Sr. Account Manager, Employee Benefits

OVD Insurance • Grand Rapids, MI

2d • Hybrid

About The Position

The Senior Account Manager, Employee Benefits serves as the day-to-day service lead for a book of employee-benefit clients, primarily self-funded with some fully insured groups. The role provides proactive plan strategy, financial reporting and rate projections, timely renewals, and HR support. It requires advanced knowledge of self-funded plan administration and alternative funding arrangements, including stop-loss, group and agency captives, level-funded plans, and carved-out PBM contracts, as well as medical, dental, vision, life, disability, and flexible spending account benefits. The position applies relevant federal and state regulations and compliance requirements affecting employee benefit programs.

The Senior Account Manager works with Producers, Client Success Managers, Account Managers, Account Coordinators, clients, carriers, and vendors. The role also mentors colleagues, leads client presentations, supports renewals and implementations, resolves claims and service issues, and helps clients with compliance and HR questions. The position may be performed onsite or in a hybrid capacity, subject to management discretion.

OVD Insurance describes itself as a fast-growing independently owned agency with a values-driven, relationship-focused culture. The company offers a hybrid workplace schedule, professional growth opportunities, an onsite health service, and opportunities to volunteer and connect with colleagues. OVD Insurance is an equal opportunity employer and cannot sponsor work visas for this position.

Requirements

• Five or more years of experience working as a Benefits Account Manager servicing self-funded clients.
• Demonstrated experience with complex funding arrangements, including captives, stop-loss, level-funded plans, and carved-out PBM arrangements.
• Demonstrated ability to build and explain rate projections, funding rates, renewal forecasts, and claims-experience reporting.
• Working knowledge of self-funded compliance requirements, including ERISA, HIPAA, MHPAEA, the Consolidated Appropriations Act, PCORI, and Section 105(h).
• Advanced proficiency in Microsoft Excel, including formulas, pivot tables, and financial modeling.
• Current Health and Life license.
• Ability to work onsite in a full-time or hybrid capacity, at management’s discretion.
• Excellent interpersonal skills; warm, approachable, savvy, and empathetic.
• Extremely strong oral and written communication skills, including translating technical information for end users at all levels.
• High-energy work ethic and ability to work independently while maintaining excellent customer relationships.
• Ability to work collaboratively with others.
• Demonstrated ability to mentor and develop Account Managers and Account Coordinators.
• Ability to work without direct supervision.
• Ability to perform essential job functions in the described work environment, with reasonable accommodation where applicable.

Nice To Haves

• Bachelor’s degree preferred.

Responsibilities

• Serve as primary service contact for an assigned book of primarily self-funded and some fully insured clients, and provide backup support to other account managers.
• Support Producers, Client Success Managers, other Account Managers, and Account Coordinators in client servicing.
• Direct and mentor Account Managers and Account Coordinators, including reviewing renewal, reporting, and funding work product.
• Assist Producers in developing and executing multi-year benefit strategies, evaluating funding arrangements, plan design, vendor mix, and cost-containment opportunities.
• Assist Producers in managing complex funding arrangements, including group and agency captive programs, specific and aggregate stop-loss coverage, and carved-out PBM contracts.
• Prepare rate projections and renewal forecasts, including claims trend analysis, funding rates and budgets, COBRA rates, employee contribution models, and stop-loss renewal evaluations.
• Produce and present ongoing financial reporting, including claims experience, large claimant reviews, fixed and variable cost tracking, and stop-loss reimbursement monitoring.
• Review PBM contract terms, pricing guarantees, rebate arrangements, and performance reporting; assist with PBM marketing and contract renewals.
• Review stop-loss contracts for risks such as lasers, contract basis terms, and gaps between plan documents and stop-loss coverage, and advise clients on mitigation.
• Coordinate with TPAs, stop-loss carriers, captive managers, PBMs, and point solution vendors to resolve service, claims, and contract issues.
• Prepare advanced Excel analyses and Word documents for financial reporting, renewals, funding analysis, and employee materials.
• Lead preparation and delivery of client strategy, renewal, and financial review presentations with the Producer and Client Success Manager.
• Market and negotiate new-business and renewal proposals with insurance carriers, stop-loss carriers, TPAs, and PBMs by initiating and following up on requests for proposals and quotes.
• Ensure proper carrier and vendor implementation for new product lines, funding changes, and vendor transitions.
• Maintain required data in the agency management system for employee enrollment management, policy tracking, reporting, and commissions.
• Design, build, and maintain client online enrollment systems, benefit guides, and enrollment forms.
• Participate in capabilities presentations with prospective clients, contributing self-funded and alternative-funding expertise.
• Participate in employee open-enrollment meetings as needed due to Producers’ scheduling constraints.
• Assist clients with claims resolution, including escalated claims, appeals, and stop-loss reimbursement issues.
• Produce and distribute compliance documents and support self-funded compliance requirements, including plan documents and SPDs, PCORI fees, Form 5500 coordination, and nondiscrimination testing.
• Provide HR support and advise clients on policy, claims, FMLA, COBRA, and disability questions.
• Perform other duties and tasks required by the Company.

Benefits

• Competitive compensation and benefits packages.
• Professional development and advancement opportunities.
• Hybrid workplace schedule to support work-life balance.
• Free access to an onsite nurse for blood draws, check-ups, flu shots, and more.
• Supportive team environment and opportunities to volunteer with local nonprofits.
• Opportunities to connect with colleagues outside of work.

What This Job Offers

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