Job Summary:
The Insurance Product Administrator is responsible for building and managing various health plans like MECs, fully insured, level-funded and self-funded. The ideal candidate will ensure compliance with federal and state regulations, maintain plan documentation, and oversee participant communications. This role requires strong organizational skills and in-depth knowledge of health product design and service.
Key Responsibilities:
- Oversee the administration of MEC, fully insured, level-funded and self-funded health plans.
- Ensure compliance with ACA, ERISA, and other applicable regulations.
- Manage plan documentation, participant communications, and annual filings (SPDs, 5500s).
- Collaborate with other departments to ensure seamless plan operations.
- Handle escalated participant issues and complex cases.
- Oversee the administration of MEC, fully-insured, level-funded, and self-funded health plans.
- Analyze carrier data on complex clients and provide recommendations to account teams to help with the negotiation of rates and funding levels
- Analyze and recommend optimal funding arrangements
- Assist in marketing, analysis and placement of stop loss coverages
- Price plan design and product alternatives
- Assist in reviewing contracts, preparing RFP specifications, and identifying markets for proposals
- Assist in the workflow for monthly and quarterly financial reporting for clients
- Assist in negotiating rates with insurance carriers and other vendors
- Provide technical expertise, product updates, and training programs
- Follow industry development, changes, and legislative updates within all types plan administration methodology
- Conduct special projects as needed
Qualifications:
- Bachelor's degree in Business Administration, Health Management, or a related field.
- Health and Life Insurance licensing required
- 5+ years of experience in health plan administration, preferably with MEC or self-funded plans.
- Strong knowledge of ACA and ERISA regulations.
- Excellent communication and organizational skills.
What We Offer
- Competitive salary and benefits package
- Dynamic and innovative work environment
- Opportunities for professional growth and development
- Remote work flexibility