What is a Typical Day for a Benefits Manager?

Are you interested in learning about a typical day for a benefits manager? If you would like to enter the world of Human Resources as Benefits Manager, you should set aside time to learn about the roles and responsibilities that you will take on with this title. While your roles and the daily responsibilities that you are assigned will vary based on the size of the organization and other factors, here are some of the tasks you can expect to complete daily.

Sourcing the Best Insurance Plans for Employees

Most employees want a job with a company that is dedicated to offering their workforce the benefits that they need to stay happy and healthy. One of the main priorities of the benefits manager is to manage the overall administration of an employee benefit package. To ensure that the company offers employees the best employer-sponsored plans, a benefits manager can spend a portion of the day or several days sourcing the best plans from insurance companies who cater to companies that are looking for competitive group rates. You may compare the rates of insurers that you are contemplating, speak with commercial health agents, and also spend time discussing the needs of your employee base to help guide you in making the best decision.

The plan that you choose will need to suit a majority of the employees needs while still focusing on rates. Employee satisfaction is a factor, but overall cost to the company is something that must be managed. This is why managers and specialists spend so much time throughout the year sourcing plans and doing comparisons.

Maintaining Your Relationship With the Insurer

Once you settle on a plan, you will need to stay in contact with the insurer to discuss benefits changes and also the submission of claims forms. Staying in contact with your agent or your plan representative is important. You can also contact this representative whenever your employees have questions that you may not readily have the answers to. Keeping an open line of communication is a must.

Providing Materials and Clearly Communicating the Benefits

When a new benefits plan is purchased, you will need to clearly communicate the details of the plan to your employees so that they can enroll in the right program. You can spend days or weeks planning an enrollment seminar, which answers all of these questions, or establish an open door policy where you can hand out special materials. Be sure to let employees know the following: what the plan covers, the cost of the plan, deductible options, limits and how premiums will be deducted from employees’ checks. You should also let employees know that they have the option to opt-out if they have coverage elsewhere.

Daily roles of a benefits manager, who oversees other specialists, can vary. If you are in the process of earning a Bachelor’s degree in Human Resources or a related field, consider all of the titles that you can pursue. While the demand in the benefits field is currently low, projecting a under-average growth of just 3% from 2012-2022, with the right degree, and a great human resources resume, you can improve your chances of securing a job in any industry. Now that you know about the typical day for a benefits manager, you can make the decision and decide which path to take.