What are the responsibilities and job description for the Self-Funded Benefits Technician position at Insurance Management Group?
Description
Insurance Management Group is an independent agency providing business insurance, personal insurance, and employee benefits solutions to clients nationwide. For three consecutive years, IMG has been recognized as a Best Place to Work in Indiana, a testament to our commitment to cultivating a workplace where employees thrive. We attract and retain top insurance talent by fostering a culture of collaboration, professional growth, and excellence.
POSITION DESCRIPTION:
IMG is seeking a highly dependable and motivated professional to join our team as a Self-Funded Benefits Technician. This role requires a strong background in data analytics, claims monitoring, and self-funded health insurance plans. The Self-Funded Technician will support our Producers by analyzing claims data, assessing risk profiles, optimizing plan designs, and suggesting cost-saving strategies for self-funded accounts.
Requirements
DAY IN THE LIFE OF:
- Collaborate closely with agents to provide expert guidance on self-funded accounts, offering strategic advice, data insights, and actionable recommendations to help them best serve clients.
- Analyze detailed claims data to identify trends, high-cost claims, and potential areas for improvement in self-funded health plans.
- Prepare and present detailed reports with actionable insights for agents, enabling them to effectively communicate findings and recommendations to clients.
- Evaluate a company's risk profile and recommend suitable stop-loss coverage levels based on identified risks.
- Assist in optimizing benefit plan designs by leveraging data insights to improve coverage while identifying lower-cost providers, networks, and services.
- Compare plan performance against industry benchmarks and recommend adjustments to enhance outcomes.
- Suggest cost-saving measures such as negotiating better rates with providers or identifying alternative treatments that maintain quality care.
- Oversee claims monitoring and ensure accuracy in reporting for self-funded accounts, addressing any discrepancies or issues.
- Build and maintain strong relationships with stop-loss carriers, partners, and TPAs, negotiating better deals to benefit clients.
- Support and train newer agents on self-funding concepts, available reports, and strategies for optimizing self-funded plans.
- Develop further efficiencies in the self-funded space to free up producers' time for new client acquisition.
KNOWLEDGE, SKILLS, AND ABILITIES:
- College education or equivalent experience in self-funded benefits, data analytics, or insurance
- Indiana Life and Health insurance license is required
- 3-5 years' experience in self-funded benefits with a focus on data analysis and risk management
- Strong analytical skills with the ability to interpret complex claims data and translate insights into actionable recommendations
- Experience with self-funded plans, stop-loss coverage, and cost containment strategies
- Proficient in Microsoft Office products, especially Excel (for data analysis and reporting)
- Ability to prepare and present detailed reports with clear, actionable insights for agents and clients
- Excellent communication skills, both oral and written, with the ability to explain complex issues to others and respond to inquiries effectively
- Strong organizational skills, with the ability to manage multiple tasks simultaneously and prioritize effectively
Benefits: Full Benefits Offering (Health, Dental, Vision, Life, LTD, STD, Critical Illness, and Accident), 10 Paid Holidays, PTO Package, 401k matching, 30-minutes of workout time, schedule flexibility, growth opportunities, and more!
We understand that not all candidates may not meet every requirement. If you’re close, don’t hesitate to apply—we’d love to connect with you!
