EMPLOYEE BENEFITS FINANCIAL ANALYST

Job Title

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Job Description

Assists the Benefits Manager in reviewing, auditing, validating, reconciling and developing financial status of benefits program areas such as retiree insurance premium payments, annual insurance rates, third party insurance claims and annual budgeting. Monitor General Ledger (GL) for H05 company balance - analyze for comparison against the Actuarial Reserve recommendations. Assist with H04 company balances as necessary. Monitor Lock box for incoming H05 receivables, verify accuracy of posting to the GL. May compute, collect and report complex statistical data for an array of comprehensive benefit plan options and provide financial metrics and cost analyses as related to the MCCS Employee Benefits Program. Assists with daily administration of benefits and managing benefits vendors and providers.

Independently gathers information from a wide variety of sources to determine entitlement to medical, dental, life insurance, group retirement, and the 401(k) plan for employees and retirees. Verifies employee eligibility for the various Human Resources programs. Validates claims payments for medical, dental and life insurance. Verifies and processes personnel/payroll information for data entry from Nonappropriated Fund Instrumentalities (NAFI)s whose payroll is not processed through the automated payroll system. Coordinates with Defense Finance Accounting System (DFAS) and National Finance Center as appropriate.

Maintains audits and validates monthly retiree insurance premium payments via premium statement and vendor payments. Coordinates with Business and Support Services Resource Management Branch to reconcile and maintain accuracy of Human Resources accounts as needed, to include H04.

Processes annual renewal of life insurance continuations under the waiver of premium provision. Process death claims for life insurance. Draft and distribute correspondence to retirees regarding the status of their insurance premiums, as appropriate. Calculates actual retirements and continuation of insurance for retirees, when applicable. Computes retirement annuity estimates. Processes cash refunds from the retirement plan. Processes /validates retiree annuity reduction and applicable correspondences. Processes deferred retirement annuities. Calculates all eligible requests to buy back prior NAFI service for retirement purposes when applicable.

Computes and processes NAF and Appropriated Fund (APF) pension plan military service credit retirement buy backs. Computes and processes monthly retirement plan deposits. Computes and process monthly payments to third party administrators for medical/dental/life insurance. Computes and process monthly payments to a variety of Health Maintenance Organizations. Coordinates with Resource Management Branch to reconcile command administrative fees.

Reviews and validates available automated accounting system resources to include but not limited to general ledger accounts for Employee Benefits, Composite Insurance, Human Resources regarding payables, receivables and balances as appropriate on daily, weekly and monthly basis. Acts as a budget expert to collaborate directly with Branch Head and program managers on development of annual Human Resources Branch budgets. Coordinates annual branch budget submissions to the Resource Management Branch.

Processes and audits all medical secondary payer claims for medical participants. Coordinates with the Center for Medicare Services (CMS). Maintains all records pertaining to enrollment in any and all medical, dental, life insurance, retirement, long-term care and 401 (k) plans. Audits enrollment forms for content and completeness. Coordinates with the Employee Benefits Program Manager (and designees) on computation of annual insurance rates for all plans for employees and employers. Develops premium rate sheets for all employee benefit plans. Negotiates annual renewals with HMOs. Acts as liaison between HMOs and field activities.

Maintains files. Provides individual and group training on the above areas to field command representatives as required. Provides back up and/or assistance for any of the above duties. Checks and reviews information provided to personnel offices at field commands for accuracy and completeness.

Provides World Class Customer Service with an emphasis on courtesy. Assists customers and communicates positively in a friendly manner. Takes action to solve problems quickly. Alerts the higher-level supervisor, or proper point of contact for help when problems arise. Adheres to safety regulations and standards. Promptly reports any observed workplace hazards, and any injury, occupational illness, and/or property damage resulting from workplace mishaps to the immediate supervisor. Adheres to established standards of actively supporting the principles of the EEO program and prevention of sexual harassment. This is a white-collar position where occasional lifting up to 20 lbs. may be required. Performs other related duties as assigned.