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Job Details

SPARx Actuarial Analyst 1

Company name
Humana Inc.

Location
Louisville, KY, United States

Employment Type
Full-Time

Industry
Actuarial, Insurance

Posted on
Aug 18, 2022

Valid Through
Dec 01, 2022

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Profile

Description

The Actuarial Analyst 1, Pricing is responsible for setting pricing assumptions, submitting bids, filing and gaining approval of premium rates and rate certifications with regulatory agencies. Supports implementation of rates, new plans and benefit changes. Provides guidance to Product Development on new product/benefit cost impacts. Develops and maintains pricing tools that price standard and custom benefits. The Actuarial Analyst 1, Pricing work assignments are often straightforward and of moderate complexity.

Responsibilities

This Actuarial Analyst 1 role will be working on the team responsible for communicating the Medicare pharmacy pricing information out to the company. We work closely with our internal team to understand the projects and financial changes driven by updated assumptions and communicate that information out to a very wide group of non-actuarial partners who are impacted by these changes. As a team of 7 actuaries, we manage more than 650 plans all with unique benefits structured to target a specific strategy or type of member. We also own some of the assumption that are used as inputs to the pricing model. The ownership of those assumptions entails responsibilities of: collecting assumptions from developer(s) and organizing them into standard formats for each update, reviewing assumptions to ensure they are developed appropriately, checking pricing model outputs to confirm that assumptions are implemented correctly, developing exhibits to summarize the assumption in the pricing model to CMS, and answering questions about the assumption from auditor during pricing reviews.

Our team is a very collaborative and engaged group of people. We use our weekly meeting as a group brainstorm, asking questions and sharing information to help each other learn and grow. We regularly schedule team engagement activities to build personal relationships with one another. Our work is busiest from March - June to focus on pricing submission deadlines. The work begins to pick up in January to prepare for the pricing season, but is significantly less busy from June-December.

Required Qualifications

Bachelor's Degree

Successful completion of at least 1 actuarial exam

Meets requirements for Humana's Actuarial Professional Development Program (APDP)

Strong communication skills

Must be passionate about contributing to an organization focused on continuously improving consumer experiences

Scheduled Weekly Hours

40

Company info

Humana Inc.
Website : http://www.humana.com

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