Health Actuary

Exciting, new role for a creative Health Actuary. This role will focus on the pricing and modeling of our Client’s Medicare Supplement products. The administration and marketing of the Client’s Medicare Supplement product is outsourced. Ideal candidate will be an FSA or ASA. Health product pricing and modeling experience is required. Finally, salary is negotiable. Client is located in Omaha, NE. Apply now for this exciting Health Actuary job!

Summary

First of all, directs and performs actuarial work on Medicare supplement health product. This includes design, pricing, proposals, as well as implementation. Also, analyzes product experience. In addition, maintains adequate premium rates and reserves to ensure profitability. Furthermore, responsible for supporting actuarial valuation for financial statements, financial projections and special studies. Will assist senior management in strategic planning

The Essential Functions

First of all, health actuary is responsible for rate adequacy and profitability of existing Medicare supplement products. Furthermore, will give consideration for competitiveness while ensuring rates are in compliance with state law and regulations. Duties include:

  • Above all, design and price new health products to be profitable and competitive. Analyze pertinent data. Develop appropriate actuarial assumptions. Use sound judgement.
  • Furthermore, take part in the design, building and implementation of actuarial systems and data repositories to support product line.
  • Also, ensure the adequacy of actuarial valuation items such as claim and policy reserves (statutory, GAAP, and tax). Study trends and analyze product financial performance. Conduct experience studies to develop and track actuarial assumptions. Maintain valuation systems.
  • Ensure that health actuarial exhibits and schedules for the Annual Statement are accurate and timely. This includes required Supplemental Annual Statement Exhibits. Provide required detail documentation to auditors and respond to all auditor questions.
  • Most noteworthy, assess financial impact of compliance/regulatory changes and other factors impacting existing products.
  • Develop financial projections and actuarial assumptions. Use reasonable estimates of future sales, expenses, claims, reserves, commissions, and persistency. Use projections for strategic planning and reporting to rating agencies.
  • Also, perform annual rate revisions and certifications when changes in products and claim experience.
  • Work with other management and staff to assure open lines of communication. Serve as Health Actuary subject matter expert.
  • Furthermore, identify opportunities for improving quality and productivity, workflow and processing controls. Put in place needed changes.
  • Finally, stay current with professional affiliations. Keep abreast of trends and developments for area of assignment. Serve as a technical liaison for area of expertise within the Company

Required Education and Experience

  • Graduate Degree in Mathematics, Statistics, Actuarial Science.
  • Fellow, Society of Actuaries designation (FSA) or Associate, Society of Actuaries (ASA) with work experience. Member of American Academy of Actuaries.
  • Also, eight plus years of actuarial experience with emphasis on insurance products and pricing.
  • Furthermore, experience with preparation and analysis of Annual Statements and Financial Statements. Also, experience with product development processes.
  • Advanced computer skills in Microsoft Excel, Word, PowerPoint, VBA macros and SQL.
  • Strong verbal and written communication skills. Able to explain technical ideas and actuarial results/concepts to varying levels and individuals unfamiliar with the technical aspects of actuarial work.
  • Finally, Health Actuary experience preferred.

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Additional resource links for Omaha, Nebraska: City of Omaha and Wikipedia.

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