Benefits Specialist
Job Overview
The Benefits Specialist works as a liaison between employees and insurance carriers, producing communication materials, preparing enrollment packages, and participating in enrollment and information meetings. This position is responsible for gathering completed enrollment applications and submitting data to insurance carriers. The Benefits Specialist also updates and maintains internal records related to employee benefits. The Benefits Specialist is responsible for ensuring that employees are informed about available benefits and assisting them in making informed decisions about their benefits packages.
Organizational Impact
The job of a Benefits Specialist has a significant impact on the organization in the following ways:
1. Employee Retention: A Benefits Specialist plays a crucial role in designing and implementing employee benefits programs that attract and retain top talent. By offering competitive benefits packages, the organization can retain its employees and reduce turnover rates.
2. Employee Satisfaction: A Benefits Specialist ensures that employees are satisfied with their benefits packages. This can lead to increased employee morale, productivity, and engagement, which can positively impact the organization's bottom line.
3. Compliance: A Benefits Specialist ensures that the organization is compliant with all federal and state laws related to employee benefits. This can help the organization avoid costly fines and legal issues.
4. Cost Management: A Benefits Specialist is responsible for managing the costs associated with employee benefits. By negotiating with vendors and designing cost-effective benefits packages, the organization can save money and improve its financial performance.
5. Brand Image: A Benefits Specialist can help improve the organization's brand image by offering attractive benefits packages that reflect the organization's values and culture. This can help the organization attract top talent and improve its reputation in the industry.
Key Systems
- Human Resources Information System (HRIS)
- Benefits Administration System
- Payroll System
- Time and Attendance System
- Compliance and Regulatory System
Inputs
- Employee benefit plans and policies
- Government regulations and compliance requirements
- Employee data and records
- Budget and financial resources
- Communication and collaboration with HR team and management
Outputs
- Benefits enrollment and administration support for employees
- Coordination of employee benefits programs and communication with vendors
- Analysis and reporting of benefits utilization and costs
- Development and implementation of new benefits programs and policies
- Compliance with federal and state regulations related to employee benefits
Activities
- Respond to both routine & non-routine customer questions, problems and needs regarding enrollment, eligibility, administration, claims resolution, payroll deductions, etc.; provide employees with requested information, refunds, and assistance with complex and often very sensitive coverage problems; act as a liaison between employee and insurer on issues as needed
- Maintain HRIS and benefits administration system to facilitate eligibility for health and welfare benefit plans
- Assist with internal benefit plan communications and forms to ensure necessary and timely distribution occurs
- Develop, maintain and revise audit reports to maintain data integrity
- Coordinate COBRA administration with outsourced provider
- Monitor vendor interfaces and error reports to ensure accurate, timely information; coordinate with vendors to resolve issues
- Develop and implement new processes and procedures or training and guidelines to resolve issues, ensure systems data integrity, and to improve processes
- Advise Manager regarding activities and developments affecting employees and/or department
- Recommend improvements in benefits related processes, policies and procedures
- Assist with training and education of Human Resources staff on benefit administration topics
- Plan and execute annual Open Enrollment process
- Support completion of benefit projects
- Process workers’ compensation claims and maintains OSHA recordkeeping
- Provide group presentations on benefit information, present insurance and other benefit information in new employee orientations
- Perform all duties & tasks in compliance with legal & regulatory requirements; update/maintain benefit communications & processes as federal and state regulations change, including OSHA, workers compensation, employment or personnel law, FMLA, ADA, HIPAA Privacy, Section 125, and COBRA regulations
- Act as HIPAA privacy officer; serve a primary contact for employees on HIPAA privacy; maintain sensitive records to protect information from unauthorized access
- Reconcile benefit amounts (i.e., insurance, retirement & TSA deductions, etc.) each payday; monitor benefits using spreadsheets & reports; perform regular audits of employee benefit data to ensure members have proper coverage and remain eligible for benefits
- All other duties as assigned
Recommended Items
- Employee benefits enrollment process
- Benefits plan summaries and descriptions
- COBRA administration guidelines
- HIPAA compliance policies and procedures
- FMLA leave request and approval process
Content Examples
- Benefits plan documents and summaries
- Employee benefit enrollment forms and instructions
- Compliance reports and filings
- Benefit program communication materials
- Benefit program cost analysis and budget reports
Sample Event-Driven Tasks
- Update employee benefits information in HR system when new hires are onboarded
- Notify employees of upcoming open enrollment period and provide necessary information and resources
- Process benefit enrollment changes when employees experience qualifying life events such as marriage or birth of a child
- Conduct annual benefits review and analysis to ensure competitiveness and cost-effectiveness
- Assist employees with benefits-related questions and concerns, and escalate issues to appropriate parties as needed
Sample Scheduled Tasks
- Conduct open enrollment for employee benefits once a year
- Process new employee benefit enrollments and changes on a weekly basis
- Review and update benefit plan documents annually
- Coordinate with insurance providers to resolve employee benefit issues on a monthly basis
- Conduct regular audits of employee benefit plans to ensure compliance with regulations and company policies
Sample Infill Tasks
- Conducting research on employee benefits packages offered by competitors
- Analyzing data on employee utilization of benefits to identify areas for improvement
- Developing and delivering presentations on benefits options to employees
- Collaborating with HR and finance teams to ensure compliance with legal and regulatory requirements related to benefits
- Managing open enrollment processes and communicating changes to employees