipeline risk to identify cost drivers and targeted intervention opportunities.
• Support annual planning and renewal processes through financial analysis and assessment of member impact related to healthcare and pharmacy plan changes.
• Monitor industry trends, regulatory developments, and competitive practices to inform innovation priorities and strategy evolution.
• Develop performance metrics and reporting frameworks to evaluate pilot outcomes and vendor performance.
• Clearly communicate complex pharmacy and healthcare concepts to cross-functional partners and senior leadership.

Benefits

• Target offers eligible team members and their dependents comprehensive health benefits and programs, which may include medical, vision, dental, life insurance and more, to help you and your family take care of your whole selves.
• Other benefits for eligible team members include 401(k), employee discount, short term disability, long term disability, paid sick leave, paid national holidays, and paid vacation.
• Find competitive benefits from financial and education to well-being and beyond at https://corporate.target.com/careers/benefits.

What This Job Offers

• Job Type: Full-time
• Career Level: Mid Level
• Education Level: No Education Listed