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Health and Benefits Actuarial Consultant - 1

Company:
Absolute Opportunities
Location:
Chicago, Illinois, 60606, United States
Posted:
February 14, 2018
Description:

Health and Benefits Actuarial Consultant - 1

New York, NY 10036

Chicago, IL 60606

The purpose of this position is to provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs.

Financial analysis

Performs advanced financial analysis including (25%-35%):

Pricing and evaluation of consumerism plans using Mercer’s internal pricing model to compare designs where consumers have a greater ownership in costs

Analyzing cost drivers by reviewing client’s cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client’s vendor reports or raw data from external databases

Projecting retiree medical costs by entering the client’s retiree cost and enrollment data for both pre-Medicare and post-Medicare participants

Estimating the impact of Medicare Part D legislation by entering retiree prescription drug data into Mercer’s Part D pricing model and performing tests to determine whether a federal government subsidy is available to the client

Performing analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts

May perform basic analysis including (5%-15%):

Perform basic cost projections by entering the client’s cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year

Analyze vendor renewals by checking carrier or vendor’s plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges

Price medical and prescription drug plan designs by entering plan design information into Mercer’s internal pricing model to develop the relative cost differences between plan designs, in order to compare the client’s current plan to alternative designs

Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client

Data manipulation and review – Work directly with vendor or client to review data to ensure it is complete, accurate and reasonable; and manipulate for use in financial analyses or valuations.

Perform a Level 1 review of the junior analyst’s work

Project management & consulting

Participate and

… Learn more

The purpose of this position is to provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs.

Financial analysis

Performs advanced financial analysis including (25%-35%):

Pricing and evaluation of consumerism plans using their internal pricing model to compare designs where consumers have a greater ownership in costs

Analyzing cost drivers by reviewing client’s cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client’s vendor reports or raw data from external databases

Projecting retiree medical costs by entering the client’s retiree cost and enrollment data for both pre-Medicare and post-Medicare participants

Estimating the impact of Medicare Part D legislation by entering retiree prescription drug data into their Part D pricing model and performing tests to determine whether a federal government subsidy is available to the client

Performing analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion their subject matter experts

May perform basic analysis including (5%-15%):

Perform basic cost projections by entering the client’s cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year

Analyze vendor renewals by checking carrier or vendor’s plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges

Price medical and prescription drug plan designs by entering plan design information into their internal pricing model to develop the relative cost differences between plan designs, in order to compare the client’s current plan to alternative designs

Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client

Data manipulation and review – Work directly with vendor or client to review data to ensure it is complete, accurate and reasonable; and manipulate for use in financial analyses or valuations.

Perform a Level 1 review of the junior analyst’s work

Project management & consulting

Participate and present in client calls and meetings

Build relationships with clients and anticipate client questions

Manage one aspect of an actuarial project from start to finish

Consult on and directly answer questions that clients have on any analysis work they performed

Assist with the preparation of clear and concise client-friendly communications

Manage the quality and timeliness of client deliverables

Help to develop budgets and billing reports

Delegate and review project work of more junior analysts

Mentor more junior analysts and interns

Products, services & tools – have a proficient understanding of the following, through online training, group sessions, or one-on-one training with others in a more senior role. In addition, to assist with the delivery of internal training to more junior analysts.

Health and Benefits products, services and technical tools

Vendor/carrier markets

Basic underwriting and actuarial skills

Budget-setting, rate-setting and evaluation.

Required Knowledge, Skills, and Abilities: (Submission Summary)

1. BA/BS degree

2. 3 years of H&B experience

3. Must have candidate have health and benefits consulting experience.

4. Strong analytical and mathematical skills; strong command of Excel

5. Excellent interpersonal skills; strong oral and written communication skills

6. Ability to prioritize and handle multiple tasks in a demanding work environment

7. Strong critical thinking and analytical problem-solving skills

8. Ability to work independently and on a team

9. Must have passed more than one preliminary Society of Actuaries (SOA) exam or a Valuation of Educational Experience (VEE) component, and plan to continue taking exams.

10. Does the candidate have an ASA or FSA

11. Present Salary?

12. Salary Expectation?

13. Must be a US Citizen or Green Card holder?

14. Current Address?

15. Which location are you interested in Chicago or New York?