Actuarial Intern Spring 2025 (CMH Health)

Exciting Spring 2025 internship opportunities!

Join our CMH Health Practice!

Milliman’s CMH Health Practice is looking for motivated graduates or current college students pursuing a bachelor’s or master’s degree in actuarial science, math, economics, finance, statistics or another major with quantitative course work to partake in a full-time seasonal (winter-spring) internship with a focus on our Medicare Advantage and Medicare Advantage Part D business areas.

We offer competitive pay with the opportunity to work on real world assignments in our vibrant, dynamic, and growing health consulting practice.

Candidates should be talented and hard-working individuals with strong math and analytical skills.

Who We Are

Independent for more than 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.

Time Commitment

This internship will be a full-time seasonal position that requires significant time commitment and is not typically completed at the same time as college coursework.

We are ideally looking to fill these positions with individuals who will be available to work during standard business hours and willing to work extended full-time hours (at least 40+ hours / week, along with extended hours, at times of 50+ or 60+ hours per week).

This role is eligible for overtime and any hours worked over 40 per week will be paid at time and one-half the hourly rate.

The preferred start and end dates are mid-January 2025 to mid-June 2025 depending on business need.

Our Internship Provides You

• Challenging assignments with practical on the job experience
• Real world experience working during our busiest season (January thru June)
• Competitive pay and high earning potential with the opportunity to work overtime and receive time and a half
• Work alongside some of the leading experts within the Medicare Advantage and Part D (MA-PD) healthcare industry
• Exposure to relevant case studies through our CMH Health training program which focuses on teaching basic and applicable concepts of the MA-PD program
• Within the MA-PD segment of our practice, exposure to a variety of actuarial functions, including experience studies, valuation, pricing, model development, and forecasting
• An opportunity to work alongside Milliman’s premier MA-PD actuarial consultants, including those in senior management
• Development of your technical skills with platforms such as Excel, VBA, Python, and SAS
• Attendance at professional staff meetings and department meetings
• For those on an actuarial track, day of actuarial exam sitting is paid time off
• Mentorship from experienced actuaries
• Housing stipend may be provided
• Competitive pay
• Prospect of securing a full-time position with Milliman

Job Responsibilities

• Perform data analysis using Excel, VBA, SAS, Python, and proprietary Milliman programs to assist with consulting in Medicare Advantage and Part D
• Pricing and analysis for Medicare Advantage and Part D plans
• Provide medical, dental, and / or pharmacy benefit design strategy support for insurance carriers
• Participate in consulting activities including pricing, reserving, financial, projections, and mergers and acquisitions
• Responsible for reviewing the work of peers and assisting with research and product development
• Coordinate with Consultants, Managers, Professional Staff, and fellow Interns as a project team to analyze claims data, quantify the cost of insurance coverage, and model payment scenarios for clients
• 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

• Pursuing a bachelor’s or master’s degree in actuarial science, mathematics, economics, finance, accounting, or another major with quantitative course work
• Junior standing is preferred, but not required. Freshmen and sophomores will also be considered
• Must be able to work full-time from mid-January 2025 to mid-June 2025 (40+ hours / week along with extended hours, at times of 50+ or 60+ hours per week)
• For those on an actuarial track, at least one actuarial exam passed is preferred, but not required

Competencies and Behaviors that Support Success in this Role

• Good academic standing (3.2 grade point average or above is preferred)
• Previous internship or relevant work experience
• Leadership experience and involvement in extra-curricular activities
• Experience working with SAS, VBA, or other coding languages is advantageous
• Strong communication skills (both verbal and written)
• A detail-oriented self-starter with an entrepreneurial spirit inspired to contribute to the success of any project
• Ability to work on multiple types of projects at one time
• Can complete project deliverables, meet deadlines, and ensure compliance with quality procedures
• Analytical thinking skills to evaluate analyses for downstream impact
• Strong time management skills
• Ability to work independently and in a team environment
• Ambition and excitement for professional development
• Demonstrates integrity in all functions of work
• Excel, programing, and prior internship experience or work is a plus, but not a requirement for this position

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.

Compensation : The range is $19-$36 per hour, depending on a combination of factors, including but not limited to education, relevant work experience, qualifications, skills, certifications, location, etc.

Location : It is preferred that candidates work on-site at our Brookfield, WI, Chicago, IL, or Hartford, CT office, however, remote candidates will be considered.

Application : To be considered for this role, please upload an updated resume in PDF format.

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Benefits :

• When an intern, temporary, or seasonal employee reaches 1,000 hours worked within 12 consecutive months, they become eligible for a 401(k) plan with matching program and profit-sharing contribution
• Employee Assistance Program (EAP)
• Paid Time Off (PTO) starts accruing on the first day of work and can be used for any reason. Interns, Temporary, and Seasonal Employees will earn PTO each pay period, with an accrual rate of 1 hour for every 30 hours worked

The expected application deadline for this job is January 15, 2025.

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or status as a protected veteran.

Equal Opportunity Employer / Protected Veterans / Individuals with Disabilities

The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant.

However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)