Product Manager IV: Individual and Family Business - Minnetonka Minnesota

Company: Medica
Location: Minnetonka, Minnesota
Posted On: 01/26/2025

DescriptionMedica's Product Manager IV: Individual and Family Business is responsible for the development, implementation, and management of a diverse portfolio of Individual & Family products across multiple states.
The Product Manager collaborates with various functional areas to assess market needs, feasibility for new and enhanced products, and manage regulatory filings at both state and federal levels. Key responsibilities include developing and implementing competitive IFB products, overseeing policy document development, ensuring timely CMS and state submissions, and maintaining the intent of product and plan design. This role requires close collaboration with segment leadership, sales, operations, compliance, legal, finance, pharmacy, underwriting, and actuarial teams to enhance market competitiveness and ensure proper product administration.
As an advanced-level professional, the Product Manager serves as a subject matter expert on product strategy, lifecycle activities and plan performance, particularly for accountable care organization (ACO) products. This includes direct engagement with external ACO leadership to improve product outcomes.
Additionally, the Product Manager contributes to strategic planning for Medica's Individual & Family product portfolio by managing strategic partnerships and collaborating with legal and governmental agencies, including CMS and State DOIs.
Key Accountabilities:

Lead product strategy and project teams to develop and deliver Individual & Family product solutions while collaborating with segment leadership to address issues and identify improvement opportunities
Serve as a subject matter expert on benefits, interpreting federal and state regulatory guidance (e.g., ACA, CMS) to ensure compliance and implement aligned policies
Analyze product areas to identify enhancements in benefits, networks, and formularies, collaborating with finance and actuarial teams to validate findings and recommend improvements
Maintain a strong understanding of Individual & Family products and the Affordable Care Act (ACA), competitors and market developments, along with familiarity with claims platforms and processes
Lead regulatory filings for Individual & Family products, ensuring benefit designs align with market trends and member needs while managing competitive intelligence for strategic insights
Oversee project costs, schedules, and scopes, ensuring timely compliance with contractual reporting requirements from state and federal governments
Communicate project status and key metrics across management levels, leading cross-functional teams to develop new programs and prioritize recommendations based on consumer demand.
Prepare and maintain comprehensive project documentation and summarize results for senior management
Utilize analytical skills to identify effective solutions, developing partnerships with internal sales and account management teams
Represent the segment in internal workgroups and lead external engagements with entities such as ACOs, state regulators, and brokers

Qualifications:


Bachelor's degree or equivalent experience in a related field
7 years of work experience beyond degree, including a minimum of 5 years of Product Management experience
Knowledge / experience implementing ACA & state regulations within individual and family or small employer health insurance product

Additional Experience, Skills, and Abilities:


Understanding of the overall customer experience and the product performance lifecycle
Ability to support other product segments as needed
Ability to perform tactical execution, identify areas of process improvement, and streamline processes
Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint, Outlook)
Detail-oriented
Strong interpersonal skills, with strong written and verbal communication skills
Ability to manage competing priorities and meet tight deadlines
Independent, self-driven professional

This position is a Hub role, which requires an employee to occasionally come onsite to Minnetonka, MN or Madison, WI office for applicable heads-up work. Frequency is determined by business need as decided by leadership.
The full salary range for this position is $85,000 - $145,700. Annual salary range placement will depend on a variety of factors including, but not limited to, education, work experience, applicable certifications and/or licensure, the position's scope and responsibility, internal pay equity and external market salary data. In addition to compensation, Medica offers a generous total rewards package that includes competitive medical, dental, vision, PTO, Holidays, paid volunteer time off, 401K contributions, caregiver services and many other benefits to support our employees.
The compensation and benefits information is provided as of the date of this posting. Medica's compensation and benefits are subject to change at any time, with or without notice, subject to applicable law.
Medica's commitment to diversity, equity and inclusion (DEI) includes unifying our workforce through learning and development, recruitment and retention. We consistently communicate the importance of DEI, celebrate achievements, and seek out community partnerships and diverse suppliers that are representative of everyone in our community. We are developing sustainable programs and investing time, talent and resources to ensure that we are living our values. We are an Equal Opportunity/Affirmative Action employer, where all qualified candidates receive consideration for employment indiscriminate of race, religion, ethnicity, national origin, citizenship, gender, gender identity, sexual orientation, age, veteran status, disability, genetic information, or any other protected characteristic.


Equal Opportunity Employer/Protected Veterans/Individuals with DisabilitiesThe 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) More...

    

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