Product Manager IV: Individual and Family Business
Company: Medica
Location: Minnetonka
Posted on: January 25, 2025
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Job Description:
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)
Keywords: Medica, St. Paul , Product Manager IV: Individual and Family Business, Executive , Minnetonka, Minnesota
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