Plan Analyst - Marsh & McLennan Agency - Troy, Michigan
Location: Troy, Michigan, United States
Company: Marsh & McLennan AgencyJob ID R_041369-en Apply
You spend more time working than virtually anything else. Isn’t your time worth more than just a paycheck? If so, Marsh & McLennan Agency (MMA) located in Troy, MI may be the place for you. As an MMA colleague, you’ll get personal and professional development, a driven and entrepreneurial team-oriented environment, and leaders at all levels who are committed to maintaining high levels of colleague engagement. Our talented colleagues work hard to make a difference in the moments that matter for our clients, communities and each other. Discover how much is possible as you grow or advance your career.
Our office in Troy serves the group benefit needs of organizations headquartered in Michigan that employ between 100 and 10,000 workers. We provide innovative and individually tailored cost reduction strategies and tactics in all of the functional elements of group benefit plans. The Plan Analyst (PA) is responsible for obtaining and analyzing group benefit program proposals for both clients and prospects. The Plan Analyst analyzes bids for group health and welfare coverage for clients, provides benchmarking research and analysis, and develops detailed client reports. The PA provides substantial financial analysis for 8-12 clients on average. The PA works on moderate to high complexity cases, demonstrating a high level of accuracy within their work product. This position spends approximately 90% of their time in Excel.
- Provides support in obtaining the most competitive proposals in the marketplace, financial reporting and carrier / vendor evaluation.
- Constructs detailed client / prospect reports, with specific direction and guidance from the Vice President.
- Demonstrates the ability to construct files / work product so others can follow logic to determine how the numbers were developed and ascertain which assumptions were used.
- Develops and maintains a solid understanding of Excel, Word, PowerPoint, Access and other tools and methods provided by the company to effectively complete work product.
- Answers client's questions both orally and in writing. Communicates effectively both internally and externally on matters related to client work product, work in progress, market information and other projects as assigned.
- Builds relationships with carriers to help expedite information processing. Illustrating knowledge of carrier plans, with a primary focus on area-rated, fully-insured and self-funded medical and ancillary benefits.
- Understands various benchmarking sources and uses this knowledge to determine the most beneficial source for a particular client.
- Maintains complete and accurate client files utilizing company filing standards.
- Researches industry topics to develop an understanding of technical industry trends and changes to the health care / employee benefits delivery system. Begins to share templates and ideas within the PA department.
- Works jointly with the VP/SVP(s) in the development of flow pages (summary of key points in the client study), executive summaries, letters and e-mails.
- Gathers the most accurate data available and summarizes it in a usable, error-free format for the final presentation. The PA is expected to develop a final work product that is clear, concise and accurate in a format that is easily read and understand.
- A PA should have or work toward developing a high level of knowledge of various group products and have a strong technical ability to illustrate the advantages / disadvantages of a specific group product to a client. 13. Participates in the Plan Analyst team meetings to share information and gather information from other Plan Analysts.
KNOWLEDGE, SKILLS & ABILITIES
- Bachelor's degree in finance, mathematics or other related area preferred.
- Minimum of 3-5 years’ experience in the healthcare benefits industry working for a group, insurance carrier, broker or general agency preferred.
- Knowledge of group insurance (medical, dental, vision & life and disability products) preferred.
- Must possess strong analytical and problem solving skills.
- Excellent communication and writing skills.
- Must be able to follow directions, be detailed, organized and resourceful.
- Ability to work under extreme pressure (tight deadlines & juggling many projects)
- Proficient in MS Word, Excel and PowerPoint.
Marsh & McLennan Agency (MMA) firmly believes it is the character and commitment of our people that make a difference in the moments that matter. We are always seeking those with ethics, talent, and ambition who are interested in joining our client-focused teams. More than just insurance brokers, we believe that a business culture that supports a healthy, safe work environment does so by offering the right benefits, programs, policies and opportunities to keep employees engaged and productive.
If you are a committed professional with a passion for delivering excellent service, we are interested in hearing from you.