Soaring costs of healthcare, a more dynamic workforce, and regulatory changes are creating new demands and opportunities for employers who provide health and welfare benefits.
For more than 40 years, Milliman has been providing insurers with its annually updated Health Cost Guidelines™, which incorporate more than $2 million of annual research investment. Today, more than 90 insurers rely on Milliman to provide the most up-to-date understanding of health costs. We provide this same knowledge to our clients who seek health and welfare consulting. The result is a level playing field, where clients can more meaningfully evaluate their benefits plans and negotiate more powerfully with insurers.
In addition to Health Cost Guidelines, we provide reports, indexes, and models that analyze trends associated with clinical best practices, managed care organizations, hospitals, long-term care, and other elements of health and welfare benefits.
Milliman's health and welfare consultants provide:
- evaluation of benefit costs and plan design
- assistance with healthcare cost management
- long-term projections and valuations of health and welfare liabilities
- benefit communications, outsourcing, and compliance
- guidance on consumer-driven healthcare plans
Evaluating provides insights on value, affordability
We perform cost-management evaluations that help clients compare their healthcare networks and third-party administrators against others to find out whether they are getting the most value from their programs. We use our frontline knowledge and simulations to project the effects of health benefits modifications and evaluate the risks of alternative plans such as HMOs, PPOs, and POS programs. We helped one large life financial company save more than $10 million annually through regionalized pricing, competitive HMO contracting, and plan consolidation. We are dedicated to maximizing the value of our clients' health and welfare plans.
