Self-Funded

“That race car you got, that you studied all the components and now you're just tweaking horsepower and how much can you get out of it? That's what this feels like. You are really optimizing the horsepower of this engine, your employee benefit plan, and everybody likes it.” - Bently Durant

This week, I was joined by an all-star duo: Bently Durant, the COO of Classic Chevrolet, which is the #1 Chevy dealer in the world, and his benefits advisor, Riley Dearing of Hotchkiss Insurance.

Together, we discussed the story of how they saved $3 million while simultaneously improving care by eliminating deductibles and optimizing pharmacy spend, which is a playbook that every business owner, CFO, and consultant can learn from. Bently, Riley, and I talked about what makes this industry so unique and why self-funding is so beneficial for car dealerships.

We also dove into the truly innovative things they're doing now that their plan is so successful, like creating a "Good Decision Fund" to give bonus money back to their employees.

Tune in this week to learn how to optimize the horsepower of an employee benefits plan!

Chapters:

(00:00:00) How the World's #1 Chevy Dealer Saved $3 Million on Healthcare
(00:04:10) When Bently Decided To Go Self-Funded
(00:14:08) Tailoring Health Plans To Your Employees
(00:31:19) The Complicated World Of Pharmacy Spend
(00:58:27) Improving The Benefits Plan WHILE Saving Money

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

"If employers do not think that they are in the healthcare business, they are sadly mistaken. Every employer is in the healthcare business whether they want to or not." - Stephanie Koch

I’m super excited about this week’s episode: the Empowering Employers live panel show that we recorded in front of a live audience on June 18th. I was joined on-stage by an all-star group of guests: Rachel Strauss, Kimberly Carleson, Kristen Rivers, and Stephanie Koch. 

Together, we discussed some of the biggest challenges and opportunities for employers in today’s market; the diversity of perspectives on-stage made this a super insightful podcast, and whether you’re an employer, consultant, or solution provider, there’s a lot you’ll take away.

We also had live Q&A after the main podcast, with some hard-hitting questions from Omar Arif, Elaine Davis, and more.

Tune in this week to learn how we can better empower employers!

Chapters:

(00:00:00) The Empowering Employers Live Show, with Q&A
(00:13:00) How Do We Get More Transparent Healthcare Pricing?
(00:21:25) What Is The PBM’s Role In Better Healthcare Strategies?
(00:29:00) Lowering Healthcare Costs Through Claim Review
(00:40:11) PBM Reform Through Strategic Legal Actions
(00:48:45) How Do We Pay For GLP-1s?
(01:01:22) Live Audience Q&A
(01:38:10) Final Thoughts From Each Panelist

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

 "There is no such thing as a health or medical problem for which we are not your partner." - David Silverstein

The U.S. healthcare system is the third-largest economy on the planet, which makes expecting patients to navigate all of its complexities pretty unrealistic. This week’s guest, David Silverstein, is aiming to make healthcare simpler for the end user, steering them when appropriate to the best care and becoming their first point of contact with the healthcare system. 

David explains why the system is designed to create friction, from unnecessary tests to proprietary pricing that hides the true cost of care. He also told me about his experience trying to get legislation passed that would make healthcare costs more transparent, and the lobbying groups he ran up against in that attempt. 

Tune in this week to learn how we make healthcare simpler for Americans!

Chapters:

(00:00:00) How Do We Make Healthcare Simpler? | with David Silverstein
(00:06:30) Streamlining Healthcare With Modern Tech
(00:12:37) Pushing For More Transparent Healthcare Legislation
(00:22:30) Fair Pricing for Informed Healthcare Decisions
(00:33:37) Virtual Healthcare Navigation and Coordination
(00:59:37) More Transparent Healthcare Costs

(01:15:22) Patient-Centered Healthcare

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

“As a broker, our job is counting cards against the system. Because everything catches up 5-10 years later. Every other broker, every other consultant gets in like, oh, that's a great idea. We're always trying to find the next little thing, and then the system eventually shuts it down because it messes with somebody's money." - Taylor Orton

What does it mean to be on the bleeding edge of employee benefits? My next guest, Taylor Orton, CEBS, of Cottingham & Butler, frames the work of a top consultant as “counting cards against the system”, and trying to continuously stay ahead of the market. 

