Health Benefits Actuarial Consultant - Multiple Cities

Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and performance of their most vital asset - their people. Mercer's 20,000 employees are based in more than 40 countries. If you thrive on challenge, are passionate about ideas, love solving problems and truly enjoy connecting with people, we encourage you to explore the hundreds of job opportunities available through Mercer. Our core strengths place Mercer in a unique position to help our clients achieve the extraordinary - and extraordinary results require extraordinary people. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global team of professional services companies offering clients advice and solutions in the areas of risk, strategy and human capital.

The Health & Benefits (H&B) Actuarial Consultant will provide accurate and timely data and financial analysis on various actuarial/financial projects for pricing of medical, dental, life and disability programs. This position also mentors more junior actuarial staff and oversees their basic actuarial work. To fulfill this role, the Actuary will:

  • Price and evaluation of consumerism plans (high deductible health plans with provisions to create greater consumer awareness) using Mercer's internal pricing model to compare designs; results are typically presented to client as part of a strategy or plan design discussion
  • Analyze cost drivers by reviewing client's cost/utilization data and looking for year-over-year trends or comparisons to external benchmarks using data provided from client's vendor reports or raw data from external databases; key results are summarized and presented to client to help understand cost drivers and help modify plan design
  • Project retiree medical costs by entering the client's retiree cost and enrollment data for both pre-Medicare and post-Medicare; results are used by 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 entering retiree prescription drug data into Mercer's Part D pricing model and performing tests to determine whether a federal government subsidy is available to the client; results are included in a report to the client documenting the assumptions and results of the testing
  • Perform analyses for larger, more complex clients, including more in-depth analysis for complex situations that may require additional research or discussion with Mercer subject matter experts
  • Oversee the financial analysis work a more junior analyst
  • Perform basic cost projections by entering the client's cost and enrollment data into an Excel spreadsheet and projecting costs for the next plan year
  • Analyze vendor renewals by checking carrier or vendor's plan rates for reasonableness and by analyzing claims and enrollment data, trend rates, administrative expenses and other charges
  • Price medical and prescription drug plan designs by entering plan design information into Mercer's internal pricing model to develop the relative cost differences between plan designs, in order to compare the client's current plan to alternative designs
  • Develop employee contributions scenarios by entering current employee medical contribution data into an Excel spreadsheet and project contributions to the next plan year, taking into account the cost-sharing goals of the client
  • Begin to manage an actuarial project from start to finish
  • Manage the quality and timeliness of client deliverables
  • Develop budgets and billing reports
  • Participate in client calls and meetings as appropriate
  • Prepare clear and concise client-friendly communications
  • Gain an understanding of the more advanced aspects of the following, through online training, group sessions, or one-on-one training with others in a more senior role: Health and Benefits products, services and technical tools offered by Mercer; vendor/carrier markets; underwriting and actuarial skills; budget-setting, rate-setting and evaluation; mentor and train more junior staff
  • Gather necessary data from the vendor or client; review to ensure it is complete, accurate and reasonable; and prepare data in a particular template or format for use in basic or advanced financial analyses or valuations. May review more junior analysts' work


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