Job Description
SynchronyHR, an Engage Company, is seeking a Benefits Underwriter/Consultant to join its team. The Benefits Underwriter/Consultant serves as an employee benefits subject matter expert and strategic resource for SynchronyHR (SHR) teams, clients, prospects, and external partners (such as carriers, insurance advisors, and brokers). This role focuses on risk assessment and new business quoting for SHR’s master group insurance plans. Key responsibilities include assessing risk for the master medical program, completing underwriting analyses, and managing the proposal generation process for all group insurance plans. Additionally, the Benefits Underwriter/Consultant plays a crucial role within the Benefits team, supporting education, communication, and consultation on benefit solutions for brokers, clients, prospects, and SHR team members.
Essential Duties and Responsibilities
- Responsible for executing internal SHR requests for master health plans insurance underwriting.
- Interact with SHR Sales to assure compliance with insurance carrier underwriting, guidelines and group eligibility requirements. Identify master plan availability.
- Review prospect documentation submitted by Sales team for consideration by master plan. Initiate outbound communication of incomplete paperwork and any corrections needed during the submission process.
- Facilitate health submissions to external underwriting teams or external insurance advisor.
- Negotiate with health insurance carrier underwriters to secure the most comprehensive and competitive quotation terms, conditions and pricing.
- Monitor and communicate plans and rates from underwriting teams/external insurance advisor.
- Perform underwriting of SHR master ancillary and supplemental insurance carrier products according to guidelines (e.g., MetLife, others).
- Produce business case analysis and prospect benefits proposal for delivery by SHR BDM.
- Review sold client information and pricing details, to ensure the accuracy of data transference between Sales and Benefit Operations.
- Review, analyze and collaborate with team to process new client Benefits Cost Master to ensure conformity with contractual and benefits submission requirements. Secure client agreement and client sign-off of benefits sold.
- Liaison as needed with Sales, Implementation, Operations and external clients to support the overall Benefit Implementation process.
- Escalate to appropriate parties when a timeframe cannot be met regarding the client experience and deliverables.
- Provide product and industry technical support and expertise
- Maintain a full understanding of the insurance markets, funding alternatives, networks, benefit plan options and administrative issues. Serve as resource to SHR team members and prospects, clients and brokers as appropriate.
- Remain fully knowledgeable on compliance issues governed by legislation and regulations impacting employer sponsored health and welfare plans including but not limited to HIPAA, ERISA, COBRA, tax advantaged plans and PPACA.
- Liaison across technical and operational areas to troubleshoot issues related to new business support tools.
- Update, test and maintain appropriate sales, marketing and underwriting databases and software to ensure data integrity and compliance with SHR needs.
JOB REQUIREMENTS AND QUALIFICATIONS
Required Skills/Abilities :
- Excellent verbal and written communication skills.
- Excellent organizational skills and attention to detail.
- Ability to build collaborative relationships both with internal and external clients/stakeholders.
- Proficiency with HRIS systems required.
- Proficient with Microsoft Office Suite or related software required.
- Ability to adapt to a fast paced continually changing business and work environment while managing multiple priorities.
Education and Experience :
- At least five (5) years prior relevant experience, with at two (2) years in similar benefits role required.
- Experience with a PEO or an HR outsourcing provider required.
- In-depth knowledge of health and ancillary group insurance products and benefit plan designs required.
- Experience with PrismHR and Client Space preferred.
- Experience at insurance carrier, general agency or benefits brokerage, preferred.
- Associate's degree or any other combination of education and/or years of experience equivalent required; Bachelor's degree preferred.
- Life & health insurance license required or obtained within 6 months of employment.
Physical Requirements :
- Prolonged periods of sitting at a desk and working on a computer.
- Must be able to lift 15 pounds at times.
Travel
- Quarterly travel to corporate headquarters required
- Normal business hours are 8:00 AM – 4:30 PM CST
Hours of Work
- Normal business hours are 8:00 AM – 4:30 PM CST
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