self-funded

This episode features an interview with Serafina Miller, Senior Principal Consultant at Mercer. Serafina has been in the industry for over two decades, specializing in group account management for multiple industries like banking, biotechnology, transportation, engineering firms, and law firms. At Mercer, Serafina partners with employers to ensure their employee benefits programs integrate with compensation strategies and business objectives, as well as aligning with the organizations’ DEI strategies.

In this episode, Sasha sits down with Serafina to discuss designing inclusive benefits plans, why self-funding is a win-win for finance and benefits teams, and the importance of provider alignment.

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“A lot of conversations in these last handful of years about provider alignment to the communities in which they serve, and really pushing insurance carriers to work on their provider diversity. Hiring more Black, Latine physicians, transgender physicians, non-binary physicians, because there are certain conversations that are much easier to have because there's an alignment of life experience. There's a believability factor that's built into that dynamic. It encourages more people to get more engaged in their healthcare. We're so focused on preventive care, if we have more diverse physicians, people will get more engaged in their preventive care and ideally live, the goal is longer, healthier, and therefore, happier lives.” – Serafina Miller

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Episode Timestamps:

*(00:32): Serafina dives into Mercer 

*(05:54): What size groups are moving to self-funded

*(08:47): Ancillary and PTO trends in the benefits space

*(12:09): What family-building, fertility, and reproductive health benefits look like

*(18:00): Components of an inclusive benefits program

*(26:46): The importance of virtual care

*(28:56): Serafina’s advice for those new to the industry

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Links:

Connect with Serafina on LinkedIn

Connect with Sasha on LinkedIn

Learn more about Collective Health

With Jill James, the founder and CEO of The Jill James, a strategy and operations consulting company that supports self-funded executives in building and running profitable companies. By experience, Jill is a business strategist and Chief Operating Officer. She helps founders go from early concept to $5-$10 million without giving up equity. She has done most of the non-engineering jobs in SaaS and services companies. She has also been a personal financial planner, worked in investment banking, and has an MBA in entrepreneurship and strategy from Chicago Booth.

In our conversation, Jill shares her insights on money mindset in entrepreneurship, emphasizes the significance of starting and scaling your business with a focus on aligning with your purpose and values over profitability, highlights the importance of considering legal implications in decision-making for your business, and recommends seeking advice from the right professional advisors, particularly for entrepreneurs who may not have a clear understanding of their personal and business finances.

To listen to the podcast and access the show notes and any other resources mentioned in this episode, visit us at www.legalwebsitewarrior.com/podcast.

This episode features an interview with John Meister, Principal and Senior Vice President of Employee Benefits at Newfront. John provides top-tier consulting, creative strategies, and employee advocacy on behalf of his clients nationwide. Prior to Newfront, John spent five years leading Client Strategy and Execution at Woodruff Sawyer and held Employee Benefits roles at One Digital and Burnham Benefits.

In this episode, Sasha sits down with John to discuss transitioning to self-funded solutions, key components of a great member experience, and building point solutions into benefits programs.

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“When I talk with some companies that are unfamiliar with self-funding, really, they think it's just this totally apples and oranges approach. I try to just explain to them, ‘Hey, built into your premiums right now, we can take a look at what the insurance companies are doing for self-funding. They have stop loss built-in. They have their PBMs built-in. And there’s just layers of admin costs and profit built into each of these that then comprises your premium rate that you're getting charged.’ Just by trying to compare it to what they know right now, to then what it would be to self-funding, that also, I think, is usually a big light-bulb moment for a lot of clients. Just to feel like, ‘Oh, this isn't actually that much different than what I'm doing.’ It's just, ‘Hey, we're going to set the rates for what we say you should budget for. It's going to be that set number that you're used to.’ Conversations like that usually are the foundation to then go on.” – John Meister

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Episode Timestamps:

*(01:13): John explains Newfront 

*(08:19): How John talks to his clients about moving to self-funded solutions

*(24:14): The key components of a great member experience for clients

*(28:49): John discusses point solutions and the difference it makes in benefits programs 

*(31:51): John’s advice to those new to the industry

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Links:

Connect with John on LinkedIn

Connect with Sasha on LinkedIn

Learn more about Collective Health

👉 Your journey to financial wisdom and entrepreneurial success starts now!

Join Eric Nghiem, Tony J. Hughes, Amanda Holmes, and a community of like-minded professionals who are ready to make a real impact in the brokerage business. Reserve your spot today for High Stakes Advising 2023 - The #1 Sales & Marketing Event For Healthcare Brokers. 

