The Business
The Health & Benefits (‘H&B’) business provides strategy and design consulting, plan management service and support, broking and administration across the full spectrum of health, wellbeing and other group benefit programs, including medical, dental, disability, life, voluntary benefits and other coverage. Our reach extends from small/mid-market clients to large-market and multinational clients, across the full geographic footprint of the Company, and to most industries. We can address our clients’ needs in more than 160 countries.
The Role
DUTIES:
- Associate within Health & Benefits Line of Business with Willis Towers Watson US LLC in New York, NY,
- Work as part of a team on a wide variety of complex projects, focusing on valuing Pharmacy Benefit Manager (PBM) contracts and developing cost projections using complex data sets as well as other variables (trend, utilization, underlying definitions, and other terms).
- Partner with consultants and team members to review and perform financial analyses including cost savings and data analysis projections, create, review and update of pricing and other analytical models.
- Work with, manipulate and interpret data and use data to project future cost estimates and explain financials to clients.
- Analyze, compare and negotiate vendor products, services, contracts and pricing guarantees,
- Work with data files for ad hoc requests as well as to input into complex modeling tools.
- Make custom adjustments using data.
- Contribute to project plan creation and delivery; ensure progress against established objectives, budgets, timelines, deliverables and quality standards.
- Support the pharmacy practice on intellectual capital initiatives such as development of new financial models or tools as applicable
- Develop client analyses and other related documents for WTW clients and prospects including presentations and review of pharmacy contracts.
- Present and explain complex pharmacy benefit financial strategies such as PBM pricing models, adjudication and reconciliation logic, financial guarantee exclusion strategies and the impacts to financial results to internal partners and clients.
- Participate in financial strategy meetings with external partners.
- Salary range = $88,000.00 to $111,100.00 per annum.
The Requirements
REQUIREMENTS:
- Bachelor’s degree (U.S. or foreign equivalent) in Mathematics, Applied Mathematics or a related quantitative field.
- One (1) year of experience in a related benefits consulting role.
- Prior experience conducting health & welfare benefit strategy and design, benefit benchmarking, vendor management, and employee communications.
- Prior experience applying working knowledge of healthcare financials, including pricing/contribution theory, risk identification and Incurred but Not Reported (IBNR) claim reserves.
- Prior experience fielding client questions from client finance team and handling ad hoc reporting requests
- Prior experience conducting design/management of health and welfare plans gained in a consulting or brokerage environment or similar experience in a consultative role gained at a carrier or vendor.
- Prior project management experience, including developing project plans and ensuring progress against established goals, timelines and quality standards.
- Prior experience assessing the impact of regulatory changes on employee benefits and educating clients on local, state and federal compliance requirements.