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Benefit specialist vs benefits consultant

The differences between benefit specialists and benefits consultants can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a benefit specialist and a benefits consultant. Additionally, a benefits consultant has an average salary of $79,068, which is higher than the $48,756 average annual salary of a benefit specialist.

The top three skills for a benefit specialist include customer service, HR and patients. The most important skills for a benefits consultant are HR, customer service, and life insurance.

Benefit specialist vs benefits consultant overview

Benefit SpecialistBenefits Consultant
Yearly salary$48,756$79,068
Hourly rate$23.44$38.01
Growth rate7%2%
Number of jobs31,66319,308
Job satisfaction--
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 71%
Average age4546
Years of experience66

What does a benefit specialist do?

A benefits specialist is responsible for analyzing and processing the compensation package of an organization, ensuring that the salary and benefits received by an employee adhere to the current legislation procedures. Benefits specialists develop benefits programs, adjusting pension plans and insurance options as needed, and updating the employees on recent updates and changes. A benefits specialist responds to employees' inquiries, addresses their concerns, and manages benefits issues. A benefits specialist must have a clear understanding of benefits policies and processes to educate employees about the benefits structure.

What does a benefits consultant do?

Benefits consultants are executives who carry out many services for individuals and businesses. The consultants draft and organize policies within the organization. They handle vendors and manage the renewal of negotiations of HMO plans. It is their job to establish agency relationships with marketing representatives. They coordinate programs that involve self-funded or administered long-term and short-term disability, life insurance, and a cafeteria plan. Also, they prepare enterprises to meet health care law changes.

Benefit specialist vs benefits consultant salary

Benefit specialists and benefits consultants have different pay scales, as shown below.

Benefit SpecialistBenefits Consultant
Average salary$48,756$79,068
Salary rangeBetween $34,000 And $68,000Between $51,000 And $121,000
Highest paying CitySan Francisco, CANew York, NY
Highest paying stateConnecticutNew York
Best paying companyQorvoBMO Capital Markets
Best paying industryFinanceManufacturing

Differences between benefit specialist and benefits consultant education

There are a few differences between a benefit specialist and a benefits consultant in terms of educational background:

Benefit SpecialistBenefits Consultant
Most common degreeBachelor's Degree, 59%Bachelor's Degree, 71%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Benefit specialist vs benefits consultant demographics

Here are the differences between benefit specialists' and benefits consultants' demographics:

Benefit SpecialistBenefits Consultant
Average age4546
Gender ratioMale, 21.1% Female, 78.9%Male, 46.7% Female, 53.3%
Race ratioBlack or African American, 11.0% Unknown, 3.6% Hispanic or Latino, 15.3% Asian, 7.5% White, 62.2% American Indian and Alaska Native, 0.3%Black or African American, 11.2% Unknown, 3.4% Hispanic or Latino, 10.0% Asian, 8.0% White, 66.9% American Indian and Alaska Native, 0.4%
LGBT Percentage9%35%

Differences between benefit specialist and benefits consultant duties and responsibilities

Benefit specialist example responsibilities.

  • Manage various employee program such as life, medical, dental pension, and HSA accounts.
  • Examine HMO documents to verify eligibility to process or reject into or from a manage care plan when necessary.
  • Input daily time and PTO, manage benefits, report new hires, input sales, oversee accounts receivable.
  • Create reports using SQL database and manage reports, perform from internet-base tools for research projects need for client insight.
  • Implement new vendor for FSA administration and manage outstanding issues through continuous follow-up and vendor accountability.
  • Analyze, process and manage FMLA claims to determine eligibility and certification in compliance with state and federal regulations.
  • Show more

Benefits consultant example responsibilities.

  • Manage benefits for fully insure medical/dental plans with life, long-term disability, and FSA accounts.
  • Manage annual non-discrimination testing, audit and IRS filings for qualify retirement plan, working with external vendors.
  • Manage vendors for medical, dental, pharmacy, vision, HSA, long-term care and work-life resource and referral programs.
  • Manage several SDLC phases for enterprise systems used by state government agencies to perform environmental and environmental management.
  • Provide SharePoint development and administration, budget and financial reporting; manage invoicing; and develop training manuals and user guides.
  • Coach clients and provide orientation about cobra act.
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Benefit specialist vs benefits consultant skills

Common benefit specialist skills
  • Customer Service, 13%
  • HR, 8%
  • Patients, 5%
  • HRIS, 5%
  • Life Insurance, 5%
  • Cobra, 5%
Common benefits consultant skills
  • HR, 10%
  • Customer Service, 8%
  • Life Insurance, 7%
  • Strong Analytical, 6%
  • Health Insurance, 5%
  • Client Relationships, 5%

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