Click the link below to secure your place at this must-attend event.

📅 Date: Aug 14-15, 2023 
📍 Location: Hard Rock Hotel & Casino, Florida
🔥Register NOW for High Stakes Advising 2023🔥 ➡️
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We're excited to present our latest episode of the Heads Up Adviser Podcast, titled "Money Smart" with the one and only Eric Nghiem! 💰🎧

A seasoned entrepreneur, who's seen success in multiple industries, Eric brings his deep insight and experience in the tax and financial planning sectors to the table. With a mission to empower entrepreneurs to upscale their businesses, Eric is all about making money work FOR YOU. 💪💼

In this captivating episode, Eric will unveil smart strategies to increase your revenue, expand your business, and decode why some brokers, despite making a decent income, still find themselves struggling. 📈🧐

Get ready to redefine your relationship with money. Unearth new ways to make your money work harder, so you don't have to.

Don't just earn; learn to grow your wealth with Eric's invaluable wisdom and insights! 💡

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Want more Heads Up Adviser? 

🏆 Become an Insider → https://headsupadviser.com 

🎙️ Podcast → https://apple.co/3giotC5 | https://spoti.fi/3VhRfBg 

💡 Blog → https://bit.ly/headsupadviser

📺 Youtube → https://www.youtube.com/headsupadviser

🌐 Facebook Group → https://bit.ly/huagroup

📖 Broker's Guide → https://virtuealliance.com/28-reasons/

🎓 Webinar→ https://bit.ly/sfstrategy2023

🪩 Work with us - https://virtuealliance.com/demo/

CLICK HERE to download "Broker's Guide To Meeting The CFO" from Virtue Health and Gary Bender >> 

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Meet Chad Burdo at the #1 Sales & Marketing Event For Healthcare Brokers - High Stakes Advising 2023
🗓️ AUG 14-15 | 2023
🔖  Hard Rock Hotel and Casino, Hollywood, FL
 

Tired of the same old "save 15% in 15 minutes" pitch? So are your corporate clients! Luckily, Chad is here to save the day. With years of experience under his belt, he's seen it all and overcome every challenge this industry throws at him. 

In our conversation, Chad shares his insider tips and strategies for standing out in the health insurance brokerage world and effectively converting those 'been-there-heard-that' prospects. 

This is an episode that will arm you with the knowledge and tools you need to revolutionize your client approach. Don't miss out on this game-changer episode, available now!

We covered: 

✔️ Revamp your client approach with effective communication

✔️ Chad Burdo's unique approach to bypassing the clichéd 'save 15% in 15 minutes' pitch

✔️ The key strategies to overcome ubiquitous challenges in the health insurance brokerage industry

____ 

Want more Heads Up Adviser? 

🏆 Become an Insider → https://headsupadviser.com 

🎙️ Podcast → https://apple.co/3giotC5 | https://spoti.fi/3VhRfBg 

💡 Blog → https://bit.ly/headsupadviser

📺 Youtube → https://www.youtube.com/headsupadviser

🌐 Facebook Group → https://bit.ly/huagroup

📖 Broker's Guide → https://virtuealliance.com/28-reasons/

🎓 Webinar→ https://bit.ly/sfstrategy2023

🪩 Work with us - https://virtuealliance.com/demo/

Click Here To Join The #1 Sales And Marketing Event For Healthcare Brokers - High Stakes Advising 2023 

🗓️ AUG 14-15 | 2023
🔖  Hard Rock Hotel and Casino, Hollywood, FL

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Click here to download "2023 Milliman Medical Index" >> 
Click here to download Sunlife Report - "High-Cost Claims And Injectable Drug Trends Analysis."
 

🎙️ Tune in to our latest podcast episode: "2023 Reports For Your Health Insurance Renewal Meeting"! 📈💰

Discover the secrets behind high-cost claims and gain insights into the reasons for health insurance increases for corporate clients. 

John Sbrocco and Craig Lack dive deep into the world of healthcare costs with our breakdown of the medical index—a valuable measure of changes and trends affecting a hypothetical American family of four. Get the numbers you need to help your prospects make informed decisions and stay ahead of the curve. 💪💡

Here's what we cover: 

✔️ High-Cost Claims and Injectable Drug Trends Analysis
✔️ 2023 Milliman Medical Index
✔️ How to use the reports at your self-funding renewal meeting

____ 

Want more Heads Up Adviser? 

