Job Description:
Description
Role Summary:
Support ongoing pricing and reserving activities in Actuarial Services area. Activities include: experience monitoring, book of business analysis, trend analysis, rating formula maintenance and rate factor development for small group, large group, individual and Medicare-related products, benefit pricing, corporate financial forecasting, provider network evaluation, competitive analysis and reserve estimation.
We have the flexibility to fill this role as an Actuarial Analyst I or II.
In this role you will:
- Research potential new products and business ventures as directed.
- Analyze experience, underwriting guidelines, and claims procedures and effect on pricing and reserving.
- Coordinate generation of monthly reserves calculations, documentation, analysis and initial reserve recommendations using generally accepted actuarial principles, accounting for variances in corporate production, inventory, enrollment, and coverage variances.
- Coordinate preparation, calculation, and management reporting of health care and utilization trends.
- Maintain corporate rate formulas and rating systems for small group, larger group, individual and Medicare-related products.
- Research and test adequacy of coverage base rates, credibility factors, age/sex factors, and pooling charges.
- Assist in preparation and coordination of all rate filings necessary for Commissioner of Insurance.
- Assist in monitoring of forecasted results as they compare to actuals.
- Incorporate rating history and trend experience, growth, market changes, and loss ratio assumptions into models, testing multiple approaches to generate best estimates.
- Report enrollment and financial experience by line of business, type of contract, type of coverage, type of benefit, etc. as requested by management.
Additionally, Actuarial Analyst II will:
- Develop recommendations of pricing factors or rates for new types of coverage or new benefit levels.
- Research financial effects of cost containment strategies.
- Develop Actuarial estimate for future income and claims experience.
- Research, review, design, and report enrollment and financial experience by line of business, type of contract, type of coverage, and type of benefit as requested by management.
- Research deviations between experience and assumptions and develop recommendations.
- Develop supervisory skills through managing intern workflows and task list.
This role could be a good fit if you:
- Would like to deepen your actuarial experience
- Have a passion for continuous learning and development
- Enjoy working for a company that does not fear change and champions new ideas
You'll benefit from this experience by:
- Enjoying a smaller actuarial team that allows you to work across all business lines where you can directly see how your work impacts decisions
- Being directly involved in a variety of work projects
- Gaining experience working for a successful health plan and government contractor
- Working in an environment that serves our Nation's military, veterans, Guard and Reserves along with their families
You need to have:
- Bachelor's degree in Actuarial Science, Statistics, Mathematics, or related field
We also prefer:
- 1 or more years of actuarial experience within health insurance industry
- Completion of at least one Society of Actuaries exam with the desire to complete more exams
- Aptitude for Actuarial concepts
- Programming ability / interest
- Demonstrated skills in planning, organizing, coordinating, and managing multiple tasks and priority projects in a changing work environment
Compensation and Benefits
- Eligible for annual Performance Bonus Program
- 401(k) with dollar-per-dollar match up to 6% of salary
- Competitive paid time off
- Health and dental insurance start DAY 1
- Vision insurance
- Flexible spending, dependent care, and health savings accounts
- Short- and long-term disability, group life insurance
- Dress for your day
- Innovative professional and cognitive development programs
Who We Are
WPS Health Solutions is an innovator in health insurance and a worldwide leader in claims administration, serving millions of beneficiaries in the United States and abroad.
Founded in 1946, WPS offers health insurance plans for individuals, families, and seniors, and group plans for small and large businesses. We are a world-class claims processor and program administrator for the government's Medicare program. And we manage benefits for millions of active-duty and retired military personnel and their families.
Our Purpose and Values
Our purpose is to make healthcare easier for those we serve. Click Here
Our values - Customer Focused, Individual Responsibility, Mutual Respect, and Driven & Passionate - are the core of who we are and how we conduct business every day.
WPS Health Insurance
WPS Health Insurance offers high-quality health insurance plans for individuals and families, Medicare supplement plans for seniors, and group health plans for businesses of every size.
http://wpshealthsolutions.com/business-units/wpshi.shtml
Military and Veterans Health
WPS Military and Veterans Health administers claims and provides customer service and related activities for the U.S. Department of Defense and the U.S. Department of Veterans Affairs and their beneficiaries.
http://wpshealthsolutions.com/business-units/wpsmvh.shtml
Government Health Administrators
WPS Government Health Administrators manages Medicare Part A and Part B benefits for more than 7 million beneficiaries. As one of the largest contractors for the Centers for Medicare & Medicare Services, we've served Medicare beneficiaries and their health care providers since 1966.
http://wpshealthsolutions.com/business-units/wpsgha.shtml
WPS Health Plan
WPS Health Plan offers Health Maintenance Organization and Point-of-Service plans to the group and individual markets in eastern and north-central Wisconsin, plus third-party administrator services.
http://wpshealthsolutions.com/business-units/wpshi.shtml
EPIC Specialty Benefits
EPIC Specialty Benefits provides businesses group insurance products that cover:
- Life
- Disability
- Dental
- Vision
- Voluntary benefits
http://wpshealthsolutions.com/business-units/epicsb.shtml
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Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor's legal duty to furnish information. 41 CFR 60-1.35(c)
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