Specialty Benefits Analyst - Stop Loss (Remote)
Job Description
Resp & Qualifications
PURPOSE:
The Analyst, Specialty Market supports CareFirsts sales activities by creating Stop Loss insurance proposals for both new sales and renewal group business. Utilizes knowledge of stop-loss, self-funding arrangements and benefit plans, to analyze Stop Loss market information and trends to ensure Stop Loss proposals are comprehensive and competitive to meet client needs.
ESSENTIAL FUNCTIONS:
- Works with external stop-loss vendors to secure quotes for new TPA and CareFirst business. Analyzes census data, shock reports and claims history for current TPA and CareFirst groups to evaluate current Stop Loss coverage and develop proposal for the group renewal. Analyzes quotes from insurance carriers, and ensures that quoted groups receive appropriate and competitive coverage based on group needs and industry trends.
- Consults with insurance carriers to understand differences between requested and provided quotes, clarifies group needs and ensures carriers provide competitive quotes with appropriate coverage levels. Analyzes quote term differences, makes recommendations and creates Stop Loss proposals in collaboration with the appropriate TPA and CareFirst sales teams. Accurately enters all stop loss quote and proposal information into Salesforce and ensures correct stop loss illustration is sent to brokers and/or groups.
- Creates and maintains the accuracy of Stop Loss content for documents and collateral provided to internal and external customers. Ensures the accuracy of current information, and updates with new marketing information as insurance trends change. Develops and maintains internal documents and reports as needed including Salesforce reporting and Standard Operating Procedures (SOP's). Ensures the accuracy of schedules of insurance, policies, and contracts with attention to detail and thorough understanding of contingencies.
- Builds and maintains favorable relationships with CareFirst sales and TPA Account Management staff and proactively reaches out to account management team for upcoming group renewal information. Tracks and manages receipt of signed rates prior to effective date of coverage and ensures the information is provided to the Finance teams. Reviews stop loss cases with management/Sr. Analyst as appropriate and ensures that proposed proposal recommendations meet client needs.
QUALIFICATIONS:
Education Level: Bachelor's Degree OR in lieu of a Bachelor's degree, an additional 4 years of relevant work experience is required in addition to the required work experience.
Experience: 3 years experience in the health insurance/healthcare industry, with knowledge of benefit products and self-funded rating arrangements.
Preferred Qualifications
- Previous experience in a business analyst capacity for a health care organization.
- Previous experience working with stop loss.
- Previous experience in the self-funded market.
Knowledge, Skills and Abilities (KSAs)
- Must have the ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
- Ability to run reports, business correspondence, and procedure manuals.
- Ability to successfully manage multiple projects, tasks and priorities.
- Ability to be thorough while maintaining efficiency and accuracy.
- Demonstrated knowledge and understanding of stop loss.
- Ability to analyze essential facts, make timely and sound decisions, make recommendations and resolve performance and job-related issues.
- Demonstrated desire to share knowledge and work as a team.
Salary Range: $53,352 - $105,963
Salary Range Disclaimer
The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the work is being performed. This compensation range is specific and considers factors such as (but not limited to) the scope and responsibilities of the position, the candidate's work experience, education/training, internal peer equity, and market and business consideration. It is not typical for an individual to be hired at the top of the range, as compensation decisions depend on each case's facts and circumstances, including but not limited to experience, internal equity, and location. In addition to your compensation, CareFirst offers a comprehensive benefits package, various incentive programs/plans, and 401k contribution programs/plans (all benefits/incentives are subject to eligibility requirements).
Equal Employment Opportunity
CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.
Federal Disc/Physical Demand
Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.
Physical Demands:
The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.
Sponsorship in US
Must be eligible to work in the U.S. without Sponsorship.
#LI-LJ1
Resp & Qualifications
PURPOSE:
The Analyst, Specialty Market supports CareFirsts sales activities by creating Stop Loss insurance proposals for both new sales and renewal group business. Utilizes knowledge of stop-loss, self-funding arrangements and benefit plans, to analyze Stop Loss market information and trends to ensure Stop Loss proposals are comprehensive and competitive to meet client needs.
ESSENTIAL FUNCTIONS:
- Works with external stop-loss vendors to secure quotes for new TPA and CareFirst business. Analyzes census data, shock reports and claims history for current TPA and CareFirst groups to evaluate current Stop Loss coverage and develop proposal for the group renewal. Analyzes quotes from insurance carriers, and ensures that quoted groups receive appropriate and competitive coverage based on group needs and industry trends.