🏆 Become an Insider → https://headsupadviser.com 

🎙️ Podcast → https://apple.co/3giotC5 | https://spoti.fi/3VhRfBg 

💡 Blog → https://bit.ly/headsupadviser

📺 Youtube → https://www.youtube.com/headsupadviser

🌐 Facebook Group → https://bit.ly/huagroup

📖 Broker's Guide → https://virtuealliance.com/28-reasons/

🎓 Webinar→ https://bit.ly/sfstrategy2023

🪩 Work with us - https://virtuealliance.com/demo/

If you're like most employers, you're constantly making decisions about the best way to allocate scarce resources. This is a difficult and high-stakes task that has only been made more important by rising costs, a down economy, and a red-hot labor market. OneDigital is here to help with the Moneyball Benefits Podcast.

In this series, Director of Compliance and Innovation Scott Wham takes inspiration from the "Moneyball" philosophy that revolutionized professional sports in the 2000s and applies it to the world of human capital management. In episode two, Bob Simeone returns to discuss the pros and cons of self-funding your employer health insurance plan.

Want more Heads Up Adviser?

🏆 Become an Insider → https://headsupadviser.com

🎙️ Podcast → https://apple.co/3giotC5 | https://spoti.fi/3VhRfBg

💡 Blog → https://bit.ly/headsupadviser

📺 Youtube → https://www.youtube.com/headsupadviser

🌐 Facebook Group → https://bit.ly/huagroup

📖 Broker's Guide → https://virtuealliance.com/28-reasons/

🎓 Webinar→ https://bit.ly/sfstrategy2023

🪩 Work with us -> https://virtuealliance.com/demo/

Some time ago, I was hanging out at the ranch with the legend of the self-funded insurance world - Ed Jacobson and convinced him to sit down and continue our previous conversation...

In "THE RANCH Part II" he dives deep into the most common concerns and excuses the prospects have, explains what the core mission of every broker is, and talks about the way TPAs hide profits.

Join the deeply informative and very entertaining episode of the Heads Up Adviser Show - "THE INSURANCE RANCH: PART II" with Ed Jacobson.

Key points of discussion:

✔️Health insurance: one wants to pay a dollar in and collect more

✔️ What is PPO, and why do prospects mistake it for a healthcare plan?

✔️ A TPA from a profitability standpoint & hidden profits

ℹ️ THIS THURSDAY - Use our deck and self-funded solutions for your competitive advantage, Win Self-Funded cases, and convert prospects from Fully Insured with ease. CLICK HERE TO REGISTER FOR THE WEBINAR

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"For years, people lived at almost double-digit growth. As long as you could grow, the market rewarded you. The growth hides a lot of errors. 

In today's reality, I see 2023 being worse than 2022. Some CFOs absolutely agree with me; we're all very pessimistic right now. 

We hear about 8.7% inflation; I would've said 13%-14% from what we see in the corporate world. So this is the time to question Status QUO, especially when it comes to the third biggest cost in organizations - healthcare."

Gary Bender founded "The CFO Solution" in 2015 with one goal in mind: to share and spread the best practices and processes for private company financial executives. He knows the tough problems CFOs are faced with because he's overcome them. 

Learn to shape the conversation with your prospects in this week's episode of the Heads Up Adviser Show with Gary Bender: "PITCH TO THE CFO." 
 

You will learn: 

✔️ The biggest challenges of 2023 for CFOs

✔️ People first. Inflation second. Pricing third. 

✔️ Key insights that will help you get CFO on your side

_____

Download Virtue Health Case Study -  400-Employee Healthcare Company Expanding Across the US
Implementing a partially Self-Funding plan with the Virtue Health Consortium resulted in a 28% premium reduction or $1,954,921.60 in savings. CLICK HERE TO DOWNLOAD THE FULL VERSION

ℹ️ THIS TUESDAY - Use our deck and self-funded solutions for your competitive advantage, Win Self-Funded cases, and convert prospects from Fully Insured with ease. CLICK HERE TO REGISTER FOR THE WEBINAR

When renewal season comes around, most employers are seeking the same thing – 💰cost savings. 💰

It's also that wonderful time of the year when your competitors start actively approaching your existing customers, putting you and your agency at risk during the renewal meeting.

What is the process behind the successful transition from one year to the next, and what are the possible scenarios you could face with the employer? 

Join John Sbrocco and Craig Lack for this week's episode of the Heads Up Adviser Show: "How To Handle A Self-Funded Renewal." 

