Consulting Actuary (CMH Health)

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 to lead large, cross-functional projects with clients in the health and pharmacy benefit industries. 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.

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.

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
• Plans projects, identify project deliverables, meet deadlines, and ensure compliance with quality procedures
• Ability to engage in and contribute to strategic discussions with executive c-suite level leadership for payers in the pharmacy benefits industry
• Manage small to large payer client relationships within large matrix organizations
• Design and deliver pharmacy benefit manager support to payer clients by developing proposals, creating presentations, and delivering innovative, market-leading recommendations to clients.
• Serve as a subject matter expert of pharmacy benefit claims adjudication, pricing and performance guarantees, utilization management program / edits, and rebate contracting
• Create new and expand upon existing consulting relationships with health plans, employers, and coalitions / cooperatives.
• Use pharmacy clinical and financial knowledge to diagnose and solve payer client problems
• Potential travel may be required, either onsite at vendor’s location to conduct the audit and/or an onsite client presentation audit results
  
  

Minimum Requirements

• Bachelor’s or master’s degree in a quantitative field
• 10 years (FSA) of pharmacy or related health actuarial consulting experience
• Experience mentoring staff and managing projects
• Strong communication skills (both verbal and written), and analytical thinking skills
• Advanced proficiency using Microsoft Excel
  
  

Competencies and Behaviors that Support Success in this Role

• Previous work experience, preferably at a consulting firm, PBM, managed care organization, health plan, or pharmaceutical company
• Experience working on pharmacy subject matter with Medicare, Medicaid, PBMs, Pharmaceutical Manufacturers, and/or commercial payers
• Experience solving complex problems with innovative, creative solutions
• Experience understanding large pharmacy claims data sets
• Deep understanding of pharmacy purchasing and reimbursement environment including pharmacy cost metrics such as average wholesale price, wholesale acquisition costs, average sales price, actual acquisition costs, and rebates
• Strong sense of accountability and business acumen
  
  

The Team

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.

Through a team of professionals ranging from actuaries to clinicians, technology specialists to plan administrators, we offer unparalleled expertise in employee benefits, investment consulting, healthcare, life insurance and financial services, and property and casualty insurance.

Salary: The salary range is $121,300 - $247,560, depending on relevant factors, including but not limited to education, work experience, certifications, location, etc.

For Candidates Residing In

• Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Pennsylvania, Virginia, Washington, or the District of Columbia the salary range is $133,430 - $226,930
• New York City, Newark, San Jose, or San Francisco the salary range is $145,560 - $247,560
• All other states the salary range is $121,300 - $206,300
  
  

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 25, 2026.

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 12 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.