26 Actuarial Analyst II Jobs in Philadelphia, PA
Independence Blue Cross is Hiring an Actuarial Analyst II Near Philadelphia, PA
Duties - duties will vary depending upon unit (Pricing, Medical Cost Analysis, Reserving/Planning)
The Actuarial Analyst II performs semi-routine actuarial and statistical analyses to estimate financial outcomes. Applies knowledge of mathematics, probability, statistics, and principles of business to complete health calculations.
Pricing (Commercial or Medicare):
- Prepares data for pricing research, including experience and trend analyses, book of business studies, CMS revenue and risk score analysis, etc.
- Prepares rating information packages to be delivered to underwriting and other internal customers.
- Prepares rate filings for State Insurance Departments, CMS and other regulatory agencies.
- Prepares and gathers the information necessary for special projects such as demographic factors, competitive analysis and other, as required.
- Performs other duties and special projects as required.
- Prepares analysis and monitors claims trends for each line of business. Segregate's cost, utilization, mix of services, coverage types and effects of benefit and demographic changes.
- Prepares reports of medical cost results, both historical and projected.
- Supports the valuation of medical cost initiatives and tracking of performance against goals.
- Supports the development of trend projections.
- Performs other duties and special projects as required.
- Develops, calculates and monitors accruals, liabilities and reserves for lines of business assigned. Works with the actuary or management to ensure proper formulae are developed and applied.
- Develops interim estimates of refund liabilities for large accounts and accounts on alternative financial arrangements. May coordinate with Finance and Rating/ Underwriting departments to ensure that ratings methodologies are properly projected and accrued.
- Develops and calculates reserves for new products. Incorporates settlement terms as contained in various filings, agreements with accounts.
- Compiles data to support monthly financial forecasts of premium and claims.
- May assist with preparing the actuarial portions of financial statements and federal income tax returns and compiles, evaluates and certifies statistical data.
- Performs other duties and special projects as required.
- Bachelors degree in Mathematics, Statistics, Economics, Actuarial Services, or related field or equivalent work experience.
- Completion of actuarial course exams P, FM , IFM, LTAM and associated VEE credits, and a minimum of two years of experience is required.
- Solid mathematical background including experience working with risk models, actuarial or mathematical analysis, and using automated or statistical analysis tools, proficiency in Excel required.
- Knowledge of SQL server a plus. Excellent organizational, analytical, and communication skills required.
Job Summary
Full Time
$91k-113k (estimate)
07/03/2024
07/20/2024
ibx.com
CEDAR GROVE, NJ
7,500 - 15,000
1938
DON MUZICH
$1B - $3B
Wholesale
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About Independence Blue Cross
Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. With our affiliates, we serve nearly 8.5 million people in 25 states and Washington, D.C., including more than 2.5 million in the region. For nearly 80 years, we have been enhancing the health and well-being of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote well...-being. To learn more visit www.ibx.com. Connect with us on Facebook and Twitter. Independence Blue Cross is a subsidiary of Independence Health Group, Inc. independent licensees of the Blue Cross and Blue Shield Association, serving the health insurance needs of Philadelphia and southeastern Pennsylvania.
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The following is the career advancement route for Actuarial Analyst II positions, which can be used as a reference in future career path planning. As an Actuarial Analyst II, it can be promoted into senior positions as an Actuary III that are expected to handle more key tasks, people in this role will get a higher salary paid than an ordinary Actuarial Analyst II. You can explore the career advancement for an Actuarial Analyst II below and select your interested title to get hiring information.
