Underwriter job at CareFirst BlueCross BlueShield

Job Description:

PURPOSE:
Responsible for the attainment, effective management, and profitability of a designated book of business. This position utilizes underwriting judgment and exercises a level of authority. Pricing concessions are permitted up to the designated level of authority without further review. This position works closely with Sales and Account Management to ensure that client needs are met without compromising the corporate objectives. This position is responsible for monitoring financial performance and apprising management as needed.

ESSENTIAL FUNCTIONS:

• Ensure the retention and profitability of existing business through the calculation of appropriate renewal rates. Utilizes all currently available information, factors and formulae to accurately predict future claims and non-claims expenses. Works closely with the senior level underwriters and management to provide alternate benefit plans, risk and/or funding arrangements. Update appropriate billing rate files, contracts, internal databases, etc. The renewal process includes the following requirements: completing group risk renewals, completing ASO/Stop Loss renewals, quoting alternate benefits designs, funding arrangements, provide clear documentation/file maintenance. Utilize the latest actuarial tables and factors. Performs settlement review as necessary.
• Support attainment of corporate sales and profitability goals through the completion of new business quotes (e.g. demographics, claims experience, benefit levels, contribution strategy, carrier history, etc.) and the development of appropriate new business rates. The new business quote process includes the following requirements: Completing basic (Demographically Rated) quotes. Completing Complex (Experience Rated) quotes. Completing Stop Loss and ASO quotes. Applying underwriting judgment when appropriate (with assistance from Management). Preparing RFP responses (with assistance from Senior Underwriters, Underwriting Consultants or Management). Meeting the stated close ratio goals, average turnaround time goals. Providing clear documentation and file maintenance. Using the latest actuarial tables and factors.
• Monitor financial performance of assigned book of business to provide advance notice of potential adverse outcomes to Underwriting Department management. Provide technical expertise and support to Account Managers regarding potential benefit changes and/or alternatives available to the account. Ensure account performance is accurately reflected on corporate financial statements and forecasts.
• Provide support to Sales and Account Management staff on Underwriting related issues. Provide support to Finance, Legal, Operations, etc. as requested. Necessary support includes the following items: Communicating and negotiating directly with prospects, existing accounts, brokers & consultants. Participation in conference calls with prospects, existing accounts, brokers & consultants (with assistance from Management). Attending meetings with prospects, existing accounts, brokers and consultants (with assistance from Management). Performing miscellaneous functions that support the department on as needed basis.
• Participate in formal and informal training activities to develop and enhance knowledge of underwriting methodologies, funding options, products, legislation, CareFirst competitors, and to ensure compliance with corporate and departmental policies. Necessary training includes the following items: Participation in internal and external courses. Providing Training Support, Mentoring and Coaching to Associate Underwriters. Becoming proficient in new underwriter tools and applications.
  Continuing to improve computer skills.
• Participate and have an active role in department special projects, while embracing change in a positive manner.
• Produces and monitors the issuance of Underwriting departmental reports for both internal management and external customers. Utilizes available data to isolate specific elements of account benefit plan performance and to support required rate actions as requested.

SUPERVISORY RESPONSIBILITY:
Position does not have direct reports but is expected to assist in guiding and mentoring less experienced staff. May lead a team of matrixed resources.

QUALIFICATIONS:

Education Level:Bachelor\’s Degree OR In lieu of a Bachelor\’s degree, an additional 4 years of relevant work experience is required in addition to the required work experience.

Experience:3 years underwriting experience in group health, medical, ancillary benefits and/or pharmacy

Preferred Qualifications:

• Experience in the health insurance industry, knowledge of medical and ancillary products, experience with fully and self-insured arrangements.

Knowledge, Skills and Abilities (KSAs)

• Individual must be knowledgeable of risk selection and pricing methodologies used within the health insurance industry.
• Individual must also have knowledge of industry laws and regulations, products, benefit plan designs, market trends and alternate funding arrangements.
• Good written and oral communication skills, preferably including the ability to explain complex topics to diverse and potentially hostile audiences.
• Strong PC skills and be proficient in Microsoft Suite of products.
• Must be able to meet established deadlines and handle multiple customer service demands from internal and external customers, within set expectations for service excellence. Must be able to effectively communicate and provide positive customer service to every internal and external customer, including customers who may be demanding or otherwise challenging.

Salary Range:$58,824 – $116,831

Salary Range Disclaimer

The disclosed range estimate has not been adjusted for the applicable geographic differential associated with the location at which the work is being performed. This compensation range is specific and considers factors such as (but not limited to) the scope and responsibilites of the position, the candidate\’s work experience, education/training, internal peer equity, and market and business consideration. It is not typical for an individual to be hired at the top of the range, as compensation decisions depend on each case\’s facts and circumstances, including but not limited to experience, internal equity, and location. In addition to your compensation, CareFirst offers a comprehensive benefits package, various incentive programs/plans, and 401k contribution programs/plans (all benefits/incentives are subject to eligibility requirements).

Department

CareFirst BlueCross BlueShield is an Equal Opportunity (EEO) employer. It is the policy of theCompany to provide equal employment opportunities to allqualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, protected veteran or disabled status, or genetic information.

Where To Apply

Please visit our website to apply:www.carefirst.com/careers

Federal Disc/Physical Demand

Note: The incumbent is required to immediately disclose any debarment, exclusion, or other event that makes him/her ineligible to perform work directly or indirectly on Federal health care programs.

PHYSICAL DEMANDS:

The associate is primarily seated while performing the duties of the position. Occasional walking or standing is required. The hands are regularly used to write, type, key and handle or feel small controls and objects. The associate must frequently talk and hear. Weights up to 25 pounds are occasionally lifted.

Sponsorship in US

Must be eligible to work in the U.S. without Sponsorship

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