Taylor broke down several of the key areas of cost containment that are often employed by brokers and gave his take, as well as what it means to be on the “bleeding edge” of benefits. He also shared with me why cost containment doesn’t just mean lowering the “unit cost” of healthcare; it also means trying to reduce the number of “units”. 

Much of this conversation was on the big picture of the healthcare landscape, so if you’re a self-funded geek, this one is for you.

Chapters:

(00:00:00) Why Brokers Need To Be Constantly Innovating | with Taylor Orton
(00:10:44) Optimizing Healthcare Benefits Plans
(00:16:14) Why Procurement Strategies Are So Key To Cost Management
(00:33:22) Market Forces' Impact on Healthcare Pricing
(00:46:54) Employer Transparency About Healthcare

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

“There's this ability to impact people directly through the employer in a very cost effective way, giving everyone the chance to improve their health. The more employers that we can impact, the more people we're going to impact." - Erica Armstrong

I recently had the pleasure of speaking with Erica Armstrong, MD, IFMCP, the founder of Root Functional Medicine, who is on a mission to use functional medicine to find and treat the root cause of our health issues. After first connecting with Erica on LinkedIn, I was excited to have her on the show to discuss her holistic approach to healthcare.

We discussed the core pillars of functional medicine, including a nutrition-first care model, the critical importance of a healthy gut microbiome, the keys to inflammation management, and even the potential for reversing chronic conditions. We also cover how she is bringing this new, more comprehensive model to employers and their employees.

Tune in this week to learn all about functional medicine!

Chapters:

(00:00:00) Functional Medicine 101 | with Erica Armstrong
(00:05:37) The “Root Cause” Approach
(00:07:03) Holistic Approach Of Functional Medicine
(00:16:56) Nutrition-First Care
(00:25:59) The Importance Of A Healthy Gut Microbiome
(00:34:46) Chronic Condition Reversal
(00:44:10) The Key To Inflammation Management

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

If you'd like your question answered on next month's episode, call/text 469-213-6381 and leave us a voicemail/text.

Each month on Last Month In Healthcare, producer Nathaniel joins me to discuss the previous month's podcasts, headlines, and listener-submitted questions. This month, we were joined in studio by Shawn Ferguson from Acrisure!

This episode covers healthcare news from May 2025, including:

- Trump's 'most favored nation' executive order

- AI in the FDA

- FDA's plan to review chemicals in our food supply

- Prices for new drugs doubling in the last 4 years

- Hospitals outsourcing minor surgeries

- The DOJ lawsuit against Aetna, Elevance, and Humana

And we play a new game called the Macro Matchup, where Spencer and Shawn attempt to guess the calories, sugar, fat, and protein of 4 very unhealthy fast food items.

Chapters:

0:00 - Intro

1:01 - Healthcare Headlines

18:21 - The Self-Funded Review

31:29 - Macro Match-up (this month's game)

38:06 - Ask Spencer Anything

Sources:

• https://www.healthcaredive.com/news/trump-most-favored-nations-drug-pricing-plan/747761/
• https://www.reuters.com/business/healthcare-pharmaceuticals/us-fda-centers-deploy-ai-internally-immediately-2025-05-08/
• https://www.reuters.com/world/us/fda-plans-review-chemicals-us-food-supply-official-says-2025-05-15/
• https://www.reuters.com/business/healthcare-pharmaceuticals/prices-new-us-drugs-doubled-4-years-focus-rare-disease-grows-2025-05-22/
• https://www.healthleadersmedia.com/innovation/healthcare-diversified-hospitals-are-outsourcing-minor-surgeries
• https://www.reuters.com/sustainability/us-files-false-claims-complaint-against-three-health-insurers-2025-05-01/

"I want to be in our own category." - Rob Gelb

I recently joined Rob Gelb, CEO of Vālenz, which is a sponsor of this show, at the Vālenz office in Philadelphia to discuss the story of the company, how it operates in the market currently, and it’s future, which includes the recently announced Vālenz One. 

