Healthcare Accounting Analyst (Medicaid Finance & Policy)

Milliman’s Medicaid Finance and Policy Practice is seeking individuals to assist in providing analytical and financial reporting support for healthcare finance and payment rate development projects. This role is ideal for an early-career professional with a strong accounting and data analytics background who is looking to apply their skills in a dynamic consulting environment focused on Medicaid and other public healthcare programs. Team members in this role will work closely with CPAs, actuaries, and policy experts on initiatives that influence how healthcare providers are funded and reimbursed. It is an excellent opportunity for someone who enjoys analytical work, financial reporting, problem solving, and learning the intersection of healthcare finance and payment rate development.

In this role, the individual will support analyses related to healthcare financial reporting, provider cost reporting, reimbursement, and rate development. Responsibilities may include reviewing financial statements and cost report data, preparing reconciliations and supporting schedules, analyzing trends in provider costs and utilization, and assisting with the development of client-ready exhibits and reports.

Who We Are

Milliman’s Medicaid Finance and Policy Practice serves state Medicaid agencies and a wide variety of organizations significantly impacted by Medicaid reimbursement and funding, including hospital associations and safety net hospital systems. The practice is affiliated with the broader Milliman Medicaid Consulting Group consisting of 600+ professionals, including actuaries, healthcare consultants, attorneys, and statisticians.

Responsibilities

• Assist with financial and analytical support for Medicaid reimbursement, rate setting, and provider payment design engagements
• Analyzing healthcare financial and operational data, including:
  • Provider cost reports and other cost survey data
  • Financial statements and supporting schedules
  • Claims and encounter datasets
  • Utilization and trend data
  • Publicly available data including Medicare cost reports, fee schedules, and wage data

• Review, validate, and summarize provider-submitted financial and cost report information
• Support the development of reimbursement models and rate setting analyses for a variety of provider types
• Prepare Excel-based models, reconciliations, and supporting exhibits used in client deliverables
• Prepare technical documentation, client reports, and presentation materials summarizing methods, assumptions, and findings
• Collaborate with team members to solve complex financial and operational challenges
• Assist with healthcare policy and reimbursement research related to provider payment methodologies and funding strategies
• Perform ad hoc analysis and reporting as needed

Qualifications

Required qualifications for the positions are:

• Bachelor’s Degree in Accounting, Finance, Healthcare Administration, or related field
• 2+ years of relevant experience in accounting, audit, financial analysis, healthcare finance, or reimbursement
• Experience analyzing and reconciling financial, operational, or claims-related data
• Advanced Excel skills, including experience with large datasets, reconciliations and complex formulas. Examples of complex formulas include:
• SUMIFS
• INDEX/MATCH or XLOOKUP
• Nested IF statements
• Macro use and development (up to full VBA coding)
• Experience in one or more of the following:
• Healthcare accounting and financial reporting
• Cost reporting
• Medicaid or Medicare payment analysis
• Strong attention to detail and ability to perform structured, detail-oriented analytical work
• Ability to communicate technical financial concepts clearly, both verbally and in writing
• Ability to conduct research, interpret reporting requirements, and summarize findings effectively
• Experience with SQL, SAS, R, Python, or similar programming languages and tools

Strongly preferred qualifications for this position are:

• Experience providing consulting services to state Medicaid or other health and human services agencies, or other types of public or private healthcare-related entities
• Certified Public Accountant (CPA), Certified Management Accountant (CMA), or Certified Healthcare Financial Professional (CHFP)

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.

Location

This position is based out of the Milliman office in Chicago, IL. Remote candidates anywhere in the US will be considered. This job posting is expected to close on August 17, 2026.

Compensation

The overall salary range for this role is $78,800 - $145,130. For candidates residing in:

• Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Pennsylvania, Virginia, Washington, or the District of Columbia the salary range is: $90,620 - $145,130.
• All other locations the salary range is $78,800 - $126,200.

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.
• Employee Assistance Program (EAP) – Confidential support for personal and work-related challenges.
• 401(k) Plan – Includes a company matching program and profit-sharing contributions.
• Discretionary Bonus Program – Recognizing employee contributions.
• Flexible Spending Accounts (FSA) – Pre-tax savings for dependent care, transportation, and eligible medical expenses.
• Paid Time Off (PTO) – Begins accruing on the first day of work. Full-time employees accrue 15 days per year, and employees working less than full-time accrue PTO on a prorated basis.
• Holidays – A minimum of 10 observed holidays per year.
• Family Building Benefits – Includes adoption and fertility assistance.
• Paid Parental Leave – Up to 11 weeks of paid leave for employees who meet eligibility criteria.
• Life Insurance & AD&D – 100% of premiums covered by Milliman.
• Short-Term and Long-Term Disability – Fully paid by Milliman.

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.

Equal Opportunity

All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.

No recruiters please.

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