Overpayment Recovery Specialist

Aflac, Incorporated•Windsor, CT

3d•$55,000 - $75,000•Remote

About The Position

We are the duck. We develop and empower our people, cultivate relationships, give back to our community, and celebrate every success along the way. We do it all…The Aflac Way. Aflac, a Fortune 500 company, is an industry leader in voluntary insurance products that pay cash directly to policyholders and one of America's best-known brands. Aflac has been recognized as Fortune’s 50 Best Workplaces for Diversity and as one of World’s Most Ethical Companies by Ethisphere.com. Our business is about being there for people in need. So, ask yourself, are you the duck? If so, there’s a home, and a flourishing career for you at Aflac. This role is a remote role. This means you will be expected to work from your home, within the continental US. If the role is remote, there may be occasions that you are requested to come to the office based on business need. Any requests to come to the office would be communicated with you in advance.

Requirements

Strong attention to detail, accuracy is crucial when reviewing payment records, verifying overpayments, and ensuring correct adjustments.
Ability to analyze financial data, identify discrepancies, and understand complex claim details to determine if overpayments have occurred.
Strong math aptitude is required.
Strong written and verbal communication skills are essential for notifying claimants, explaining overpayment situations, and negotiating repayment terms.
Strong customer orientation with focus and desire to provide excellent customer service.
Ability to handle complex situations, resolve disputes, and find solutions to recover overpaid funds effectively.
Knowledge of Disability Insurance Policies: Understanding the terms and conditions of disability insurance policies is critical to accurately assess and process overpayments.
Familiarity with industry regulations and compliance requirements ensures that recovery practices adhere to legal standards.
Managing multiple cases, tracking repayments, and maintaining detailed records require excellent organizational abilities.
Competence in negotiating repayment plans or settlements with claimants or providers to recover
High School Diploma
4 years of job-related experience
2 - 5 years experience with group disability insurance, collections and /or financial management.
Or an equivalent combination of education and experience

Nice To Haves

Bachelor's Degree In accounting, finance, or business-related field

Responsibilities

Initiate recovery procedures for overpaid amounts by communicating with claimants and/or their representatives.
Independently negotiate repayment plans and settlements, ensuring they are fair and compliant with regulatory requirements, and balances claimant needs with favorable terms for the company.
Monitor and manage ongoing recovery efforts to ensure timely collection of funds.
Manage / oversee collections vendor to ensure optimal business outcomes.
Maintain detailed records of overpayment cases, recovery actions, and claimant communications.
Prepare and present reports on recovery status, outstanding overpayments, and performance metrics to management.
Ensure all documentation is accurate and adheres to company policies and legal standards.
Creates policies, procedures and standards around overpayment recoveries and collections.
Ensure recovery actions comply with applicable disability insurance regulations and industry standards.
Stay informed about changes in disability insurance laws and regulations that may impact recovery processes.
Implement and follow best practices to ensure compliance and mitigate risks.
Interacts professionally and objectively with claimant legal counsel and represents Aflac to mitigate risks.
Address inquiries and concerns from claimants and their legal counsel regarding overpayments and recovery processes.
Provide clear explanations and support to claimants throughout the recovery process.
Collaborate with internal teams to resolve issues and enhance recovery strategies.
Performs other duties as required.

Benefits

medical
dental
vision coverage
prescription drug coverage
health care flexible spending
dependent care flexible spending
Aflac supplemental policies (Accident, Cancer, Critical Illness and Hospital Indemnity offered at no costs to employee)
401(k) plans
annual bonuses
opportunity to purchase company stock
11 paid holidays
up to 20 days PTO to be used for any reason
state-mandated sick leave (Washington employees accrue 1-hour sick leave for every 40 hours worked)
other leaves of absence, if eligible, when needed to support your physical, financial, and emotional well-being
adoption and parental leave