Health Insurance Underwriter Job Description [Updated for 2025]

In the era of affordable healthcare, the role of health insurance underwriters has never been more crucial.

As the health insurance industry evolves, the need for proficient individuals who can evaluate, interpret, and manage health insurance policies continues to grow.

So, what’s really expected from a health insurance underwriter?

Whether you are:

• A job applicant seeking to understand the core of this position,
• A recruiter outlining the perfect candidate,
• Or merely fascinated by the intricacies of health insurance underwriting,

You’ve come to the right place.

Today, we present a customizable health insurance underwriter job description template, designed for easy posting on job boards or career sites.

Let’s delve right into it.

Health Insurance Underwriter Duties and Responsibilities

Health Insurance Underwriters are responsible for determining the risk of insuring a potential policyholder.

They analyze various factors such as medical history, occupation, and lifestyle to determine the extent of risk the insurance company is being exposed to.

Their main duties and responsibilities include:

• Evaluating insurance applications to determine an applicant’s risk profile
• Reviewing medical reports, data and other records to assess the risk involved in insuring a potential policyholder
• Assessing the likelihood of a claim being made by analyzing statistical data
• Determining the appropriate premium rates based on the risk assessment
• Assisting in the development of insurance policies that match the needs of the policyholder while balancing the risk for the insurance company
• Maintaining accurate and detailed records of policies underwritten and decisions made
• Communicating with brokers and agents to gather more information if necessary
• Keeping abreast with the changes in legislation and regulations that may affect the insurance industry
• Revisiting policies on a regular basis and adjusting coverage and premiums as necessary

 

Health Insurance Underwriter Job Description Template

Job Brief

We are searching for a detail-oriented, analytical health insurance underwriter to join our team.

The health insurance underwriter’s responsibilities will include analyzing and verifying applications, determining policy terms and rates, and assessing risks to ensure they align with the company’s underwriting protocols.

The ideal candidate is familiar with the medical underwriting process, possesses excellent decision-making skills, and is able to think critically to mitigate risk.

 

Responsibilities

• Review applications for health insurance, gather information and assess potential risks
• Determine approval or rejection of applications based on risk analysis
• Set premium rates and policy terms according to assessed risk
• Coordinate with agents and brokers to gather additional information or to explain underwriting decisions
• Keep abreast with changes in medical knowledge, insurance regulations, and company underwriting policies
• Maintain records and prepare reports for each application
• Work closely with other departments to ensure a smooth underwriting process

 

Qualifications

• Proven experience as an underwriter in the health insurance industry
• Knowledge of health insurance underwriting procedures and risk assessment
• Strong analytical and decision-making skills
• Proficient in using underwriting software
• Excellent communication and negotiation skills
• Attention to detail and the ability to think critically
• Ability to work under pressure and meet tight deadlines
• BSc degree in Business, Finance, or relevant field

 

Benefits

• 401(k)
• Health insurance
• Dental insurance
• Retirement plan
• Paid time off
• Professional development opportunities

 

Additional Information

• Job Title: Health Insurance Underwriter
• Work Environment: Office setting with occasional travel required for client meetings or professional development.
• Reporting Structure: Reports to the Underwriting Manager or Risk Assessment Director.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $65,000 minimum to $95,000 maximum
• Location: [City, State] (specify the location or indicate if remote)
• Employment Type: Full-time
• Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
• Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does a Health Insurance Underwriter Do?

Health Insurance Underwriters work for insurance companies in the health sector.

They evaluate the risk and exposures of prospective clients who are looking to purchase insurance policies.

Their main responsibility is to decide whether to offer insurance to prospective clients and under what terms.

They determine this by calculating the potential financial risk associated with insuring a particular individual.

This process involves analyzing medical histories, health risk factors, and statistical data.

Health Insurance Underwriters also work on policy renewal and amendments, helping to re-evaluate the risk of the insured party when circumstances change.

They may also be involved in the pricing of insurance policies, ensuring that the premiums charged are proportionate to the risk taken on by the insurance company.

Another aspect of their role is to work closely with brokers and agents, providing them with competitive insurance quotes.

They must also stay abreast of any changes in legislation and insurance regulations that may impact their company’s offerings.

Finally, they play a crucial role in maintaining profitability and sustainability of the insurance company by avoiding excess losses through careful risk assessment.

 

Health Insurance Underwriter Qualifications and Skills

A competent Health Insurance Underwriter should possess a range of skills and qualifications that will enable them to excel in their role, these include:

• Strong analytical skills to evaluate and process insurance applications, assess the risks involved, and determine policy terms
• Extensive knowledge of medical terminology, healthcare systems, and health insurance policies
• Detail-oriented and proficient in numerical analysis for premium rate calculations
• Excellent decision-making skills to accept, reject, or modify potential clients based on risk assessment
• Strong interpersonal and communication skills to interact with agents, applicants and medical professionals
• Expertise in using underwriting software and digital tools to process and store client data securely
• Understanding of compliance regulations and legal requirements in the insurance industry
• Ability to maintain patience and composure under pressure during negotiation processes
• Knowledge of current market trends and the ability to predict future trends in health insurance

 

Health Insurance Underwriter Experience Requirements

To begin a career as a Health Insurance Underwriter, typically an entry-level candidate may need 1 to 2 years of experience in a related field such as insurance sales, health services, or a role in insurance administration.

