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SalaryAt Devoted Health, we’re on a mission to dramatically improve the health and well-being of older Americans by caring for every person like family. That’s why we’re gathering smart, diverse, and big-hearted people to create a new kind of all-in-one healthcare company — one that combines compassion, health insurance, clinical care, service, and technology - to deliver a complete and integrated healthcare solution that delivers high quality care that everyone would want for someone they love. Founded in 2017, we've grown fast and now serve members across the United States. And we've just started. So join us on this mission!
Job Description
A bit about this role:
The Actuary will be responsible for developing and maintaining actuarial models, analyzing data, and providing strategic insights to support the pricing And Bidding process for our Medicare Advantage plans. This role requires a deep understanding of Medicare Advantage regulations, risk adjustment methodologies, and a strong analytical background. You will be instrumental in developing and executing pricing strategies, ensuring compliance with regulatory guidelines, and providing critical insights to enhance the performance of our Medicare Advantage plans.
Responsibilities may include:
- Develop and implement bid pricing strategies as well as analytical rigor and speed for assessing product design impacts on financial performance for Medicare Advantage plans to optimize performance.
- Analyze and interpret regulatory guidance to ensure compliance with Medicare Advantage bid requirements.
- Collaborate with product, market, executive, and other cross-functional teams to incorporate market trends, competitive analysis, and organizational goals into pricing decisions.
- Develop key inputs and/or assumptions in support of the annual Medicare Advantage bid.
- Conduct sensitivity analyses and scenario testing to assess the impact of various factors on bid pricing outcomes.
- Analyze and interpret healthcare claims data, enrollment data, and other relevant information to identify trends and patterns.
- Work closely with data analysts and actuaries to ensure the accuracy and completeness of data used in the pricing process.
- Stay informed of changes in risk adjustment methodologies and assess their implications for pricing and financial performance.
- Generate regular reports for senior management, highlighting key performance indicators and providing insights into financial results.
- Analyze large datasets to identify trends, patterns, and areas for improvement in pricing methodologies.
- Develop and maintain knowledge and expertise in regional and national managed health care trends and best practices, seeking opportunities to translate those to Devoted Health.
Attributes to success:
- Must be analytical, hands on, and able to contribute quickly.
- Strong actuarial functional expertise, specifically within Medicare Advantage bid and product design.
- Strategic ability to understand the business at large and connect relationships across the organization.
- Ability to operate in an ambiguous environment where everyday we try to develop and optimize our operations.
- Maintain high ethical standards at all times, to include maintaining the confidentiality of financial and other sensitive information consistent with moral, professional, and regulatory requirements.
Desired skills and experience:
- Ability to work in a fast paced environment.
- Associate or Fellow of the Society of Actuaries, and Member of the American Academy of Actuaries (not required for the right candidate)
- Proficiency in the annual Medicare Advantage bid
- 7+ years of actuarial focus on MA bid pricing and plan design and other relevant actuarial experience in healthcare. Experience in Medicare Advantage is required
- Broad understanding of managed care business and financial principles such as pricing, reserving, capital management, underwriting, medical management, physician reimbursement, and risk management.
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Salary range: $130,000 - $185,000 / year
Healthcare equality is at the center of Devoted’s mission to treat our members like family. We are committed to a diverse and vibrant workforce. If you lack a specific credential for this position but believe that your strengths and life experiences will propel our mission, we would love to hear from you.
Our Total Rewards package includes:
- Employer sponsored health, dental and vision plan with low or no premium
- Generous paid time off
- $100 monthly mobile or internet stipend
- Stock options for all employees
- Bonus eligibility for all roles excluding Director and above; Commission eligibility for Sales roles
- Parental leave program
- 401K program
- And more....
- Our total rewards package is for full time employees only. Intern and Contract positions are not eligible.
The salary and/or hourly range listed is a good faith determination of potential base compensation that may be offered to a successful applicant for this position at the time of this job advertisement and may be modified in the future. When determining a team member's base salary and/or rate, several factors may be considered as applicable (e.g., location, specialty, years of relevant experience, education, credentials, budget and internal equity).
Devoted is an equal opportunity employer. We are committed to a safe and supportive work environment in which all employees have the opportunity to participate and contribute to the success of the business. We value diversity and collaboration. Individuals are respected for their skills, experience, and unique perspectives. This commitment is embodied in Devoted’s Code of Conduct, our company values and the way we do business.
As an Equal Opportunity Employer, the Company does not discriminate on the basis of race, color, religion, sex, pregnancy status, marital status, national origin, disability, age, sexual orientation, veteran status, genetic information, gender identity, gender expression, or any other factor prohibited by law. Our management team is dedicated to this policy with respect to recruitment, hiring, placement, promotion, transfer, training, compensation, benefits, employee activities and general treatment during employment.
