Assistant Actuary I - (Medicare Part D)

About the role

Join us as we renew and reimagine the future of health care. Together, we will achieve our mission to enhance the health and well-being of the people and communities we serve.

Key Responsibilities

- Own end-to-end design, development, and maintenance of Part D pricing models to project member-level drug utilization, cost sharing, plan liability, and CMS payments. - Translate complex Part D benefit designs, formularies, and CMS rules into robust model logic. - Lead reconciliation of seriatim model results to aggregate bid components, financial forecasts, and statutory reporting. - Establish modeling standards, validation frameworks, and documentation practices to ensure accuracy and transparency. - Provide expert judgment on key pricing assumptions, trends, and emerging risks impacting Part D financial performance. - Lead scenario analysis and strategic modeling (e.g., benefit redesigns, formulary changes, trend, risk mix, regulatory changes, customer level pricing) using seriatim projections. - Partner closely with finance, pharmacy, underwriting, product, and strategy teams to inform pricing decisions and corporate forecasts. - Monitor regulatory developments and CMS guidance, assess financial implications, and recommend pricing or strategy responses. - Present complex modeling results and recommendations to actuarial leadership and senior management.

Requirements

- Bachelor’s degree in Actuarial Science, Mathematics, Statistics, or a related field. - 6+ years of actuarial experience, with significant focus on Medicare Part D pricing or pharmacy analytics. - Associate of the Society of Actuaries (ASA) designation. - Demonstrated experience building, owning, and validating complex actuarial models. - Strong experience working with detailed healthcare claims data. - Proficiency in Excel and SQL; experience with R, SAS, or similar tools strongly preferred. - Strong communication skills, with the ability to translate technical results into clear business insights.

Preferred Experience

- Direct ownership of Part D bid pricing models or major bid components. - Experience leading or reviewing seriatim or claim-level actuarial models. - Demonstrated ability to exercise actuarial judgment in ambiguous or evolving regulatory environments. - Experience influencing pricing or strategy decisions through data-driven analysis. - Proven ability to manage multiple high-impact priorities in a deadline-driven environment.

Benefits

Independence has implemented a “Hybrid” model which consists of Associates working in the office 3 days a week (Tuesday, Wednesday & Thursday) and remotely 2 days a week (Monday & Friday). This role is designated as a role that fits into the “Hybrid” model.

Pay

The compensation for this role is competitive and commensurate with experience.

Schedule

This role is designated as a role that fits into the “Hybrid” model. While associates may work remotely on our designated remote days, the work must be performed in the Tri-State Area of Delaware, New Jersey, or Pennsylvania.