Lead Benefits Consultant, Healthcare Strategy

The Lead Benefits Consultant, Healthcare Strategy role involves developing and executing innovative healthcare strategies to improve affordability, quality, health outcomes, and the team member experience across Target's health benefits portfolio.

You will serve as a strategic partner with expertise across healthcare and pharmacy benefits, identifying opportunities to manage healthcare costs, improve program effectiveness, and advance integrated medical and pharmacy strategies through data-driven insights, market intelligence, and strategic partnerships.

Key responsibilities include:

• Leading healthcare strategy initiatives focused on managing total cost of care, improving health outcomes, and enhancing the team member experience across medical and pharmacy benefits.
• Evaluating healthcare cost drivers, utilization trends, benefit design, clinical programs, and emerging care models to identify opportunities for improved affordability, quality, and performance.
• Advancing integrated medical and pharmacy strategies, including opportunities related to specialty medications, clinical management, and coordination across healthcare vendors and programs.
• Managing and enhancing healthcare programs and strategic initiatives, ensuring alignment with financial, operational, clinical, and team member experience objectives.
• Developing business cases, financial models, and return on investment (ROI) analyses to evaluate strategic opportunities, quantify value, and support informed decision-making.
• Partnering in healthcare financial planning, forecasting, and trend management to improve cost predictability and long-term financial sustainability.
• Supporting healthcare vendor strategy, selection, RFP processes, and contract negotiations in partnership with Procurement and Legal, with a focus on financial value, service quality, and performance outcomes.
• Analyzing medical and pharmacy claims data, utilization patterns, and emerging healthcare risks to identify key cost drivers, performance gaps, and actionable opportunities.
• Monitoring healthcare industry trends, regulatory developments, and evolving market practices to inform strategic priorities and identify opportunities for innovation.

Requirements include:

• 5+ years of experience in employer-sponsored healthcare, including exposure to medical and/or pharmacy benefits.
• Experience supporting healthcare vendor strategy, contract negotiations, and performance management across medical, pharmacy, or other health benefits.
• Understanding of healthcare cost drivers, benefit design, care delivery models, pharmacy trends, and strategies to improve healthcare affordability and outcomes.
• Foundational financial acumen and experience developing financial models, business cases, and return on investment (ROI) analyses.
• Experience supporting healthcare strategy initiatives, innovative solutions, pilot programs, or continuous improvement efforts.
• Ability to analyze medical and pharmacy claims, utilization, cost, and performance data to identify trends and translate insights into actionable recommendations.
• Experience collaborating with and influencing cross-functional partners and external stakeholders in a matrix environment.
• Strong written and verbal communication skills, with the ability to simplify complex healthcare topics and communicate insights and recommendations to diverse audiences.

Target offers a competitive salary range of $95,000.00 - $171,000.00, comprehensive health benefits, 401(k), employee discount, short-term disability, long-term disability, paid sick leave, paid national holidays, and paid vacation.