This experience could be gained through internships, part-time roles, or even through certain educational programs.

For those seeking to advance in the field, candidates with 3 to 5 years of experience are often required.

This would generally involve working in an underwriting role, evaluating health insurance applications, and assessing risk.

Experience with statistical analysis, medical data interpretation, and knowledge of state and federal insurance regulations are also highly valuable.

For senior roles in health insurance underwriting, more than 5 years of experience is typically expected.

This could include experience in managing a team of underwriters or leading a department in a larger insurance firm.

Such candidates are expected to have a strong understanding of complex health insurance policies, industry standards, and regulatory requirements.

They should also have a proven track record of making sound underwriting decisions.

In addition to the above, professional certification such as Chartered Property Casualty Underwriter (CPCU) or Associate in Commercial Underwriting (ACU) may provide an advantage in the job market.

 

Health Insurance Underwriter Education and Training Requirements

Health Insurance Underwriters generally require a bachelor’s degree in finance, business, economics, or a related field.

They require an understanding of risk assessment, health insurance policies, and industry regulations.

Coursework in mathematics, economics, finance, and business law may prove beneficial.

Many employers prefer candidates with previous experience in insurance or underwriting.

For entry-level positions, this experience can sometimes be gained through internships or work-study programs.

Some positions may require Health Insurance Underwriters to have advanced degrees or designations.

For instance, a Chartered Life Underwriter (CLU) designation or a Registered Health Underwriter (RHU) designation may be preferred.

Furthermore, most employers require Health Insurance Underwriters to be licensed.

Although licensing requirements vary by state, they typically include passing an exam.

Continuing education is essential in this field to keep up with changes in insurance regulations and guidelines.

Many underwriters attend workshops and seminars to stay updated.

In addition, strong computer skills are essential as Health Insurance Underwriters need to use underwriting software.

Insurance underwriters who show competence and leadership may advance to senior underwriter or underwriting manager positions.

 

Health Insurance Underwriter Salary Expectations

A Health Insurance Underwriter can expect to earn an average salary of $70,020 (USD) per year.

The actual salary can fluctuate based on factors such as industry experience, educational background, and the city or state in which they are employed.

 

Health Insurance Underwriter Job Description FAQs

What skills does a Health Insurance Underwriter need?

Health Insurance Underwriters should have strong analytical skills as they have to evaluate various factors to determine the risk of insuring a potential policyholder.

They should also have good decision-making skills to make accurate judgments about insurance applications.

Communication skills are also essential as they often have to interact with other insurance professionals, brokers, and policyholders.

Knowledge about medical terminologies and understanding the health insurance industry is crucial for this role.

 

Do Health Insurance Underwriters need a degree?

Yes, most employers prefer candidates with a bachelor’s degree in fields such as finance, economics, or business.

Some underwriters start their careers as trainees or assistant underwriters.

They may also choose to earn certification from professional organizations which can demonstrate commitment to the field and enhance job prospects.

 

What should you look for in a Health Insurance Underwriter resume?

When reviewing a Health Insurance Underwriter’s resume, look for a strong background in analytical and decision-making skills.

Previous experience in underwriting or the insurance industry can be a big plus.

Certifications from recognized professional organizations like the Chartered Property Casualty Underwriter (CPCU) or the Associate in Personal Insurance (API) also add value.

 

What qualities make a good Health Insurance Underwriter?

A good Health Insurance Underwriter has a keen eye for detail, is able to analyze complex information, and has the ability to make sound decisions.

They need to be comfortable working with numbers and must be able to communicate effectively with different stakeholders.

High levels of integrity and confidentiality are also vital, as they handle sensitive personal health information.

 

Is it difficult to hire Health Insurance Underwriters?

The difficulty in hiring Health Insurance Underwriters can vary depending on the specific requirements of the role and the job market conditions.

However, since the role requires a unique blend of analytical, decision-making, and communication skills, finding the right candidate might be challenging.

Offering competitive compensation packages, professional development opportunities, and a supportive work environment can help attract qualified candidates.

 

Conclusion

So, there we have it.

Today, we’ve lifted the veil on what it truly entails to be a health insurance underwriter.

And here’s the thing:

It’s not just about evaluating risk.

It’s about sculpting the landscape of healthcare, one policy at a time.

Armed with our definitive health insurance underwriter job description template and real-world examples, you’re ready to move forward.

But why halt your journey here?

Probe further with our job description generator. It’s your next step towards meticulously designed job listings or polishing your resume to perfection.

Remember:

Every policy you underwrite contributes to the larger framework of healthcare.

Let’s shape that future. Together.

How to Become a Health Insurance Underwriter (Complete Guide)

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