Benefits Administration:

Oversee the enrollment and administration of US health and wellness benefit programs, including medical, dental, vision, life, EAP 401k and disability insurance. Manage the benefits enrollment process, ensuring all employees are accurately enrolled in the appropriate plans within required timelines. Track and manage benefits eligibility and compliance with regulatory requirements. Manage US leave of absence requests (FMLA, ADA, state-specific leaves, etc.), ensuring compliance with federal and state regulations.

 

2. Vendor Management/Benefit Plan Design:

Act as the primary point of contact for health insurance providers and vendors. Manage relationship with Broker, conduct a broker RFP every 4- 5 years. With the Broker, help to negotiate contracts and renewals with insurance carriers to ensure competitive pricing and plan offerings. Manage the relationship with vendors, ensuring timely and accurate claims processing.

 

3. Employee Support and Communication:

Act as a point of contact for employee benefit inquiries, providing guidance and resolving issues. Provide guidance to employees regarding available health insurance options, plan details, and claims processes. Develop and distribute clear communications about benefits offerings, open enrollment, and policy changes.

 

4. Compliance and Reporting:

Ensure that all health insurance plans comply with federal, state, and local regulations, including ACA (Affordable Care Act), HIPAA, and other relevant legislation. Prepare and submit required reports to regulatory agencies, insurance providers, and internal stakeholders. Maintain accurate records related to benefits enrollment, claims, and vendor agreements.

 

5. Program Evaluation and Improvement:

Develop and Lead employee feedback surveys bi-annually/annually to collect feedback and evaluate the effectiveness of current health insurance offerings, making recommendations for enhancements or changes based on employee feedback and market trends.  Analyze benefits data and metrics to identify opportunities for cost savings, process improvements, or plan design changes. Work closely with Global comp and ben team to understand market data and benefits trends within the semiconductor industry 

 

6. Budget Management:

Assist with budget planning and forecasting for employee benefits, ensuring programs are cost-effective and sustainable. Monitor the health insurance budget, including premiums, claims costs, and vendor fees.

 

7. Open Enrollment:

Manage the annual open enrollment process, providing employees with information about benefits options and ensuring timely and accurate enrollment. Organize educational sessions or webinars to inform employees about their benefits choices.

 

7. 401k Administration:

Oversee the company’s 401k retirement plan, ensuring compliance enrollment and education. Responsible for 401(k) Committee meeting coordination. Serve as the primary point of contact for the 401k service provider and employe questions. Annual compliance testing and reporting, support annual 11-K and annual Form 5500 filings, and annual audit