In 2005, ShawHankins began working with Milliman, a firm of consultants and actuaries serving the full spectrum of business, governmental and financial organizations.
Milliman has performed valuable actuarial studies for clients of ShawHankins in the areas of healthcare provider discounts. Identifying the level of discounts our clients are currently receiving, and projecting future discount levels which could be realized by a change in networks, assists us in our ability to reduce healthcare costs for our clients.
ShawHankins administers the employee benefit plans for many public entities such as city and county governments. These public entities frequently offer post-retirement benefits to their employees and are subject to new legislation known as GASB 45. Understanding the timing and the requirements of these statements included in the Government Accounting Standards Board (GASB) is a valuable service to our clients. GASB 45 requires these organizations to disclose certain post-retirement benefits and liabilities as well as define specific parameters for their determination.
With assistance from Milliman, we can help our clients in reducing this future liability by making fundamental changes in these benefits.