Health & Benefits Actuarial Consultant

The Health & Benefits (H&B) Actuarial Consultant will lead and manage financial deliverables for their client teams from start to finish. This includes managing the quality and timeliness of client deliverables, developing and managing internal budgets, acting as a key client contact for financial work, and preparing and presenting results to clients. To be successful in this role, the Actuarial Consultant will:

  • Assist client teams with developing the financial impact of implementing various health and benefit strategies
  • Provide financial analysis for complex clients, including in-depth analysis for difficult situations that require research or discussion with Mercer subject matter experts
  • Present financial analysis to clients and answer ad hoc questions related to financial components of benefits strategies
  • Price and evaluate medical plans using Mercer's internal pricing model to compare designs
  • Develop IBNP reserves using Mercer's proprietary reserving model and deliver results to clients
  • Develop employee contributions scenarios, taking into account the cost-sharing goals of the client
  • Analyze cost drivers by reviewing client's cost/utilization data, evaluate year-over-year trends and compare client experience to benchmarks. Key results are summarized and presented to the client to help understand cost drivers and to support strategic recommendations
  • Project retiree medical costs and work with Retirement to develop retiree medical liabilities used by the client and their auditors for accounting purposes
  • Estimate the impact of Medicare part D legislation by using Mercer's Part D pricing model to determine whether a federal government subsidy is available to the client
  • Oversee the work of junior analysts, including review of
    • Projected costs for the upcoming plan year
    • Negotiated vendor renewals
    • Cost impact of medical and prescription drug plan designs changes
  • Manage project timelines, navigate critical client and vendor issues and proactively communicate with teams to ensure effective delivery of results
  • Gain an expert level understanding of the following, through online training, group sessions, or one-on-one training with others
    • Health and Benefits products
    • Services and technical tools offered by Mercer
    • Vendor/carrier markets o Underwriting and actuarial skills
    • Budget-setting, rate-setting and evaluation
    • Team leadership skills

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