CLICK HERE TO DOWNLOAD VIRTUE HEALTH CASE STUDY - 120-EMPLOYEE FAMILY-OWNED COMPANY. 
120 Employee Family Owned Company with 2 different plans had just got a 29% renewal rate from the fully insured carrier when they first reached out to our group. Employees – most of whom were living paycheck to paycheck – could no longer afford the overpriced and complicated healthcare plan. READ MORE >> 

NEXT STEPS: 
 

1. Join Heads Up Adviser Facebook Group 👉 https://bit.ly/37hJFyk

2. Visit Heads Up Adviser Website 👉 https://bit.ly/36cYv7C 

3. Subscribe on Youtube https://bit.ly/2QVutkY 

4. Subscribe and Listen to Heads Up Adviser Podcast https://apple.co/35GRMDk

We created Virtue Consortium to help you overcome each and every objection you will have with your prospects this fall. Learn how we help our top-performing brokers win new business, retain existing clients, and get an increased commission. 
Join Virtue Consortium LIVE Webinar with John Sbrocco this Tuesday, and discover "A New Strategy For Selling Self-Funding To Employers In 2023." Over 450 brokers registered. RESERVE YOUR SPOT NOW >> 

___________________

Download Redmond Sherwood's Case Study -  400-Employee Healthcare Company Expanding Across the US
Implementing a partially Self-Funding plan with the Virtue Health Consortium resulted in a 28% premium reduction or $1,954,921.60 in savings. CLICK HERE TO DOWNLOAD THE FULL VERSION

____________________

What does a broker do to earn an additional $100,000 a year? Let's see. Make hundreds of calls, hold dozens of meetings, spend weeks studying prospects' business, create new offers, or... 
Get a $100K raise from his existing projects after the first year of self-funding with Virtue Consortium Solution.

How is that even possible? John Sbrocco and our special guest for the show - Redmond Sherwood - answer this question in this week's episode - "WIN NEW BUSINESS with Redmond Sherwood." 

Redmond shares a powerful case study of how Virtue Consortium helped in winning a 400-employee company that got over $2M in savings and brought an unplanned $100K income to his agency. 

NEXT STEPS: 
 

1. Join Heads Up Adviser Facebook Group 👉 https://bit.ly/37hJFyk

2. Visit Heads Up Adviser Website 👉 https://bit.ly/36cYv7C 

3. Subscribe on Youtube https://bit.ly/2QVutkY 

4. Subscribe and Listen to Heads Up Adviser Podcast https://apple.co/35GRMDk

SHOW SPONSOR - VIRTUE ALLIANCE
Join the webinar "Group Purchasing Stop-Loss As Broker's Competitive Advantage in 2023." 
Tuesday, Sep 13 / 2 pm EST. 
CLICK HERE TO REGISTER >> 

CLICK HERE TO DOWNLOAD Virtue Health Case Study - 400-EMPLOYEE HEALTHCARE COMPANY EXPANDING ACROSS THE US

Benefits renewal season is officially upon us. And this year, it may get complicated. 

Healthcare brokers that plan to maintain their book of business this year must safeguard their renewal strategy for the September - October meetings. 

Kickstart this process with John Sbrocco and Craig Lack on this week's episode of the Heads Up Adviser Show: "THE RENEWAL MEETING." 

Learn how to create a range of scenarios for the employer, provide them with choices, and - more importantly - give them certainty and clarity before the renewal date. 

We covered: 

✔️ Re-selling last year's success

✔️ Mastering uncomfortable conversations

✔️ This year's dealbreakers

NEXT STEPS: 
 

1. Join Heads Up Adviser Facebook Group 👉 https://bit.ly/37hJFyk

2. Visit Heads Up Adviser Website 👉 https://bit.ly/36cYv7C 

3. Subscribe on Youtube https://bit.ly/2QVutkY 

4. Subscribe and Listen to Heads Up Adviser Podcast https://apple.co/35GRMDk

Bruce Daisley is a best-selling author whose books "The Joy of Work" and "Eat Sleep, Work Repeat" have received critical acclaim. Daisley has worked for some of the most successful tech companies globally, such as Google and Twitter, and has developed a fascination with workplace culture on his journey as an executive.  

This episode of the Edelheit Experience features a deep dive into the connection between culture, employee satisfaction, and productivity. Daisley outlines how creating a positive employee experience leads to stellar customer service, increased creativity, and loyalty to your business.

With an ever-growing body of evidence that organizations with a positive work culture outperform those with unhappy, stressed, and anxious employees, culture is more important than ever. Listen now to discover how you can make culture work for you.

