Stop Loss Consultant

Stop Loss Consultant

Marsh McLennan Agency's East Region is a leader in the employee benefits marketplace. Our associates simplify employee health and welfare benefits and risk management for regional, national, Fortune 500 and Fortune 1000 companies. We value integrity, collaboration, passion, innovation, and accountability, and we are committed to making a difference in the moments that matter for our colleagues, clients, and communities.

The Stop Loss Consultant is tasked with supporting and promoting the growth of the Stop Loss Center of Excellence. The primary responsibility is to work with the Account and Underwriting Teams, exercising discretion and independent judgment, providing financial analysis and utilizing modeling tools to evaluate benefit programs and their impact on overall business objectives, including the management and control of client risks and losses.

Essential duties and responsibilities include, but are not limited, to the following :

• Partner with carriers and internal teams to build and maintain schedules for client renewal and data collection to ensure consistent and timely receipt;
• Perform underwriting, financial, and risk analysis support for internal teams and their respective consulting clients;
• Responsible for clients' benefits marketing process, such as : data acquisition, request for proposal (RFP) preparation, vendor question resolution, proposal review and analysis, and client exhibit and presentation preparation;
• Perform the analysis and negotiation of rates and plan options with insurers on behalf of clients to secure optimal, cost-competitive benefit plans;
• Validate renewals and proposals for accuracy;
• Work closely with MMA Agency contacts to help intake Stop Loss process but to also educate Agency on self-funding, stop loss and captives as appropriate.
• Coordinate with team member to understand Stop Loss RFP status and overall panel block positions;
• Update Leadership on identified trends in stop loss market including tracking DTQ rate, overall renewal positions and contractual concerns to be addressed as part of ongoing panel management conversations;
• Support MMA stop loss captives quoting process;
• Review RFP / Renewal results as requested by MMA East or local MMA Agency;
• Help support Stop Loss claims tracking process;
• Help compile the results of the annual Request for Information process of potential Stop Loss Panel participants to determine panel selection recommendations as well as suggested changes to overall agreement to obtain optimal concessions for the Center of Excellence;
• Experience and knowledge of other lines of coverage, such as Dental, Vision, Health Savings Accounts, Flexible Spending Accounts and COBRA Administration to build out a Center of Excellence Model including creation of detailed RFIs to complete market evaluation;
• Help review and provide best practice recommendations on current MMA East models and outputs including financial analysis, qualitative and quantitative analysis, disruption and discount analysis as needed for other lines of coverage;
• Maintain quality service standards and organization to assure timely service to MMA East and MMA Agency teams;
• Remain abreast of the dynamic, competitive insurance environment, new and complex insurance initiatives, appropriate data analysis techniques and constantly changing legislation that governs business;
• Support other initiatives of the Strategic Initiatives Division and Underwriting Team as needed.

Required education and experience :

Knowledge, skills and abilities :

The applicable base salary range for this role is $81,700 to $130,400. The base pay offered will be determined on factors such as experience, skills, training, location, certifications, and education. Decisions will be determined on a case-by-case basis. In addition to the base salary, this position may be eligible for performance-based incentives. We are excited to offer a competitive total rewards package which includes health and welfare benefits, tuition assistance, 401K savings and other retirement programs as well as employee assistance programs.

Marsh McLennan is committed to embracing a diverse, inclusive and flexible work environment. We aim to attract and retain the best people and embrace diversity of age background, disability, ethnic origin, gender orientation or expression, marital status, nationality, parental status, personal or social status, political affiliation, race, religion and beliefs, sex / gender, sexual orientation or expression, skin color, veteran status (including protected veterans), or any other characteristic protected by applicable law. If you have a need that requires accommodation, please let us know by contacting reasonableaccommodations@mmc.com.