What are the responsibilities and job description for the Benefits Financial Analyst position at Commonwealth of Kentucky?
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7/29/2024 (8:00 PM EDT)
24-04438
Benefits Financial Analyst
Pay Grade
15
Salary
$3,733.60 - $5,600.40 Monthly
Employment Type
EXECUTIVE BRANCH | FULL TIME | ELIGIBLE FOR OVERTIME PAY | 18A | 37.5 HR/WK
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Hiring Agency
Personnel Cabinet | Department of Employee Insurance
Location
501 High Street, 2nd Floor
Frankfort, KY 40601 USA
The agency may authorize the selected applicant to telecommute on a hybrid schedule. The agency may terminate or modify the telecommuting arrangement at any time.
Frankfort, KY 40601 USA
The agency may authorize the selected applicant to telecommute on a hybrid schedule. The agency may terminate or modify the telecommuting arrangement at any time.
Description
The Personnel Cabinet offers the great opportunity to work with and serve state agencies, employees, and citizens across the Commonwealth. The Personnel Cabinet’s mission is to provide leadership and guidance to attract, develop, motivate, and retain a talented, diverse workforce; foster an understanding of and adherence to regulatory requirements; and create a positive, supportive work environment that values all employees. The Department of Employee Insurance (DEI) administers an approximate $1.8 billion, self-funded, health insurance program along with optional life, dental and vision insurances, and flexible spending accounts for nearly 300,000 public employees and their dependents.
The Benefits Financial Analyst position will reside within the Premium Billing Branch. The Premium Billing Branch (PBB) is within the Department of Employee Insurance and is responsible for the administration of premium billing and reconciliation of benefit plans administered by the Personnel Cabinet. Responsible benefit plans include health and optional insurances, flexible spending accounts, health reimbursement accounts and administrative fees for agencies that participate with the DEI and the Kentucky Employees Health Plan including state agencies, boards of education, health departments, retirement systems and governmental quasi agencies.
Primary responsibilities may include, but are not limited to:
The Benefits Financial Analyst position will reside within the Premium Billing Branch. The Premium Billing Branch (PBB) is within the Department of Employee Insurance and is responsible for the administration of premium billing and reconciliation of benefit plans administered by the Personnel Cabinet. Responsible benefit plans include health and optional insurances, flexible spending accounts, health reimbursement accounts and administrative fees for agencies that participate with the DEI and the Kentucky Employees Health Plan including state agencies, boards of education, health departments, retirement systems and governmental quasi agencies.
Primary responsibilities may include, but are not limited to:
- Conducts specialized reconciliation of premium billing for health insurance, optional insurance, flexible spending accounts and administrative fees and monitoring of agency and member accounts.
- Responds to and researches specialized inquiries from state agencies, insurance vendors and public employees regarding benefit programs.
- Generates and/or analyzes out of balance reports for health insurance, optional insurance, flexible spending accounts and administrative fees.
- Generates and/or analyzes 30/60-day arrears correspondence based off account status in Kentucky Human Resource Information System (KHRIS) and distribute to agency billing contacts and employees.
- Performs a variety of specialized billing adjustments and functions in KHRIS.
- Processes incoming mail and deposits of premium payments.
- Advanced skills with standard reporting and analytic Microsoft Office products such as Excel and Access.
- Experience in banking or financial reconciliation.
- Experience with health insurance, optional insurances, and FSA/HRA enrollment and financial administration.
- Experience working with KHRIS, insurance and/or billing and collections systems.
- Exceptional attention to detail and accuracy.
- Excellent communication skills, both written and verbal.
- Works well as part of a team.
- A 37.50-hour work week
- Paid time off (sick and vacation) and paid holidays
- Training and career development opportunities
- A variety of affordable health, dental and vision insurance options, as well as flexible spending accounts
- Life insurance
- Retirement
- Optional deferred compensation program (pre- and post-tax options - 401K, 457b and IRA)
- Wellness incentive programs
- Employee discounts on electronics, health and wellness, retail, travel/events/entertainment, and services/education
Minimum Requirements
EDUCATION: Graduate of a college or university with a bachelor's degree.
EXPERIENCE, TRAINING, OR SKILLS: Three years of experience in human resource (HR) administration, the administration of employee benefit programs or similar employee assistance programs, life or health insurance administration or sales, the reconciliation of financial or benefit accounts or financial transactions, statistical analysis, accounting, auditing, planning, bookkeeping, banking, business administration, public administration or a related field.
Substitute EDUCATION for EXPERIENCE: Master's degree will substitute for the required experience on a year-for-year basis.
Substitute EXPERIENCE for EDUCATION: Additional experience in the above areas will substitute for the required education on a year-for-year basis. Current certification as a Certified Medical Office Manager (CMOM), Certified Accounts Payable Professional (CAPP). Certified Credit and Risk Analyst (CCRA), Accounts Receivable Specialist (ARS), or Accounts Receivable Manager (ARM) will substitute for up to two years of the required experience.
SPECIAL REQUIREMENTS (AGE, LICENSURE, REGULATION, ETC.): NONE
Working Conditions
Work is typically performed in an office setting.
Probationary Period
This job has an initial and promotional probationary period of 6 months, except as provided in KRS 18A.111.
If you have questions about this advertisement, please contact Hannah Stanfield at HannahJ.Stanfield@ky.gov.
An Equal Opportunity Employer M/F/D
Salary : $3,734 - $5,600
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