The-Shift-Shapers-Podcast-(Rough-Comp-2)

With the stratospheric rise in advisor interest in self-funding as a base financing design for bringing other state-of-the-art tools to employers, it is critical for advisors to understand the components and players. Jonathan Socko is Senior Vice President for Sales & Business Development for East Coast Underwriters and offers his advice for newbies and seasoned practitioners as well.

What You’ll Learn From this Episode:

  • The difference between a General Agent, an MGU, a Direct Writer and a TPA.
  • How to get good advice and what each player brings to your table.
  • Whether Health Care Captive arrangements will be more dominant in 2019.
  • How suitability should inform your decisions on bringing prospects and clients into a self-funded financing arrangement.
  • What the key components of a quote are.

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In this episode, we explore some of the most common questions advisors ask about self-funding and discuss concerns ranging from minimum group size to tools and techniques. Our guest on this episode of ShiftShapers is Adam Russo, Esq., co-founder and CEO of The Phia Group, as well as the founding and managing partner at a law firm, Russo & Minchoff. He believes that, in light of the healthcare reform, the current environment is full of exciting opportunities that many brokers can take advantage of.

We also have a frank exchange about what is behind recent efforts by some Departments of Insurance to try to put the brakes on certain segments of self-funding and the potential impact that may have on employers seeking an alternate to the fully insured marketplace.

All of us at ShiftShapers thank you for your continued support. We hope you’re enjoying the holidays with family, friends, great food, and this encore episode.

What You’ll Learn From this Episode:

  • Adam’s journey and how The Phia Group came about.
  • How advisors can remain relevant in the current environment.
  • The minimum size for a successful self-funded group.
  • Why the government wants to stop or severely limit self-funding.
  • How can advisors begin the self-funded conversation.
  • What you need to devise a properly constructed client plan.

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The-Shift-Shapers-Podcast-(Rough-Comp-2)

On this episode of ShiftShapers, Tobe Gerard shares valuable insight into how she built a successful agency specializing in long-term care insurance. She had 20 years of experience in the insurance industry before starting her firm, and for the past 15 years, she’s built a highly efficient, effective and successful agency using a unique strategy.

Rather than finding prospects directly – as is the case with most practices – Tobe took a different route. Instead, she cultivates relationships with other professionals, including financial planners, life insurance brokers, accountants, and others. Her network continually refers clients to Tobe as a subject matter expert in long-term care insurance. Once the prospects began flowing, she developed a multi-part strategy to convert prospects into clients.

Join us to find out how Tobe was able to shape her successful referral-based, long-term care specialty practice and how it is doing in today’s environment. Learn which tools and techniques are most effective for working with long-term care clients and prospects, and why the current trend of using riders on life plans may not always be the best solution for your clients.

 

What You’ll Learn From this Episode:

  • How Tobe was initially introduced to the insurance industry.
  • How she was able to build a referral-only practice.
  • How Tobe creates new sources of referrals for her agency.
  • Tools and techniques for working with long-term clients.
  • What “Invisible Coverages” are.

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Mark Gaunya and Jennifer Borislow continue their discussion from last episode about why healthcare is so expensive and share their ideas to slow rising prices. With the release of the second edition of their book Bend the Healthcare Trend, Mark and Jennifer are advocating for consumer-driven healthcare as the solution to rising expenses.

In analyzing the healthcare system, inflation greatly outpaces the general economy. Our guests explain why the industry’s prices rise so much faster than those of other industries, largely due to a lack of transparency or tangible competition.

Opportunity will grow from greater industry transparency and responsibility, as consumers will save money and maintain better health. We need to look beyond physical health and appreciate mental, spiritual, and financial health as well.

What You’ll Learn From this Episode:

  • The three essential principles of healthcare’s oncoming trend: Transparency, Responsibility, and Opportunity.
  • Why healthcare is the only industry where consumers don’t shop around.
  • What opportunities flow from responsibility and transparency.
  • The difference between wellbeing and wellness.
  • Why there has been an uptick in interest around self-insured plans. 
  • How companies of all shapes and sizes can approach a self-funded health plan, and how an advisor can approach that conversation.

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This Episode is Sponsored by:

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ShiftShapersCoverArt

Mark Gaunya and Jennifer Borislow continue their discussion from last episode about why healthcare is so expensive and share their ideas to slow rising prices. With the release of the second edition of their book Bend the Healthcare Trend, Mark and Jennifer are advocating for consumer-driven healthcare as the solution to rising expenses.

In analyzing the healthcare system, inflation greatly outpaces the general economy. Our guests explain why the industry’s prices rise so much faster than those of other industries, largely due to a lack of transparency or tangible competition.

Opportunity will grow from greater industry transparency and responsibility, as consumers will save money and maintain better health. We need to look beyond physical health and appreciate mental, spiritual, and financial health as well.

What You’ll Learn From this Episode:

  • The three essential principles of healthcare’s oncoming trend: Transparency, Responsibility, and Opportunity.
  • Why healthcare is the only industry where consumers don’t shop around.
  • What opportunities flow from responsibility and transparency.
  • The difference between wellbeing and wellness.
  • Why there has been an uptick in interest around self-insured plans. 
  • How companies of all shapes and sizes can approach a self-funded health plan, and how an advisor can approach that conversation.

Featured on the Show:

Listen to the Full Interview:

This Episode is Sponsored by:

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On this episode of ShiftShapers, Jessica Waltman joins us for her quarterly visit. She’s an expert on all things legislative and a Principal at Forward Health Consulting. If the twists and turns on Capitol Hill have you scratching your head, Jessica will help you make sense of recent events.

