Insurance Product Administrator

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Job description

Job Summary:

The Insurance Product Administrator is vital to managing and optimizing various health plans, including MECs, fully insured, level-funded, and self-funded options. The ideal candidate will ensure compliance with federal and state regulations, maintain plan documentation, and oversee participant communications while driving continuous improvements in service delivery.

The managed desires this person to be onsite 2-3 times per week in a best-case scenario. However, he is open to 100% remote.

Key Responsibilities:

Administer MEC, fully insured, level-funded, and self-funded health plans.

Ensure compliance with ACA, ERISA, and other relevant regulations.

Manage plan documentation, participant communications, and annual filings (SPDs, 5500s).

Collaborate with cross-functional teams to ensure smooth plan operations.

Address escalated participant issues and complex cases effectively.

Analyze carrier data for complex clients and provide recommendations to account teams for rate negotiations and funding levels.

Recommend optimal funding arrangements and assist in the marketing and placement of stop-loss coverages.

Price plan designs and explore product alternatives.

Review contracts, prepare RFP specifications, and identify suitable markets for proposals.

Assist with monthly and quarterly financial reporting workflows for clients.

Negotiate rates with insurance carriers and vendors.

Provide technical expertise, product updates, and training programs.

Stay updated on industry developments and legislative changes impacting plan administration.

Conduct special projects as required.

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.

A dynamic and innovative work environment.

Opportunities for professional growth and development.

Remote work flexibility.

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