As trustees deal with rising costs and the endless complexities of the healthcare system, Milliman is well-positioned to help cut through the noise so health and welfare funds can focus on providing the most efficient and effective program of benefits.
Milliman is a leading healthcare consulting firm to medical carriers, health plans, pharmacy benefit managers, stop-loss carriers, health systems, and other providers of care. No other firm can match this depth or breadth in healthcare industry expertise.
For over 60 years, we have brought this expertise to health and welfare funds. Our client list is diverse and includes plans of all sizes, including some of the largest funds in the U.S. We work exclusively in the interest of our clients and this independence allows us to be objective and unbiased in our recommendations.
Our actuarial and consulting services for health and welfare funds include:
- Multi-year projections of plan costs, expenses, and reserves
- Recurring Experience Reports
- Retiree liability valuations (ASC Topic 965 Report)
- Medicare retiree program consulting and evaluation (MAPD, EGWP)
- IBNR, accumulated eligibility, and COBRA calculations
- Medicare Part D attestations (minimum value calculations)
- Competitive bidding/market checks of service providers (e.g., medical networks, PBMs, UM/UR providers)
- Benchmarking and strategic planning
- Population health and care management program/operations evaluation
- Benefit design modeling and data analytics
- Negotiation of rates and contractual provisions with benefit providers
- Contribution rate strategy
- Assistance during collective bargaining
- Restatement of plan documents and summary plan descriptions
- Drafting member communication material
- Providing updates on and potential impact of the ever changing legislative and marketplace environment