- Consults with insurance carriers to understand differences between requested and provided quotes, clarifies group needs and ensures carriers provide competitive quotes with appropriate coverage levels. Analyzes quote term differences, makes recommendations and creates Stop Loss proposals in collaboration with the appropriate TPA and CareFirst sales teams. Accurately enters all stop loss quote and proposal information into Salesforce and ensures correct stop loss illustration is sent to brokers and/or groups.
- Creates and maintains the accuracy of Stop Loss content for documents and collateral provided to internal and external customers. Ensures the accuracy of current information, and updates with new marketing information as insurance trends change. Develops and maintains internal documents and reports as needed including Salesforce reporting and Standard Operating Procedures (SOP's). Ensures the accuracy of schedules of insurance, policies, and contracts with attention to detail and thorough understanding of contingencies.
- Builds and maintains favorable relationships with CareFirst sales and TPA Account Management staff and proactively reaches out to account management team for upcoming group renewal information. Tracks and manages receipt of signed rates prior to effective date of coverage and ensures the information is provided to the Finance teams. Reviews stop loss cases with management/Sr. Analyst as appropriate and ensures that proposed proposal recommendations meet client needs.
QUALIFICATIONS:
Education Level: Bachelor's Degree OR in lieu of a Bachelor's degree, an additional 4 years of relevant work experience is required in addition to the required work experience.
Experience: 3 years experience in the health insurance/healthcare industry, with knowledge of benefit products and self-funded rating arrangements.
Preferred Qualifications
- Previous experience in a business analyst capacity for a health care organization.
- Previous experience working with stop loss.
- Previous experience in the self-funded market.
Knowledge, Skills and Abilities (KSAs)
- Must have the ability to read, analyze, and interpret general business periodicals, professional journals, technical procedures, or governmental regulations.
- Ability to run reports, business correspondence, and procedure manuals.
- Ability to successfully manage multiple projects, tasks and priorities.
- Ability to be thorough while maintaining efficiency and accuracy.
- Demonstrated knowledge and understanding of stop loss.
- Ability to analyze essential facts, make timely and sound decisions, make recommendations and resolve performance and job-related issues.
- Demonstrated desire to share knowledge and work as a team.
Salary Range: $53,352 - $105,963
Salary Range Disclaimer
The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the work is being performed. This compensation range is specific and considers factors such as (but not limited to) the scope and responsibilities of the position, the candidate's work experience, education/training, internal peer equity, and market and business consideration. It is not typical for an individual to be hired at the top of the range, as compensation decisions depend on each case's facts and circumstances, including but not limited to experience, internal equity, and location. In addition to your compensation, CareFirst offers a comprehensive benefits package, various incentive programs/plans, and 401k contribution programs/plans (all benefits/incentives are subject to eligibility requirements).
Equal Employment Opportunity
CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of the Company to provide equal employment opportunities to all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.
Federal Disc/Physical Demand
Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.
Physical Demands:
The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.
Sponsorship in US
Must be eligible to work in the U.S. without Sponsorship.
#LI-LJ1
About CareFirst BlueCross BlueShield
Named by the Ethisphere Institute as one of the “World’s Most Ethical Companies” for 10 consecutive years.
CareFirst. It’s not just our name. It’s our promise. Over 3.5 million people trust us with their healthcare needs, and we take this responsibility seriously.
Our vision for healthcare is clear. Quality care should be easy to afford, easy to use and available to everyone. And what we’re building for you is exactly what we expect for ourselves and those we love.
Every day, we make a meaningful difference in the communities where we live and work. We solve real problems for the people we serve with equal parts empathy and urgency—simplifying the complex, delivering tailored solutions and stepping forward with new ideas.
RECRUITMENT FRAUD NOTICE: CareFirst is aware of an increase in fraudulent job offers being made on behalf of our recruitment team. Legitimate CareFirst recruiters will always contact you from an email address ending in “@carefirst.com” and will never ask for a payment in exchange for a job opportunity or ask you to submit sensitive personal information via email, phone, or text.
COVID-19 VACCINATION NOTICE: As a leading healthcare organization, it is our responsibility to do our part to help end this pandemic and protect the health and well-being of our members, workforce, communities, businesses and partners. Our recruiters continue to fill open positions. Interviews and other processes are being modified to protect the safety of our candidates and team members. Effective November 1, 2021, COVID-19 full vaccination is required for all employees, including those who work remotely today or in the future. CareFirst will comply with all state and local laws regarding vaccine mandates. Medical and religious exemptions will be made where appropriate using our standard vaccine exemption processes.
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