Pricing Actuary - Medicare Supplement Product Management

Physicians Mutual; Omaha (NE); On-site; USD 90,000 - 120,000; Full time

Job summary

Physicians Mutual in Omaha is looking for an experienced Pricing Actuary to lead the design and pricing of Medicare Supplement products. This role entails extensive collaboration with cross-functional teams to ensure products are competitively priced and compliant with regulations.

The ideal candidate will have a strong background in actuarial pricing, experience with Medicare Supplement products, and excellent communication skills to present findings to management.

Qualifications

• Bachelor’s degree in a related analytical field.
• Fellow of the Society of Actuaries designation.
• Experience with Medicare Supplement product management.

Responsibilities

• Lead actuarial pricing work for Medicare Supplement products.
• Analyze Medicare Supplement experience and profitability.
• Develop and enhance actuarial pricing models.

Skills

Actuarial pricing concepts

Morbidity analysis

Communication skills

Statistical modeling tools

Education

Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics

Fellow of the Society of Actuaries designation

Tools

Excel

ALFA

CASE

Job description

Overview

Physicians Mutual is seeking an experienced Pricing Actuary - Medicare Supplement Product Management to provide actuarial leadership for the design, pricing, implementation and ongoing management of Medicare Supplement insurance products.

In this role, you’ll focus on Medicare Supplement pricing strategy, rate adequacy, product profitability, experience monitoring and regulatory support. You’ll partner closely with Product Management, Underwriting, Claims, Finance, Marketing, distribution teams and other business partners to ensure Medicare Supplement products are competitively priced, financially sound, compliant with applicable state and federal requirements and aligned with Physicians Mutual’s long-term business goals.

This is a high-impact opportunity for an actuarial leader who brings strong technical pricing expertise, sound business judgment and the ability to translate Medicare Supplement experience data into actionable product and rate recommendations.

Responsibilities

• Lead actuarial pricing work for Medicare Supplement products, including new product pricing, rate development, profitability analysis and pricing assumption review.
• Support Medicare Supplement product development initiatives by evaluating product designs, benefit structures, pricing assumptions, underwriting considerations, administrative procedures and distribution strategies.
• Analyze Medicare Supplement experience, including morbidity, persistency, claim trends, expenses, loss ratios, rate increase history and other key profitability drivers.
• Develop, maintain and enhance actuarial pricing models using Excel, ALFA, CASE or other actuarial/statistical modeling tools.
• Prepare Medicare Supplement profit studies, financial projections, margin analyses and other actuarial evaluations to support product management decisions.
• Support Medicare Supplement rate actions, including re-rating analysis, management recommendations, filing support, implementation planning and post-implementation monitoring.
• Partner with Product Management and Compliance to support state filing requirements, actuarial memorandums, exhibits and responses to regulatory questions.
• Ensure Medicare Supplement pricing, reserving, re-rating and product management activities comply with applicable state and federal regulations, Actuarial Standards of Practice and related Practice Notes.
• Monitor emerging experience and external factors impacting Medicare Supplement performance, including morbidity trends, aging patterns, persistency, expenses, competitive positioning and regulatory developments.
• Prepare and present actuarial findings, financial risks and recommended actions to management and cross-functional stakeholders.
• Collaborate with Underwriting, Claims, Finance, Marketing, distribution teams, technology partners and other areas to support accurate, timely and effective product decisions.
• Provide coaching, training and technical guidance to less experienced actuarial professionals and technicians.

Qualifications

• Bachelor’s degree in Actuarial Science, Mathematics, Statistics, Economics or a related analytical field.
• Fellow of the Society of Actuaries designation.
• Medicare Supplement, supplemental health, health insurance pricing or related actuarial product management experience.
• Strong knowledge of actuarial pricing concepts, rate adequacy, profitability analysis, reserves, experience studies and regulatory requirements.
• Demonstrated ability to analyze morbidity, persistency, expenses, claims experience, loss ratios and other financial drivers.
• Experience developing or maintaining actuarial models using tools such as Excel, ALFA, CASE or similar software.
• Ability to prepare and explain complex actuarial, financial and statistical reports.
• Strong communication skills with the ability to present complicated data, pricing recommendations and financial risks to multiple levels of management.
• Ability to manage multiple complex projects while meeting established deadlines.
• Demonstrated ability to meet continuing education requirements established by the Society of Actuaries and the American Academy of Actuaries.

Preferred

• Direct Medicare Supplement pricing, rate increase or state filing experience.
• Experience preparing or supporting actuarial memorandums, rate filings, exhibits and regulatory responses.
• Experience with Medicare Supplement product development, product management, profitability monitoring or re-rating actions.
• Experience presenting pricing recommendations to senior management or cross-functional leadership groups.
• Experience coaching actuarial students, analysts or less experienced actuarial professionals.

About Us

Health. Life. Retirement. The Physicians Mutual family empowers people from all walks of life to enjoy the financial security they deserve. That’s what Insurance for all of us® is about.

The Physicians Mutual family includes Physicians Mutual Insurance Company, Physicians Life Insurance Company and Physicians Select Insurance Company. Physicians Mutual offers reliable dental and supplemental health insurance, and pet insurance. Physicians Life provides important life insurance, Medicare Supplement insurance and coverage for funeral pre-planning. Physicians Select Insurance Company additionally offers exclusive Medicare Supplement insurance.

Since our start in 1902, our dedication to delivering on our promise has helped make us one of the nation’s leading health and life insurance providers. In fact, we are rated in the top 1% of insurance companies. We consistently maintain some of the highest financial strength ratings in the nation from independent insurance analysts, including A.M. Best Company and Weiss Ratings, ensuring we’ll be there for our policyowners and our employees far into the future.

But the achievement we’re most proud of? We have a 95% customer satisfaction rating — a true sign of a company dedicated to embodying its vision.