HEALTH AND BENEFITS ANALYST
The Health Analyst will provide accurate and timely data and financial analysis on various projects for medical, dental, life and disability programs. To fulfill this role, the Health Analyst will:
- Perform basic cost projections by entering the client's cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year
- Analyze vendor renewals by checking carrier or vendor's plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges
- Price medical and prescription drug plan designs by entering plan design information into Mercer's internal pricing model to develop the relative cost differences between plan designs, in order to compare the client's current plan to alternative designs
- Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client
- Gain an understanding of basic project management and consulting skills including: managing the quality and timeliness of client deliverables, helping to develop budgets and billing reports, participating in client calls and meetings as appropriate and assisting with the preparation of clear and concise client-friendly communications
- Gain an understanding of the following, through online training, group sessions, or one-on-one training with others in a more senior role: Health and Benefits products, services and technical tools offered by Mercer, vendor/carrier markets, basic underwriting skills, budget-setting, rate-setting and evaluation.
The Health Analyst may:
- Perform pricing and evaluation of consumerism plans using Mercer's internal pricing model to compare designs where consumers have a greater ownership in costs
- Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client's vendor reports or raw data from external databases
- Perform analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts
- Gather necessary data from the vendor or client; review to ensure it is complete, accurate and reasonable; and prepare data in a particular template or format for use in basic or advanced financial analyses.
- Strong organizational skills
- Strong oral and written communication skills
- Ability to handle multiple tasks in a demanding fast-paced work environment
- Ability to work in a team environment where the priorities and requirements may change quickly
- Proficiency with Microsoft Office (Excel, Word, Powerpoint)
- Detail-oriented, strong mathematical skills
- Familiarity or experience with group insurance benefits would be an asset (through work experience, CEBS GBA designation or working towards it)
- Will be required to obtain and maintain appropriate licenses as required by provincial regulations and Mercer policies
Mercer delivers advice and technology-driven solutions that help organizations meet the health, wealth and career needs of a changing workforce. Mercer’s more than 22,000 employees are based in 44 countries and the firm operates in over 130 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), the leading global professional services firm in the areas of risk, strategy and people. With more than 60,000 colleagues and annual revenue over $13 billion, through its market-leading companies including Marsh, Guy Carpenter and Oliver Wyman, Marsh & McLennan helps clients navigate an increasingly dynamic and complex environment. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.