Higher education consulting
Trusted resources for higher education
Higher education is different. It’s also changing faster than ever. Make sense of this increasingly complex landscape with Milliman’s actuarial and benefits consulting support. Our experts provide service to more than 200 institutions and Millman’s Higher Education Community of Practice, helping us better understand and address the needs of higher education.
Using exclusive tools like Milliman HigherEDGE™, you will gain actionable insights based on deep and current data–allowing you to build a sound strategy to execute with confidence.
Milliman higher education consulting solutions
Health and group benefits
With deep and broad health and benefits strategy consulting experience across a wide range of higher education institutions and with expertise informed by continuous research in emerging benefit trends and state-of-the-art data analytics, we are uniquely situated to help you provide leading, cost-effective benefit programs to faculty and staff.
Retirement benefits
Milliman has extensive experience in all aspects of retirement consulting. Our actuaries are leaders in their fields, and our numerous monthly and yearly pension studies — including for both the private sector and public sector — are regularly cited by major news outlets. We help clients stay on track to meet their goals and business objectives in the face of shifting markets and regulations. Milliman has a demonstrated track record of the highest work quality and successful client relationships.
Compensation/Total rewards
In full employment conditions or in regions where higher education competes aggressively for talent, you need compensation and total rewards strategies designed to win the ever-evolving competition for talent. We are skilled in partnering with HR, university administration, faculty groups, board committees, and staff advisory councils to create successful compensation plans and systems that fit your institution’s needs — today and for the future.
Workforce planning and HR transformation
Human resources at universities, colleges, and university systems are now more critical than ever to the successful functioning of their institutions. At the same time, they face a diverse number of pressures — and opportunities — to manage costs, improve service delivery, strengthen risk management, and build faculty and staff engagement. Our higher education workforce planning and HR transformation consultants recognize and meet this critical set of needs with holistic, people-sensitive, and rigorously metric-based approaches. We take an agile approach to help our clients optimize costs, manage risks, and create workforce plans that enable sustainable value creation.
Student health
Colleges and universities want to keep their students healthy and enrolled. Milliman understands the critical student health challenges higher education institutions face: affordability, quality, compliance, and population health. We can help you transform these challenges into opportunities that will improve student health and student retention, and improve your institution’s insurance offering.
Communications
From the introduction of new programs to complex Summary Plan Documents to large-scale, complex change management, our communications team can help you connect with faculty, staff, administration, and alumni. We bring decades of relevant experience to any higher education communications challenge. We customize our solutions to your needs from “over the shoulder” review to complete ownership of a major communication effort.
Customized benefits administration
Milliman’s “MyBenefitChoice” platform offers state-of-the-art, customizable benefit administration services. This unique total benefits administration solution is different from our competitors. Able to be designed to meet every client’s specific needs, each service model is grounded in a deep understanding of the benefits administration challenges your college or university faces with the objective of providing flexible solutions and options; your institution will not be “pigeonholed” in to a pre-determined model or platform unresponsive to your specific needs.
Milliman HigherEDGE – Higher Education Sector
Design your institution’s employee benefits to achieve your objectives in a competitive marketplace. Milliman HigherEDGE™ is a benefits assessment and benchmarking report focused exclusively on higher education.
Milliman higher education consulting insight
Milliman products supporting higher education institutions
Milliman Payer Network Check
Make high-quality financial comparisons of provider medical reimbursement rates across large insurance carriers.
$name
MedInsight
Nutzen Sie die branchenführende Plattform für Data Warehousing und Analytik im Gesundheitswesen.
MyRxConsultant: Wasteful Drug Report
Milliman’s proprietary Wasteful Drug Report leverages your pharmacy data to monitor your plan’s utilization and captures wasteful drug spending. The near-real time report allows employers to mitigate unnecessary spending and save.
CORAL
Estimate actuarial equivalent relative values for health plans based on variables such as copays, deductibles, and coinsurance.
Milliman Health Trend Guidelines
Get accurate monthly information on healthcare expenditures and utilization for individuals enrolled in U.S. commercial insurance plans.
Milliman DEPTH
Optimize your benefits cost management strategy.
Milliman Online Total Rewards (OTTER)
OTTER allows employers to communicate employees’ personalized benefits and pay information all in one place.