Senior Healthcare Business Analyst (Employee Benefits) - 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 looking for a Senior Healthcare Business Analyst with employee benefits experience to join their vibrant, dynamic, and growing practice. Healthcare Business Analysts (referred to as Professional Staff) will have the opportunity to work in a wide variety of areas within the healthcare industry, while working alongside some of the leading experts in the field.

Who We Are

Independent for 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world's most critical and complex issues, including retirement funding and healthcare financing, risk management and regulatory compliance, data analytics and business transformation.

Job Responsibilities

• Perform financial analyses including developing pricing and employee contribution strategies, modelling plan design alternatives, and calculating reserves
• Support vendor procurement strategy, negotiation, implementation, and optimization activities
• Analyze benefit plan design, cost savings, and funding strategies
• Perform data analysis using Excel, SAS, and proprietary Milliman programs to assist with consulting for various health insurance work areas
• Participate in consulting activities to include pricing, reserving, financial projections, and mergers and acquisitions
• Provide medical and pharmacy benefit design strategy support for insurance carriers, state health exchanges, and employers
• Responsible for reviewing the work of peers and assisting with research and product development
• Coordinate with Consultants, Managers, Professional Staff, and Interns as a project team to deliver client reports and deliverables
• 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

Minimum requirements

• Bachelor's or master's degree in a quantitative field
• 2+ years of relevant full-time experience, primarily working with Employee Benefits programs
• Able to acquire state life and health license within 90 days of start date
• Thorough understanding of Microsoft Excel and analytical concepts

Competencies and Behaviors that Support Success in this Role

• Pursuit of CEBS/ASA designation, or health and welfare actuarial/underwriting training
• Experience working with SAS, VBA, or other coding languages is advantageous
• Experience with commercial group insurance, employer health benefits, or pharmacy programs from a benefit consulting/brokerage firm or health underwriting/actuarial function of an insurance company is strongly preferred
• Passion for healthcare and related areas
• Strong communication skills (both verbal and written)
• Analytical thinking skills to evaluate analyses for downstream impact
• Can complete project deliverables, meet deadlines, and ensure compliance with quality procedures
• Strong time management skills
• Ability to work independently and in a team environment
• Client focused and results oriented
• Demonstrates integrity in all functions of work

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 overall salary range for this role is $71,700 - $137,640.

For candidates residing in:

• Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Pennsylvania, Virginia, Washington, or the District of Columbia the salary range is $78,870 - $126,170.
• New York City, Newark, San Jose, or San Francisco the salary range is $86,040 - $137,640.
• All other locations the salary range is $71,700 - $114,700.

A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc.

Location: It is preferred that candidates work on-site at our Milwaukee, WI, Chicago, IL, or Hartford, CT 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.

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