The Republican led Congress and President Trump decided to pull legislation designed to reform the Affordable Care Act. Contrary to common media messages, this bill would not have repealed the ACA. As a reconciliation bill, it was inherently limited. No one really liked the bill and attempts at compromise continued to anger opposing factions in the House. Ultimately the bill was pulled. Elected leaders on both sides of Pennsylvania Avenue are now making efforts to revisit health care reform. The American public will have to stay tuned.

In this first of a two-part series, Jessica explains just why the reform attempt failed. She’ll shed light on what we can expect as lawmakers return to the drawing board. Should President Trump proceed as cautioned and just let the ACA implode? Jessica walks us through that approach and explains the regulatory steps that can be implemented now to make the ACA more responsive to market realities.

 

What You’ll Learn From this Episode:

  • What exactly happened with the Republican’s health care bill.
  • Whether or not the effort was doomed to fail from the beginning.
  • Regulatory reforms that can be made without legislative involvement.
  • Whether the PPACA is actually imploding.

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Listen to the Full Interview:

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On this episode of ShiftShapers, Tobe Gerard shares valuable insight into how she built a successful agency specializing in long-term care insurance. She had 20 years of experience in the insurance industry before starting her firm, and for the past 15 years, she’s built a highly efficient, effective and successful agency using a unique strategy.

Rather than finding prospects directly – as is the case with most practices – Tobe took a different route. Instead, she cultivates relationships with other professionals, including financial planners, life insurance brokers, accountants, and others. Her network continually refers clients to Tobe as a subject matter expert in long-term care insurance. Once the prospects began flowing, she developed a multi-part strategy to convert prospects into clients.

Join us to find out how Tobe was able to shape her successful referral-based, long-term care specialty practice and how it is doing in today’s environment. Learn which tools and techniques are most effective for working with long-term care clients and prospects, and why the current trend of using riders on life plans may not always be the best solution for your clients.

 

What You’ll Learn From this Episode:

  • How Tobe was initially introduced to the insurance industry.
  • How she was able to build a referral-only practice.
  • How Tobe creates new sources of referrals for her agency.
  • Tools and techniques for working with long term clients.
  • What “Invisible Coverages” are.

Featured on the Show:

 

Listen to the Full Interview:

This Episode is Sponsored by:

Enjoy The Show?

Subscribe-with-iTunes-smallSubscribe-with-Stitcher-small

The-Shift-Shapers-Podcast-(Rough-Comp-2)

In this episode, we explore some of the most common questions advisors ask about self-funding and discuss concerns ranging from minimum group size to tools and techniques. Our guest on this episode of ShiftShapers is Adam Russo, Esq., co-founder and CEO of The Phia Group, as well as the founding and managing partner at a law firm, Russo & Minchoff. He believes that, in light of the healthcare reform, the current environment is full of exciting opportunities that many brokers can take advantage of.

We also have a frank exchange about what is behind recent efforts by some Departments of Insurance to try to put the brakes on certain segments of self-funding and the potential impact that may have on employers seeking an alternate to the fully insured marketplace.

All of us at ShiftShapers thank you for you continued support. We hope you enjoy Thanksgiving with Family, Friends, great food, and this encore episode:

What You’ll Learn From this Episode:

  • Adam’s journey and how The Phia Group came about.
  • How advisors can remain relevant in the current environment.
  • The minimum size for a successful self-funded group.
  • Why the government wants to stop or severely limit self-funding.
  • How can advisors begin the self-funded conversation.
  • What you need to devise a properly constructed client plan.

Featured on the Show:

Listen to the Full Interview:

This Episode is Sponsored by:

Enjoy The Show?

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This week, our subject matter expert is Julian Lago, co-founder and President of Benezon about how benefits advisors can help employees raise their “Healthcare IQ”. In light of recent reports that as many as three-fourths of employees don’t understand even basic benefits terminology, this offers yet another post-reform opportunity for adding value.

Julian has spent the last five years working to understand how advisors can create a concierge service for employees to help them begin to understand the complexities of their plans and their claims. We also explore how having an advocate can help employees become better consumers. He believes it boils down to three key focus areas: awareness, engagement, and improvement.

In this conversation, we talk about what you need to look for in your practice and how to keep a high touch environment while using technology to take the burden of every-increasing client demands for higher levels of customer services off your support staff. Julian is a Regional Vice President of the National Association of Health Underwriters and spends a great deal of time talking with benefit advisors who share the same common needs: being able to find time to build their practices while delivering world-class customer service without breaking the bank.

What You’ll Learn From this Episode:

  • How you can account for the continuing high level of health care illiteracy.
  • What “Healthcare IQ” means.
  • Whether more transparency will drive greater engagement.
  • Whether “high touch” still matters.
  • Julian’s 3 three key focus areas of advocacy for plan members.
  • What’s the sword and what’s the shield?

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At the recent Ascend! conference in Nashville, we caught up with Russ Blakely, President of Russ Blakely & Associates. In the course of our conversation, it became apparent that Russ is doing a lot of the things “the right way,” and we decided to invite him to the program to talk about best practices. Russ is a great example of the things he’s doing in the benefits arena that you can likely learn from and implement in your own practice.

In this wide-ranging discussion, we cover how taking ownership of client problems may lead you to saving money, and when it makes sense to implement onsite clinics and pharmacies and how that may impact the pharma and medical spend. We also talk about how Russ has created a proprietary physician network and what it did for their firm, as well as how they discover “at-risk” employees and what conditions they find most prevalent within a given population.

What You’ll Learn From this Episode:

  • What to do when expensive care happens outside a clinic.
  • Why it is important to leverage data and do directed mining.
  • Whether the onsite clinics in the public sector are unusual.
  • What prompted the initial physician recruitment and how that grew into a network.
  • What a “network within a network” is and why it is important.

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This Episode is Sponsored by:

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