Kate Brown is head of Mercer's Center for Health Innovation and is an expert in managing and improving employee population health through corporate wellness initiatives. Brown also holds a master's degree in kinesiology and a Certified Employee Benefit Specialist (CEBS) designation.  

In this episode, Brown discusses the latest trends and disruptive innovations in the employer-sponsored healthcare space. These include the pros and cons of the rapid adoption of digital healthcare solutions, what healthcare will look like in 2030, the threat posed to current virtual care providers by big tech, and the enormous potential of remote patient monitoring (RPM) technology to revolutionize the future of healthcare.  

Brown identifies the current state of 'fragmented virtual care' as one of the most pressing concerns in the virtual healthcare space. This phenomenon occurs when an employee receives treatment for several different conditions from separate care providers. Since these conditions are essentially being treated in isolation, employees are at risk of poor outcomes, while duplicate billing can affect employers. The underlying issue is that patient data is siloed, and subsequently, holistic, cost-effective treatment is hindered. Listen to Brown's intuition on solving this problem and others through her fresh mindset.

Heather Saunders is the Director of Infection Control at the Johns Hopkins Office of Population Health. Her background is in nursing and epidemiology, and she holds a Master of Public Health degree. When Saunders isn't performing research at Johns Hopkins and informing our leading decision-makers, she runs her business which assists entities in controlling infectious diseases.  

This episode contains expert insights into how businesses can manage COVID-related disruptions, prevent the cessation of operations, and simultaneously ensure stakeholders' safety. Additionally, we learn what is meant by infectivity, the ultimate fate of COVID-19, and how we assess our risk tolerance in the context of the virus.

Saunders also sheds light on a program she helped develop, the Global Healthcare Accreditation (GHA) For Business. This state-of-the-art certification allows companies to show customers and staff alike that they are committed to the health, safety, and wellbeing of all stakeholders.  

Listen as Saunders provides her invaluable perspective on the Omicron variant, how to separate the wheat from the chaff when choosing a source of information, and much more.

Veetahl Eilat-Raichel is the CEO and co-founder of Sorbet, a financial and human resources technology company. Sorbet is a startup disrupting paid time off (PTO) by offering employees and employers ways to maximize their efficiency around unused PTO. Eilat-Raichel has worked at multinational banks in Switzerland, Israel, and the United States and was most recently the Chief Marketing Officer at Isracard, the largest credit card and payment company in Israel.

This conversation on the Edelheit Experience dissects the intersection between PTO, employee wellness, and employer performance. Find out why the utilization of PTO benefits employees and employers, why 4-day work weeks won't inherently change the corporate culture on its own, and how the explosion of remote working can hinder much-needed rest.

According to Eilat-Raichel, each year, US employers carry over more than $272 billion in unused vacation days, an equivalent of 900 million days that could be used to rest, recharge and rejuvenate. Listen to this episode for a brilliantly unique and creative approach to PTO and employee wellness. 

Greg Nussbickel is a top-rated elder law and estate planning attorney who has served Southwest Florida for two decades.

His law firm, The Nussbickel, is dedicated to helping seniors with legal issues surrounding health and personal care planning. The firm’s legal team creates strategies for its clients which might include Medicaid planning, veterans benefits, special needs planning, and more.

Listen in as Greg offers his advice to families who have been considering hiring an estate planning specialist, but have hesitated on pulling the trigger. He assures listeners that “it’s so much less intimidating and scary than people think.”

He then explains how companies can take advantage of the ERTC, who exactly can qualify for the tax credit, and why “it’s basically free money on the table.”

Greg also warns against taking advice from anyone (including your accounting firm) but a demonstrated expert in the field such as himself.

To listen to more episodes visit www.EdelheitExperience.com 

Julian Treasure is a sound and communication expert whose mission is to help people and organizations to listen better and create healthier and more effective sound, including speaking. He is the author of the books How to be Heard and Sound Business. Collectively, Julian’s five TED Talks have garnered over 100 million views. How to speak so that people want to listen is in the top 10 TED talks of all time. His talks offer actionable insights and strategies for business effectiveness, particularly for those in sales or leadership roles, as well as enriching relationships at work and at home.

His presenting skills and innovative use of sound make his talks visceral and potent experiences that are always highly rated by delegates. In addition to keynote speeches, Julian can also arrange structured training or workshops for your company. Listen in as Julian discusses his fascinating journey into the world of sound, why becoming a better listener makes you a better speaker by default, why listening seems like such an elusive skill, bad habits to eradicate if you want to be a better listener, and how organizations can use listening to benefit all parties.