Sr Manager, Product Management and Development - Medicare Advantage

CVS Health; Chicago (IL); Hybrid; USD 75,000 - 199,000; Full time

Benefits offered by this job

Bonus program

Equity awards

Comprehensive benefits

Job summary

CVS Health in Chicago is seeking a Senior Manager of Product Strategy for Medicare Advantage to drive market-specific initiatives, influence product roadmaps, and ensure CMS compliance. You will bridge market intelligence, financial performance, and regulatory requirements while collaborating across sales, actuary, and product teams.

The role emphasizes strategic planning, new product ideas from customer feedback, and decommissioning underperforming features.

Qualifications

• 3–5 years of Medicare Advantage product experience.
• Cross-functional experience within a highly matrixed health plan.
• 3+ years developing product strategies with competitive data and cross-functional partners.
• Experience driving and contributing to cost containment strategies.
• Strong analytical skills and experience with plan benefit data sets.
• Experience developing product content/PPT and strong leadership presentation ability.
• Outstanding verbal and written communication skills.

Responsibilities

• Lead product strategy initiatives for assigned markets and serve as the main point of contact for the Product Strategy team (sales, actuary, etc.).
• Interpret legislative, competitive and industry issues to recommend new products or product enhancements.
• Develop product requirements and roadmaps incorporating customer feedback.
• Plan decommissioning of underperforming products or features with a proactive communication plan including customer impact.
• Support development of long-term vision and strategy for company products and share plans with stakeholders.
• Gather and evaluate market and industry insights related to competitors' benefit design; identify trends and opportunities.

Skills

Medicare Advantage product experience

Cross-functional collaboration

Product strategy development

Regulatory compliance awareness

Analytical skills

Verbal & written communication

Cost containment strategies

Education

Bachelor's degree or equivalent relevant experience

Job description

We're building a world of health around every individual - shaping a more connected, convenient and compassionate health experience. At CVS Health®, you'll be surrounded by passionate colleagues who care deeply, innovate with purpose, hold ourselves accountable and prioritize safety and quality in everything we do.

Join us and be part of something bigger - helping to simplify health care one person, one family and one community at a time.

This is a hybrid role requiring working 2-3 days a week from the office. Candidates must reside within a 25 mile radius of a CVS Health office.

Position Summary

The Senior Manager Product Strategy, Medicare Advantage is responsible for the support and development in the execution of strategic initiatives that drive growth, profitability and competitive differentiation within the Medicare Advantage (MA) product portfolio in their assigned market(s). This role bridges market intelligence, product innovation, financial performance and regulatory compliance to ensure the organization delivers high-quality, member centered health plans aligned with business objectives and evolving CMS requirements.

As a Senior Manager in Product Strategy this role will:

• Provide expertise and thought leadership, contributing to strategic planning, local market research, and cross-functional collaboration.
• Drive innovation, evaluate performance, and ensures regulatory compliance, playing a pivotal role in guiding the organization's growth and success.
• Support development of the product portfolio,
• Conduct market analysis and drive new product development.

Primary responsibilities

The Senior Manager of Product Strategy, will lead product strategy initiatives and act as the main point of contact for the Product Strategy team for their assigned market(s) and other functional areas (sales, actuary, etc.) (20%)

• Act as a subject matter expert within the Product Management and Development department, utilizing functional and working knowledge to complete complex analytics in the department.
• Interprets legislative, competitive and industry issues to recommend new products or product enhancements.

Ensure portfolio management guidance for the IVL Product organization is incorporated at a market level; developing, refining and executing on national as well as market focused product guidance and standards (30%)

• Develop product requirements and roadmaps and incorporates feedback from customers into the product strategy.
• Collaborates cross-functionally to generate new product ideas based on customer input, extradepartmental studies and findings, and industry trends
• Plans and outlines decommissioning of underperforming products or features with a proactive communication plan inclusive of customer impact and potential alternatives.

Execute national and local product strategy guidance and standard (20%)

• Supports development of long-term vision and strategy for the company products, communicating new strategies with relevant stakeholders to effectively disseminate project plans.

Analyze market trends and competitive positioning (15%)

• Gather and evaluate market and industry insights related to competitors' benefit design, identify trends and strategic opportunities.
• First Looks (high level pre- AEP release)
• MacVat (post 10/1 full benefits)

Required Qualifications

• 3 - 5 years of Medicare Advantage product experience
• Previous experience working cross functionally within a highly matrixed health plan
• 3 plus years developing product strategies, working with competitive data and cross functional partners
• Experience driving and contributing to cost containment strategies
• Strong analytical skills and experience working with plan benefit data sets
• Experience developing product content/ PPT and strong leadership presentation ability
• Outstanding verbal and written communication skills

Education

Bachelor's degree or equivalent relevant experience

Pay Range

The typical pay range for this role is:

$75,400.00 - $199,144.00

This pay range represents the base hourly rate or base annual full-time salary for all positions in the job grade within which this position falls. The actual base salary offer will depend on a variety of factors including experience, education, geography and other relevant factors. This position is eligible for a CVS Health bonus, commission or short-term incentive program in addition to the base pay range listed above. This position also includes an award target in the company's equity award program.

Our people fuel our future. Our teams reflect the customers, patients, members and communities we serve and we are committed to fostering a workplace where every colleague feels valued and that they belong.

Great benefits for great people

We take pride in offering a comprehensive and competitive mix of pay and benefits that reflects our commitment to our colleagues and their families.

This full-time position is eligible for a comprehensive benefits package designed to support the physical, emotional, and financial well-being of colleagues and their families. The benefits for this position include medical, dental, and vision coverage, paid time off, retirement savings options, wellness programs, and other resources, based on eligibility.

Additional details about available benefits are provided during the application process and on Benefits Moments.

We anticipate the application window for this opening will close on: 09/20/2026

Qualified applicants with arrest or conviction records will be considered for employment in accordance with all federal, state and local laws.