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Benefits consultant vs benefits advisor

The differences between benefits consultants and benefits advisors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a benefits consultant and a benefits advisor. Additionally, a benefits consultant has an average salary of $79,068, which is higher than the $71,377 average annual salary of a benefits advisor.

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

Benefits consultant vs benefits advisor overview

Benefits ConsultantBenefits Advisor
Yearly salary$79,068$71,377
Hourly rate$38.01$34.32
Growth rate2%7%
Number of jobs19,30848,023
Job satisfaction-3
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 56%
Average age4645
Years of experience66

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.

What does a benefits advisor do?

A benefits advisor specializes in devising benefits programs and strategies for a workforce, ensuring they are well-compensated for their hard work. Typically, their responsibilities revolve around performing research and analysis to identify the needs of employees in a company, studying the benefit programs of competitors, and assessing the existing programs while putting the company's welfare into consideration. They must prepare reports and presentations for clients, provide cost-estimates and business plans, and evaluate risks, all while adhering to the company's policies and regulations, including its vision and mission.

Benefits consultant vs benefits advisor salary

Benefits consultants and benefits advisors have different pay scales, as shown below.

Benefits ConsultantBenefits Advisor
Average salary$79,068$71,377
Salary rangeBetween $51,000 And $121,000Between $46,000 And $109,000
Highest paying CityNew York, NYVancouver, WA
Highest paying stateNew YorkWashington
Best paying companyBMO Capital MarketsChevron
Best paying industryManufacturingGovernment

Differences between benefits consultant and benefits advisor education

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

Benefits ConsultantBenefits Advisor
Most common degreeBachelor's Degree, 71%Bachelor's Degree, 56%
Most common majorBusinessBusiness
Most common collegeUniversity of PennsylvaniaUniversity of Pennsylvania

Benefits consultant vs benefits advisor demographics

Here are the differences between benefits consultants' and benefits advisors' demographics:

Benefits ConsultantBenefits Advisor
Average age4645
Gender ratioMale, 46.7% Female, 53.3%Male, 41.2% Female, 58.8%
Race ratioBlack 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%Black or African American, 11.4% Unknown, 3.6% Hispanic or Latino, 15.3% Asian, 7.7% White, 61.6% American Indian and Alaska Native, 0.3%
LGBT Percentage35%9%

Differences between benefits consultant and benefits advisor duties and responsibilities

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.
  • Show more

Benefits advisor example responsibilities.

  • Manage broker and group accounts throughout the year administering qualify changes, terminations, and ACA compliance.
  • Create reports using SQL database and manage reports, perform from internet-base tools for research projects need for client insight.
  • Function as a liaison between the patient, hospital and governmental agencies to obtain documentation require for Medicaid eligibility determination.
  • Maintain employee benefit records in HRIS system, including qualifying event records, personal information updates, and employment status changes.
  • Evaluate patients for existing insurance coverage, federal and state assistance programs, or hospital charity application.
  • Use tactful and effective interview techniques to obtain pertinent information to assure accurate eligibility determination for Medicaid.
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Benefits consultant vs benefits advisor skills

Common benefits consultant skills
  • HR, 10%
  • Customer Service, 8%
  • Life Insurance, 7%
  • Strong Analytical, 6%
  • Health Insurance, 5%
  • Client Relationships, 5%
Common benefits advisor skills
  • Insurance Benefits, 21%
  • Patients, 12%
  • Inbound Calls, 10%
  • Medicare Advantage, 6%
  • Insurance Products, 6%
  • Medicaid, 5%

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