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Benefits Analyst - Full Time

The Timken Company - North Canton, OH

Posted on 09/05/20 (Ref: OHCA2o0SSc)

Benefits Analyst - North Canton, OH - The Timken Company

Your Career Begins at Timken
If you're ready for a challenging career that provides you with the ability to advance personally and professionally, look to Timken. Our associates make the world more productive by improving the efficiency and reliability of the machinery that keeps industry in motion.

Purpose: This role is responsible for the administration of the Company's health and welfare benefit programs involving 10,000 employees and retirees with a |$100 million annual spend. Additionally, this role manages the implementation of various health and welfare and wellness benefit programs and provides input into the design and development of these benefit plans.

The Company's benefit plans include medical, prescription drug, dental, vision, life insurance, short-term and long-term disability, and other voluntary welfare benefit plans for active employees and retirees. This includes Union and Non-union participants.

Essential Responsibilities:

  • Develop and maintain subject matter expertise on all of the company's active and retiree healthcare plans. Fully understand all compliance and administrative requirements of all such plans and interpret and apply regulations, plan design, and internal processes to make decisions concerning plan administration; serve as subject matter expert to address internal queries from HR managers regarding all such benefit plans; provide superior customer service to retirees concerning medical and prescription drug coverage and to active employees and retirees concerning all health and welfare benefit plans.
  • Serve as primary relationship contact for third party administrators related to any of the company's health and welfare benefit programs and manage the relationship with those third party administrators/vendors to insure accurate and timely processing of claims and administrative services; facilitate transfer of information to enable the vendor to establish and administer benefit coverage claims (including, for example, active prescription drug claims, COBRA coverage for former active employees, and direct billing for retiree medical coverage.
  • Ensure administrative compliance with applicable federal, state, and local regulations (e.g., ERISA, HIPAA, etc.) related to active and retiree healthcare plans and various other welfare benefit plans, including participating in discussions with consultants, advisors and outside counsel.
  • Independently manage the active and retiree medical open enrollment process, including interacting with the third party service providers, and serve as the point of contact on the administrative aspects of plan pricing and concerning the communication efforts. Independently manage and lead vendor or program implementations, interacting with advisors and other providers to complete such projects.
  • Work with vendors to resolve escalated claims issues which require specialized benefits knowledge; complete steps required to support ERISA claims appeals; independently analyze, interpret, and implement the final Plan Administrator decision, or independently serve as the Plan Administrator first level appeal authority and analyze and interpret benefit plan documents to provide guidance or make decisions regarding such first level appeals.
  • Draft, prepare updates to, or approve new summary plan descriptions and related documentation for medical plans and welfare plans, as required.
  • Review, evaluate, or create an analysis concerning the administrative aspects of the health and welfare benefit plans of any acquisitions, independently develop administration integration plans, and lead the integration of the administrative schemes of such benefit plans.
  • Process all death claims (benefit terminations, life insurance claims payments, and health care benefits continuation for surviving spouse) and handle other administrative matters related to active and retiree life insurance.
  • Function proficiently on benefit enrollment tool; including query capabilities and administrative functionality.

Basic Qualifications:

  • Bachelor's degree in Human Resources, Business Administration or related field.
  • 2 to 5 years of benefits administration experience.

All qualified applicants shall be treated equally according to their individual qualifications, abilities, experiences and other employment standards. There will be no discrimination due to gender or gender identity, race, religion, color, national origin, ancestry, age, disability, sexual orientation, veteran/military status or any other basis protected by applicable law.

Benefits Analyst - North Canton, OH - The Timken Company

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