The addition of Milliman’s services extends Workscape’s health and welfare benefits administration technologies and services offering, so that it can now help to meet the DB/DC needs of a client’s workforce and retirees, according to a press release.
Milliman’s total retirement outsourcing (TRO) service helps employers to eliminate the paperwork and expense typically associated with DB/DC administration, while improving access to pension and other retirement-related information for employees, the company said. Through a Web portal, participants can view their 401(k) investments and pension plan details, make changes, and leverage powerful calculation and modeling tools, the announcement said.
From a health care benefits perspective, Workscape’s Web-based decision support tools help employees to select the health care plan that is best suited to their personal and financial needs; cost calculators drive greater participation in flexible spending account programs; and health risk assessments help employees to become more aware of their health condition and more proactive in addressing potential concerns, according to the news release.
Through the alliance, client organizations can also leverage the services of Workscape’s 24/7 U.S.-based employee support center to answer questions and assist with enrollment.