Rob describes VālenzONE as a “health plan optimizer”, and we discussed what that means and what it looks like to build a new way for employers to manage their healthcare. We also discussed the healthcare market as a whole, what it’s currently lacking, and Rob’s general philosophy of how he’s approached building this new platform.

Tune in this week to learn all about VālenzONE!

Chapters:

(00:00:00) What Is VālenzONE? | with Rob Gelb
(00:08:03) How Data Can Reduce Health Plan Spend
(00:19:48) How Vālenz Has Transformed Over The Years
(00:22:43) What Does Optimized Healthcare Look Like?
(00:36:58) Why Integrated Health Solutions Are The Future
(00:41:34) Innovative Healthcare Collaborations
(00:50:17) What Does It Mean To Be Innovative?

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

“We show…very similar weight loss outcomes to GLP1 in a similar timeframe at a fraction of the cost, but sustainable through behavior change." - Colin Rogers

Colin Rogers, VP at Signos, joined me for episode 200! On this special episode, we talked about something I’m very passionate and vocal about: weight loss for everybody. 

Signos combines continuous glucose monitors (CGMs), our phones, and AI to track longitudinal data and help educate and prompt members to make better health decisions. If you’re into personalized population health, then this is the episode for you!

On one of our earliest episodes, a guest shared that the best way to solve the problem of healthcare is to produce less disease. GLP-1s definitely appear to have a role to play in that, but as Colin shares on this episode, the more we can achieve GLP-1 results in a way that’s sustainable, the better, for employers and for America.

Chapters:

(00:00:00) GLP-1 Weight Loss At A Fraction Of The Cost | with Colin Rogers
(00:11:29) Real-world CGM Data Impact
(00:15:26) Health Programs for Metabolism Control
(00:21:37) Real-time Glucose Monitoring Devices Empower Employees
(00:36:03) How CGMs Can Optimize A Health Plan
(00:42:05) Why This Data Is So Powerful

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

“You know, Marshall was known in the healthcare space, but there's 100 million Americans who don't know anything about the healthcare space. And those are the people that we're really trying to serve." - Sonja Allen

Sonja Allen is the Managing Director of the Marshall Allen Project and the Allen Health Academy, and as many of you know, she was also married to our dear friend, the late Marshall Allen. Sonja joined me to discuss how she’s continuing Marshall’s mission of helping Americans fight back against our healthcare system, using the MAC, an AI clone of Marshall Allen.

She also shared the story of her and Marshall’s lives together, including how they met and how he found his passion for healthcare journalism, and I’m humbled to have had the chance to capture a permanent record of it for the world. 

Marshall was a dear friend and an inspiration, and I was honored to have him on the show. I hope you’ll tune in this week to hear how we can all continue his legacy.

Chapters:

(00:00:00) Continuing Marshall Allen's Legacy | with Sonja Allen
(00:03:40) Sonja’s Experience Growing Up In Kenya
(00:08:43) Meeting Marshall Allen
(00:16:04) Marshall’s Career Transformation
(00:30:58) The MAC - The Marshall Allen AI Clone
(00:33:53) Empowering Healthcare Navigation Using The MAC
(00:42:55) Informing Americans Of Their Healthcare Rights

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

“That's the great thing about upfront, all inclusive, transparent specialty care is you eliminate all of that, right? You purchase the service, you never see another bill from it again. You're done." - Dean Jargo

Dean Jargo, CEO of Fair Market Health, joined me this week to share why US healthcare desperately needs to be a fair market. 

We talked about what that means and why it requires us to construct a new healthcare ecosystem, how it enables patients to actually receive better care at a lower price point, and how it can work in conjunction with employer benefits to create a more effective system for employers, employees, and providers. 

Join us this week on Self-Funded with Spencer as we talk the big-picture future of healthcare!

Chapters:

(00:00:00) Returning Healthcare To The Free Market | with Dean Jargo
(00:03:50) Streamlining Healthcare Payments
(00:10:02) Directly Purchasing Specialty Care
(00:16:00) Why Healthcare Desperately Needs A Fair Market
(00:21:44) Transparent Pricing Model
(00:26:23) Creating A New Healthcare Ecosystem

(00:53:12) Clear Pricing Leads To Informed Healthcare Purchases

Key Links for Social:

@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFunded

Listen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02

Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286

Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/

Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/