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BeneCard Services Inc
Clifton, NJ | Full Time
$82k-101k (estimate)
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BeneCard Services Inc
Clifton, NJ | Full Time
$82k-101k (estimate)
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Clifton, NJ | Full Time
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Actuary
$82k-101k (estimate)
Full Time | Insurance 2 Months Ago
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BeneCard Services Inc is Hiring an Actuary Near Clifton, NJ

Job Summary: Oversee and perform all actuarial requirements for Heartland and across the Family of Companies for Benecard Services, Benecard PBF, & National Vision Administrators. Primary responsibilities include calculating trend projections for the pharmacy lines of business under Heartland / BCS and Benecard PBF, supporting underwriting and modeling assumptions utilized for the Pharmacy and Vision lines of business, and supporting all regulatory and fronting carrier filing requirements for Heartland. Also includes working closely with Finance to reconcile actual reporting information and planning for and forecasting our insurance lines of business for Pharmacy and Vision for general business analyses, monthly underwriting meetings, and for annual AM Best rating agency requirements and multi-year projections.
Essential Duties & Responsibilities:
  • Continual analyze and understand the existing pharmacy business drug spend information to assist the underwriters with key assumptions and proposed plan design changes with cost implications that need to be accounted for in the pharmacy underwriting models
  • Track and monitor key pharmaceutical manufacturer pipeline information and relevant news which needs to be accounted for, as applicable, in the underwriting models and for overall business projections
  • In addition to the responsibilities above, establish and present pharmacy trends to the Underwriting Committee for approval and utilization by the Underwriting department twice a year
  • Validate and reconcile all insurance lines of business with Finance’s reporting
  • Support client actuarial attestations for Pharmacy Part D retiree groups
  • Support, coordinate, and validate independent third-party IBNR calculations required by insurance regulator and accounting / auditing firm
  • Support AM Best annual requirements regarding business analyzes and long -term projections of insured product lines for Pharmacy and Vision
  • Analyze insured Vision line of business for trends and adjustments as required for the Vision underwriting model
  • Support various state rate filings as required and applicable with Heartland’s fronting carriers to ensure the insured line of business remains competitive with the market and with NVA’s products and services
  • Revise and update Heartland’s Pharmacy and Vision underwriting manuals on an annual basis or more often as required
Qualifications Requirements:
  • Association of the Society of Actuaries (ASA)
  • Member of the American Academy of Actuaries (MAAA)
  • Minimum of 5 years of actuarial Group Pharmacy or Pharmacy related experience, including Medicare Part-D exposure
  • Group Vision benefits experience ideal
  • Proficient in excel and ability to work with large data sets to analyze experience and trends and apply findings to modeling and future business projections
Featured Benefits
  • Competitive salary
    • Potential to earn $1,000 sign-on bonus
  • Vacation and Sick/Personal Time
  • Medical Insurance
  • Hearing Program Discount
  • Short- & Long-Term Disability Insurance
  • Life Insurance
  • Flexible Spending Account
  • 401(k)
  • Employee Referral Program
  • Employee Recognition
  • Tuition Reimbursement
  • Professional Development Training
About Benecard Services our affiliated companies:Benecard Services, LLC
Benecard Services, LLC has been administering carve-out, fixed rate insured prescription drug benefit programs since 1990. Benecard is a full service, in-house prescription benefit administrator that includes mail and specialty drug dispensing. We are a premiere nationwide Prescription Benefit Administrator headquartered in Lawrenceville, New Jersey.
Website: http://www.benecard.com
BeneCard PBF
BeneCard PBF provides self-funded prescription benefit program administration with a personalized approach through focused, clinical expertise. Our business model operates on a customized claim processing system offering unlimited capability and flexibility to respond to client needs in an evolving marketplace. Advanced clinical programs and advanced technology provide the framework to maximize the use of all data elements available. This allows BeneCard PBF to filter the information, focus on clinical opportunities and facilitate interaction between the physician, the pharmacist and the patient to effectively promote complete health care. Headquartered in Bonita Springs, Florida.
Website: http://benecardpbf.com
National Vision Administrators
For over 40 years, National Vision Administrators (NVA) has been meeting the vision benefit needs of public employer groups, Health & Welfare Funds, Associations and Coalitions. Providing millions of people throughout the United States with vision care programs that help them be smarter buyers of eye care and eyewear, NVA is particularly well suited to address today's health benefit challenges as it relates to eye care. We offer cost-effective, customized vision benefit programs that are clinically integrated. We are proud of the fact that we have retained over 99% of our clients and believe it is the greatest testimony to the high-quality benefits and service satisfaction we provide to both our clients and their members. Headquartered in Clifton, New Jersey.
Website: http://www.e-nva.com
We are an Equal Opportunity employer.

Job Summary

JOB TYPE

Full Time

INDUSTRY

Insurance

SALARY

$82k-101k (estimate)

POST DATE

04/25/2024

EXPIRATION DATE

07/19/2024

WEBSITE

benecard.com

HEADQUARTERS

LAWRENCEVILLE, NJ

SIZE

100 - 200

FOUNDED

1990

CEO

MICHEAL PERRY

REVENUE

$10M - $50M

INDUSTRY

Insurance

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About BeneCard Services Inc

Benecard Services, LLC has been administering carve-out, fixed rate insured prescription drug benefit programs since 1990. Benecard is a full service, in-house prescription benefit administrator that includes mail and specialty drug dispensing. We are a premiere nationwide Prescription Benefit Administrator headquartered in Lawrenceville, New Jersey, with regional locations in Ohio, Connecticut, and Pennsylvania.

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