Consultant, Health & Welfare

Job Description:

The Team

Our health and welfare consulting team at Fidelity provides a unique experience for candidates looking for an opportunity to grow their consulting career. Our value proposition to associates is centered on three important qualities:

1) We are passionate about the clients’ needs. Our work is oriented to problem solving and not defined by products we can upsell to our clients. Simply put, we always do what is best for our clients.

2) We offer a flat work environment. All members of our team work with our most senior leaders daily, giving you an opportunity to learn from industry leaders with 20+ years of experience in H&W consulting.

3) Client exposure. We believe it is important for our associates to start working directly with our clients early in their careers to develop strong relationship skills. As such, we provide opportunities for all consultants to gain valuable client exposure and help us build lasting client relationships.

The Role

As a Health and Welfare Benefits Consultant, you will manage projects and client relationships spanning a variety of topics including, but not limited to: plan design, compliance and reporting services, health plan underwriting and employee contribution setting, health and well-being management, and retiree health care solutions. You'll lead consulting projects, mentor other associates, and promote teamwork. Important skills for this role include:

• Analyzing and presenting data vital to client benefit programs
• Managing benefit plan renewal processes, including project management, vendor coordination, qualitative and quantitative analysis, negotiations, and documentation of results
• Developing H&W program pricing, budgets, forecasting, employee contributions and premium equivalent rates for self-insured benefit plans (adhering to actuarial standards of practices)
• Developing reserve estimates for self-funded benefit plans
• Supporting the development of actuarial assumptions and per-capita claims cost calculations for OPEB (ASC 715) actuarial valuations
• Assist in development of long- and short-term employee benefits strategy
• Evaluating survey responses and benchmarking data related to employee benefit programs
• Negotiation of rates, contractual provisions, and performance guarantees with current benefit vendors
• Manage marketing analysis including RFP creation, proposal collection, and vendor comparisons
• Assist with vendor selection, performance criteria with the management of new vendors and exiting vendors during implementation process
• Monitoring the market to remain current regarding the major health plans, administrators, and other vendors available in the marketplace to consulting clients and prospects, as well as new, innovative solutions
• Maintaining project plans and status logs with completion times and issue resolutions/decisions
• Crafting letters, presentations, proposals, charts, and spreadsheets
• Working as a cooperative, proactive team member in projects involving other associates throughout the practice, group, and region to deliver coordinated client results
• Mentoring less-experienced associates at every opportunity
• Sharing information freely and pro-actively. Keep other associates advised of current information, and ensure all relevant information is captured in client documents

The Expertise and Skills You Bring

• 5-10 years' experience working with H&W plan financials, preferably at a benefit consulting/brokerage firm or through a health underwriting/actuarial function at an insurance company
• Actuarial exam completion and/or accreditation preferred
• Bachelor’s degree or equivalent experience is required
• Strong Microsoft Office PC skills in Excel, Word, and PowerPoint
• Strong critical thinking and problem-solving skills
• Excellent communication skills
• Self-motivation and determination to succeed
• Strong project management skills
• Skill balancing multiple projects in a fast-paced work environment
• Experience navigating contractual provisions, including scope control, and managing projects through to conclusion
• Knowledge of health insurance industry and employee benefits strategy
• Knowledge of applicable laws and regulations
• Knowledge of GAAP and STAT accounting and audit procedures, a plus
• Experience with Monte Carlo simulation modeling and VBA programming, a plus
• Willingness to work with teams in a hybrid in-person/virtual environment

Fidelity Workplace Consulting is composed of over 400 professionals who advise clients on their domestic and global benefits. We are a fast-growing business within Fidelity, providing a broad range of services that touch on every area of benefits design, strategy, funding, communication, and delivery. Most of our team comes from other leading consulting firms. While we focus on working with the Fortune 1,000, we work with Fidelity clients of all sizes. For more information about Fidelity Workplace Consulting please visit this link: https://www.fidelityworkplace.com/s/workplaceconsulting

The base salary range for this position is $85,000-$179,000 per year.  

Placement in the range will vary based on job responsibilities and scope, geographic location, candidate’s relevant experience, and other factors.

Base salary is only part of the total compensation package. Depending on the position and eligibility requirements, the offer package may also include bonus or other variable compensation.   

We offer a wide range of benefits to meet your evolving needs and help you live your best life at work and at home.  These benefits include comprehensive health care coverage and emotional well-being support, market-leading retirement, generous paid time off and parental leave, charitable giving employee match program, and educational assistance including student loan repayment, tuition reimbursement, and learning resources to develop your career.  Note, the application window closes when the position is filled or unposted.

Certifications: