Benefits Analyst

Benefits Analyst

At BSI Corporate Benefits, data-driven decision making is at the heart of delivering exceptional employee benefit solutions. As a Benefits Analyst, you will play a vital role in helping clients understand the financial impact of their benefit programs, evaluate plan and funding options, and make informed decisions that support both their employees and business objectives. Your expertise will help drive client retention, revenue growth, and the delivery of innovative benefits strategies.

This position goes beyond spreadsheets and reporting. It is about transforming complex claims, enrollment, and financial data into strategic insights that improve outcomes for our clients. In this role, you will collaborate closely with Producers, Account Executives, Account Managers, carrier partners, and clients to support new business opportunities, renewals, strategic planning initiatives, and ongoing consulting efforts.

What Makes This Job So Unique?

• Analyze claims, enrollment, contribution, utilization, and financial data to identify trends and provide recommendations that enhance client benefit strategies.
• Compile census, financial, and plan information necessary to prepare comprehensive and accurate Requests for Proposal (RFPs).
• Develop, market, and manage RFPs to insurance carriers and vendor partners while tracking results and ensuring timelines are met.
• Prepare client and prospect reporting, including plan cost history, benchmarking, contribution analysis, network discount analysis, enrollment tracking, PEPY calculations, disruption analysis, funding comparisons, and multi-year cost projections.
• Create side-by-side benefit comparisons, rate analyses, funding comparisons, and total cost exhibits using Excel and other reporting tools.
• Responsible for proactively meeting with Account Management teams and preparing claims analysis that meet market requirements and renewal objectives from ongoing strategic planning sessions on client needs.
• Confirm final rating and implementation accuracy by reviewing first invoices and carrier billing following plan renewals.
• Build and maintain strong relationships with carrier partners through regular communication, meetings, and industry events.
• Support Sales and Account Management teams by responding to requests, researching solutions, and assisting with new business opportunities.
• Provide coverage and support for client needs during Account Executive absences.
• Participate in special projects and strategic initiatives as assigned by leadership.

Qualified Candidates Should Possess

• Bachelor's degree in Business, Actuarial Science, Finance, Economics, Mathematics, Risk Management, or a related field preferred.
• 2 - 3 years' of experience with data management.
• Carrier, brokerage, agency, or employee benefits consulting experience preferred.
• Experience reading, interpreting, and analyzing insurance carrier reports, claims data, and financial information.
• Working knowledge of Health Savings Accounts (HSAs), consumer-directed health plans, and employee benefits funding arrangements.
• Strong analytical and problem-solving skills with the ability to evaluate complex data and provide meaningful recommendations.
• Advanced proficiency in Microsoft Excel, including financial modeling, reporting, formulas, pivot tables, and data analysis.
• Strong working knowledge of Microsoft Outlook, Word, and PowerPoint.
• Exceptional organizational skills with the ability to manage multiple priorities and deadlines in a fast-paced environment.
• Excellent verbal and written communication skills with the ability to explain technical information in a clear and concise manner.
• Ability to establish strong working relationships with clients, carrier representatives, and internal stakeholders.
• High energy level with the ability to work effectively under pressure while balancing multiple projects and frequent interruptions.

BSI engages in an employee-first approach as part of our team-oriented and supportive culture. We offer a variety of benefits and perks, including:

• Comprehensive medical, dental, and vision benefits
• Employer-paid STD, LTD, and life insurance; voluntary supplemental life and AD&D insurance options provided
• Telemedicine and employee wellness program
• 401k plan with a generous company match
• Profit-sharing plan
• Tuition assistance and student loan repayment benefits
• Generous PTO plan and paid holidays (including your birthday!)
• Hybrid work model
• Free coffee/tea at the local coffee shop located near our office
• Healthy snacks in the office
• Summer Flex Fridays
• Fun, team-spirited work environment with company events, cultural activities, and team bonding