Pharmacy Benefits Claims Analyst

We are looking for a Pharmacy Benefits Claims Analyst for our growing practice. Pharmacy benefits consulting work is, by nature, constantly changing and rarely routine. Applicants must have a deep understanding of pharmaceuticals and pharmacy benefits management (PBM) and feel comfortable working in an environment that requires attention to detail, collaboration, integrity, and adaptability.

Who We Are

Independent for over 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.

Milliman invests in skills training and career development and gives all employees access to a variety of learning and mentoring opportunities. Our growing number of Milliman Employee Resource Groups (ERG’s) are employee-led communities that influence policy decisions, develop future leaders, and amplify the voices of their constituents. We encourage our employees to give back to their varied professions, including leadership in professional organizations. Please visit our web site (https://www.milliman.com/en/social-impact) to learn more about Milliman’s commitments to our people, inclusion, and sustainability.

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.

What You Will Do

In this role, you will:

• Design and conduct data-driven analyses using pharmacy claims data and complex modeling.
• Participate actively as a member of a multi-disciplinary analytics team, fostering the sharing of relevant information to help identify creative solutions to complex problems.
• Explain results of analyses to internal teams and provide valuable insights, both orally and in clear, concise client reports.
• Stay current on industry trends, regulations, and best practices in pharmacy benefit management.
• Contribute to the development of innovative methodologies and tools for pharmacy claims analytics.

What We Are Looking For

Professional Qualifications

• Minimum of 4 years of PBM or healthcare analytics experience including at least 2 years of experience specific to PBM analytics.
• Working knowledge of Microsoft Office suite, including proficiency in Excel and SQL Server.
• Proficiency working with and explaining movements in key PBM performance indicators and pharmacy claims statistics.
• Knowledge of formularies, pharmacy claims data and their nomenclatures, including NDC, AWP, PBM, WAC, etc.
• Knowledge of claims data and how these manifest in claim adjudication and downstream analyses.

Personal Qualifications

• Strong time management and people management skills.
• Experience working in a dynamic environment, demonstrating adaptability and integrity.
• Strong technical communication skills, written and oral.

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. 

The Team

The San Diego Health practice includes employees with diverse areas of experience and expertise in the pharmacy space. Current employees include those that have worked as actuaries, PBM analysts/consultants, pharmacists, and pharmacy technicians.

Location

This role is based out of the Milliman office in San Diego, California, but candidates hired into this role may work remotely anywhere in the US. The expected application deadline for this job is June 22, 2026.

Compensation

The overall range for this role is $71,700 - $131,905. For candidates residing in:

• Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Pennsylvania, Virginia, Washington, or the District of Columbia the range is $82,455 - $131,905.
• All other locations the 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. 

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.<