What are the responsibilities and job description for the Senior Actuarial Analyst position at HMSA?
For assigned line(s) of business, the Senior Actuarial Analyst will:
- Support the calculation of monthly, quarterly and year-end actuarial and related items, including unpaid claims reserves (IBNR) and ACA-related assets and liabilities. Other financial reporting duties, as assigned.
- Support the creation of revenue and expense projections at the line of business level. Monitor emerging experience against these projections and produce variance analyses on a regular basis.
- Produce ad-hoc financial & statistical analyses, studies or forecasts, as needed.
- Support the pricing and rating of HMSA's products, including the following:
- Collecting and analyzing historical experience data, developing projections and modeling financial outcomes under various rating scenarios.
- Regularly updating the rating methodology and factors for HMSA's commercial group and individual lines of business, including drafting the associated rate filings.
- Supporting the development of annual Medicare bid submissions and group retiree pricing.
- Configuring and testing rate tables and factors in HMSA's systems.
- Creating and maintaining benefit differentials for alternative plan designs, pricing of new products/plans/benefits and modifications to existing plans/benefits.
- Support advanced trend analysis and projections, including:
- Monitoring emerging experience on a monthly basis, reconciling this against other sources and comparing against budget/forecast.
- Analyzing significant utilization, unit cost and other trend drivers, as well as variances against budget/forecast.
- Based on emerging trends, known/projected provider contract and other key drivers, support the development of trend forecasts to be used for financial projection and rating purposes.
- Performs all other miscellaneous responsibilities and duties as assigned or directed.
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