Actuarial Analyst - Medicare Part D

$65,000 - $89,500/Yr

Humana - Trenton, NJ

Full-time - Entry Level

Remote - Trenton, NJ

Insurance Carriers and Related Activities

About the position

The Actuarial Analyst 1, Pricing at Humana is responsible for setting pricing assumptions, submitting bids, and filing premium rates with regulatory agencies. This role supports the implementation of rates, new plans, and benefit changes while providing guidance on cost impacts for new products. The analyst develops and maintains pricing tools, establishes financial metrics, analyzes market results, and collaborates with sales to develop strategies for profitable membership growth. The position requires compliance with state and federal regulations and involves straightforward work assignments of moderate complexity.

Responsibilities

• Set pricing assumptions and submit bids for premium rates.
• File and gain approval of premium rates and rate certifications with regulatory agencies.
• Support implementation of rates, new plans, and benefit changes.
• Provide guidance to Product Development on cost impacts of new products/benefits.
• Develop and maintain pricing tools for standard and custom benefits.
• Establish market level financial metrics to align with profitability goals.
• Analyze market level results and projections to recommend pricing actions.
• Research competitors in the marketplace and collaborate with sales for membership growth strategies.
• Accountable for actuarial certifications on rate filings.

Requirements

• Bachelor's Degree
• Successful completion of at least 1 actuarial exam
• Strong communication skills
• Strong data analytics skills and attention to detail

Nice-to-haves

• Basic understanding of Medicare Part D
• Prior experience with Microsoft Excel and SAS
• Bachelor's or advanced degree in a quantitative field

Benefits

• Medical, dental, and vision benefits
• 401(k) retirement savings plan
• Paid time off including company and personal holidays
• Volunteer time off
• Paid parental and caregiver leave
• Short-term and long-term disability
• Life insurance