Consulting Actuary (FSA) - Medicaid (CMH Health)

Milliman, Inc; Chicago (IL); Hybrid; USD 119,000 - 215,000; Full time

Benefits offered by this job

Health insurance

401(k) matching

Discretionary bonus

Paid time off

Parental leave

Job summary

Milliman, Inc. is seeking an experienced consultant for Milliman's CMH Health Practice to lead large, cross-functional projects with health industry clients in a dynamic, entrepreneurial environment.

The role emphasizes building client relationships, directing projects, and delivering results while leveraging actuarial expertise to advise on Medicaid managed care. Remote options may be considered and the team collaborates across office locations.

Qualifications

• Bachelor's or master's degree in a quantitative field.
• FSA designation with the Society of Actuaries (SOA)
• 7+ years of health actuarial experience or similar at a consulting firm or health insurance company
• 3+ years of Medicaid managed care experience in the past three years
• Advanced proficiency in Microsoft Excel and actuarial concepts
• Experience managing projects
• Strong communication skills (verbal and written) and analytical thinking
• Self-motivated, creative, and resourceful

Responsibilities

• Build relationships with clients, direct projects, and present results to clients.
• Develop a client base through networking, articles, speaking engagements, and other marketing methods.
• Identify client issues and resources needed to solve problems.
• Plan projects, deliverables, deadlines, and ensure quality procedures.

Skills

Client relationship building

Project management

Communication skills

Excel proficiency

Actuarial concepts

Analytical thinking

Self-motivated

Education

Bachelor's degree in a quantitative field

Master's degree in a quantitative field

FSA designation (SOA)

Tools

Actuarial software

Microsoft Excel

Job description

Description

Individual(s) must be legally authorized to work in the United States without the need for immigration support or sponsorship from Milliman now or in the future.

Milliman's CMH Health Practice is seeking a consultant with strong Medicaid managed care experience to lead large, cross‑functional projects with clients in the health industry. We are looking for someone who can build relationships with clients and senior management and is eager to apply their skills and experience to our rapidly growing entrepreneurial business.

Who We Are

Milliman is one of the leading experts in healthcare financing and delivery. We advise clients on a wide range of issues-from assessing the impact of healthcare reform on organizations or populations to streamlining operations while advancing the quality of patient care. Our consulting work is supported by a powerful toolkit of data analytics solutions and informed by the most trusted, comprehensive set of cost guidelines in the industry.

Job Responsibilities

• Responsible for building relationships with clients, directing projects, and presenting results to the client and answering their questions.
• Develop a successful client base through networking, writing articles, speaking engagements, and other marketing methods.
• Help identify the issues clients are facing and the resources needed to solve problems.
• Plan projects, identify project deliverables, meet deadlines, and ensure compliance with quality procedures.

Minimum Requirements

• Bachelor's or master's degree in a quantitative field
• FSA designation with the Society of Actuaries (SOA)
• 7+ years of health actuarial experience or similar at a consulting firm or health insurance company is required
• 3+ years of Medicaid managed care experience is required (this experience must be in past three years)
• Advanced proficiency in Microsoft Excel and actuarial concepts
• Experience managing projects
• Strong communication skills (both verbal and written), and analytical thinking skills to evaluate analyses for communication to clients
• Self‑motivated, creative, and resourceful

Competencies and Behaviors that Support Success in this Role

• Experience with managed Medicaid programs with a preference in developing managed Medicaid capitation rates for state agencies
• Experience mentoring staff
• Strong communication skills (both verbal and written)
• Analytical thinking skills to evaluate analyses for downstream impact
• Can complete project deliverables, meet deadlines, and ensure compliance with quality procedures
• Strong time management skills
• Ability to work independently and in a team environment
• Client focused and results‑oriented
• Ambition and excitement for professional development within the actuarial field
• Demonstrates integrity in all functions of work

The Team

Within a project team, consultants, managers, and analysts coordinate their efforts to deliver client reports and deliverables. Consultants are responsible for building relationships with clients, directing projects, and presenting results. Project managers work directly with analysts by reviewing work, answering questions, and developing client correspondence. Analysts are responsible for the majority of the technical work, which may include analyzing data, completing actuarial calculations, developing and utilizing actuarial models, and implementing software solutions.

Location

It is preferred that this candidate work in‑office at the Milwaukee, Chicago, or Harford office. Remote candidates will be considered.

The expected application deadline for this job is January 17, 2027.

Compensation

The overall range for this role is $103,500 - $214,820. For candidates residing in:

• Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Pennsylvania, Virginia, Washington, or the District of Columbia the range is $119,025 - $214,820.
• All other locations the range is $103,500 - $186,800

A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.

Benefits

We offer a comprehensive benefits package designed to support employees' health, financial security, and well‑being. Benefits include:

• Medical, Dental and Vision - Coverage for employees, dependents, and domestic partners.
• Employee Assistance Program (EAP) - Confidential support for personal and work‑related challenges.
• 401(k) Plan - Includes a company matching program and profit‑sharing contributions.
• Discretionary Bonus Program - Recognizing employee contributions.
• Flexible Spending Accounts (FSA) - Pre‑tax savings for dependent care, transportation, and eligible medical expenses.
• Paid Time Off (PTO) - Begins accruing on the first day of work. Full‑time employees accrue 15 days per year, and employees working less than full‑time accrue PTO on a prorated basis.
• Holidays - A minimum of 10 observed holidays per year.
• Family Building Benefits - Includes adoption and fertility assistance.
• Paid Parental Leave - Up to 11 weeks of paid leave for employees who meet eligibility criteria.
• Life Insurance & AD&D - 100% of premiums covered by Milliman.
• Short‑Term and Long‑Term Disability - Fully paid by Milliman.

Equal Opportunity

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.

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